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    Property profile & analytics

    542 Dearborn St Chicago, IL 60605

    • Office buildings
    • 95,100 SF
    • 0.15 lot acres
    For Lease
    View listing
    $21 SF/Yr
    Value Estimations
    $1,410,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0353733
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

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    Property Details for 542 Dearborn St

    Year built
    1896
    Lot size
    0.15 lot acres
    Property size
    95,100 SF
    Property type
    Office buildings
    APN
    17-16-245-013
    APU
    1716245013

    Description

    This iconic 14-story, 88,347 square foot office building, located at 542 S. Dearborn St. in Chicago's Printer's Row, presents a unique opportunity. Built in 1891 by renowned architects Holabird & Roche, and listed on the National Register of Historic Places, The Pontiac Building boasts a rich history and modern amenities. Recent renovations (2019) encompass the lobby, elevator cabs, select common corridors, and new spec suites, blending historical charm with contemporary functionality. The building offers multiple tenancy options, with spaces ranging from 1,376 to 6,723 contiguous square feet, accommodating diverse business needs. With 10 total suites and currently 44,211 square feet vacant, this property offers significant potential. The building features an 11-foot ceiling height and convenient access to three "L" stations and the LaSalle Metra Station, all within two blocks. A Potbelly Sandwich Shop is located on-site. The building's location in Printer's Row, known for its unique street pattern designed to maximize natural light, offers a vibrant and historically significant setting. The property is zoned 50, situated in Cook County, and has a Building FAR of 6.76. Property taxes are $7.45 per square foot. The 0.3-acre site includes one building with elevators.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,410,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6295
    Latitude
    41.8748
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $650,760
    $376,031
    $2,787,876
    $3,163,907
    -
    $1,504,124
    $11,151,504
    $12,655,628

    Comparable in this City

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      427 La Salle St

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      View Details
    • Value Estimation
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      440 La Salle St

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      View Details
    • Value Estimation
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      1130 Wabash Ave

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    • Value Estimation
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      845,200 SF

      408 Michigan Ave

      OFFICE BUILDING (MULTI-STORY) • 845,200 SF
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      View Details
    • Value Estimation
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      518,500 SF

      518 Michigan Ave

      OFFICE BUILDING (MULTI-STORY) • 518,500 SF
      518 Michigan Ave, Chicago, IL 60605
      View Details
    • Value Estimation
      $1,790,000
      201,000 SF

      85 Ida B Wls Dr

      OFFICE BUILDING (MULTI-STORY) • 201,000 SF
      85 Ida B Wls Dr, Chicago, IL 60605-1516
      View Details

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    Similar Nearby for Lease

    • $21 SF/Yr
      88,347 SF

      Pontiac Building: Historic Office Space

      Prime South Loop Office, 9 Suites Available
      542 Dearborn St, Chicago, IL 60605
      View Details
    • $30 SF/Yr
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      South Loop Office Redevelopment Opportunity

      Two-story office and retail property in Chicago's South Loop.
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      View Details
    • $21 SF/Yr
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      Prime Chicago Retail/Office Space

      1,450 sq ft, Wabash Ave gem.
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    • $22 SF/Yr
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      Harrison Street Executive Suites

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      Prime Office Space Available

      Office space with frontage and efficient open area.
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      Chicago's Iconic Wrigley Building Space

      Office and retail spaces in a celebrated Magnificent Mile landmark.
      410-440 N Michigan Ave, Chicago, IL 60605
      View Details
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    Chicago, IL 60605
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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