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Financial
Distress signals
Property profile

228 S Wabash Ave Chicago, IL 60604

FOR LEASE
Office buildings
Property ID
US28-2202076
68,800 SF 0.21 ac lot Built 1925
Last sale Jun 2017 · $5,900,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 9-yr Hold Held for 9 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

This prestigious 10-story, 84,000 square foot building, constructed in 1930, offers a unique blend of historic charm and modern functionality. Located in Chicago's vibrant East Loop, near historic Route 66, this property boasts 7 available office spaces ranging from 1,303 to 4,700 contiguous square feet, with a total of 7,228 square feet currently vacant. The building features efficient floor plates, abundant natural light from large windows on three sides, upgraded elevators and lobby, and…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2022

What does the county charge?
$231k
Tax billed · 2022
Assessed value$1.13M
Assessed land$635k
Assessed improvement$490k
Effective rate20.57%

Value estimate

· Oct 2026
$1.33M
$1.19M – $1.46M
NOI build-up
Gross scheduled income$3.23M
Vacancy & credit loss−$823k
Operating expenses−$601k
NOI · 9,011,520.00% cap applied$1.80M

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$135/SF
Submarket average, outlier-cleaned · 152 recorded sales of this use type
Observed band · Q1–Q3$51 – $278

Cap rate analysis

How does the asset earn?
9,011,520.00%
$1.80M estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

No data for this section
What can be built here?

No zoning code is on file for this parcel. Coverage grows with every catalog release.

JurisdictionCOOK

Location intelligence

Which uses thrive at this corner?
Best fit: Laundromat
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Laundromat9.9
Assisted Living Facility8.0
Nursing Home7.4

Location

228 S Wabash Ave Chicago, IL 60604
County assessor Recorded deeds · 5 transfers Qualifying comp sales · not on file Zoning catalog · not on file

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

2 recorded sales · 18 properties nearby
Recent sales nearby
2 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
314 Federal, Chicago, IL 60604 $1,200,000 Jul 2024 17,300 SF
333 Wabash Ave, Chicago, IL 60604-4107 $108,000,000 Aug 2020 2,434,200 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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