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Property profile & analytics
FOR LEASE
Office buildings
77 West Wacker Dr Chicago, IL 60601
Entity Owned
26-yr Hold
Absentee Owner
Free & Clear
Property ID
US28-1861462
For Lease
$600,000
77 West Wacker Dr, Chicago, IL 60601
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1988
Lot
0.1 ac (4,504 SF)
APN
17-09-421-018
UPID
US28-1861462
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
-
Mark Silverman Law Office Ltd. Law Firm
-
Jeruchimowitz Howard K Law Firm Insurance Agency
-
Fishman Gregory A Law Firm
-
Jeremy P. Cole Law Firm
-
Caravelli | Blair Law, LLC Law Firm Child Welfare Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$600k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$600k
Owner & transaction history
77 W Wacker Drive LLC · 26 yrs held
77 W Wacker Drive LLC
since 1999
5 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
$600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$600k
Range $540k – $660k · ±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
—
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
$1,664,802
Tax year 2022
Assessed value
$8,094,045
Assessed 2022
Previous assessed
$9,049,478
-10.6% YoY
Effective rate
20.57%
On assessed value
Assessed land
$675,600
Assessed improvement
$7,418,445
Land market value
$2,702,400
Improvement market value
$29,673,780
Total market value
$32,376,180
Applied tax rate
76,002.0000
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
1988
Heating
NONE
Lot
0.1 ac (4,504 SF)
APN
17-09-421-018
UPID
US28-1861462
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
1988
Heating
NONE
Lot
0.1 ac
Current owner
From public records · entity-resolved
77 W Wacker Drive LLC
Entity
Free & Clear · 26 yrs held
Mailing address
275 E BROAD ST, COLUMBUS, OH 43215-3703
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1999
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 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 1, 1999
—
77 W Wacker Drive LLC
77 West Wacker LLP
Quit Claim Deed
related
—
Oct 5, 1998
—
77 West Wacker LP
—
Deed Of Trust
related
$170,000,000 · Lehman Capital Corp
Nov 19, 1997
—
77 West Wacker LP
—
Deed Of Trust
related
$225,000,000 · Bankboston NA
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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