55 Wacker Dr, Chicago, IL 60606
This exceptional 15,779 square foot vacant office condominium, located at 55 W Wacker Drive, Suite 200, Chicago, IL 60601, presents a unique owner-user or value-add investment opportunity in the heart of Chicago's Central Loop. Priced at $1,575,000 ($100/SF), this Class B property offers significant upside potential. The property is a condominium interest, free and clear of debt, with APN 17-09-423: 069, 070, 071, 072, 073, 074, 075, 076, 077, 078, 079, 080, & 081. Its prime location on Wacker Drive, adjacent to the Chicago Riverwalk and just 350 feet from Google's newly acquired Thompson Center, offers unparalleled access to public transportation (Clark/Lake and State/Lake CTA stations, Water Taxi, numerous bus lines), boasting a perfect 100/100 Walk Score and Transit Score. The surrounding area features a dense daytime population (approximately 490,000 within a 1-mile radius) and high average household income (exceeding $152,000 annually). Google's significant investment in the Thompson Center promises further revitalization of the neighborhood. This presents a rare chance to acquire a piece of Chicago's iconic riverfront office market. The low price per square foot is substantially below replacement cost, allowing for significant cost savings for an owner-user or strong cash flow potential for an investor.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.