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Property profile & analytics
FOR LEASE
Office buildings
71 S Wacker Dr Chicago, IL 60606
Entity Owned
19-yr Hold
Absentee Owner
Free & Clear
Property ID
US28-1291514
For Lease
1 / 7
$1,995,000
71 S Wacker Dr, Chicago, IL 60606
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1990
Total area
1,206,400 SF
Lot
0.09 ac (3,913 SF)
APN
17-09-421-007
UPID
US28-1291514
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Paulson Mark G Law Firm
-
Paul Hastings Law Firm
-
Banner Witcoff Law Firm
-
Wunderman Thompson Commerce & Technology Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Peterson Brad L Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.46M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.54M
Blend (final)
Blend
$2.00M
Owner & transaction history
United Air Lines INC · 19 yrs held
United Air Lines INC
since 2006
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Chicago submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chicago submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$1,455,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.00M
Range $1.80M – $2.19M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$2 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$1,748,291
Tax year 2022
Assessed value
$8,499,958
Assessed 2022
Previous assessed
$9,519,087
-10.7% YoY
Effective rate
20.57%
On assessed value
Assessed land
$586,950
Assessed improvement
$7,913,008
Land market value
$2,347,800
Improvement market value
$31,652,032
Total market value
$33,999,832
Applied tax rate
76,015.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1990
Heating
NONE
Stories
50
Total area
1,206,400 SF
Lot
0.09 ac (3,913 SF)
APN
17-09-421-007
UPID
US28-1291514
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1990
Heating
NONE
Stories
50
Lot
0.09 ac
Current owner
From public records · entity-resolved
United Air Lines INC
Entity
Free & Clear · 19 yrs held
Mailing address
275 E BROAD ST, COLUMBUS, OH 43215-3703
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 5, 2023
—
77 West Wacker Drive LLC
—
Deed
related
$150,000,000 · The Northwest Mutual Life Insurance
Aug 31, 2018
—
77 West Wacker Drive LLC
—
Grant Deed
related
$150,000,000 · Northwestern Mutual Life Ins C
Oct 30, 2006
—
United Air Lines INC
77 West Wacker Drive LLC
Grant Deed
related
—
Oct 1, 1999
—
77 W Wacker Drive LLC
77 West Wacker LLP
Quit Claim Deed
related
$170,000,000 · Westdeutsche Immobilienbank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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