- $7,900,000
- Built in 1969
- Three-story structure totaling approximately 42,000 rentable square feet on .3214+/- acres is ideal for an owner/user or prime for residential re-development.
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Chicago Office Space for Sale
Office Space For Sale in Chicago
In Chicago, office spacesare excellent opportunities for commercial real estate investments. Chicago's advanced infrastructure, including O’Hare International Airport and its role as a significant railroad hub, provides great access to both national and international markets. This makes the city an excellent place for businesses looking to grow or set up their main offices. With a strong economy that features a diverse labor force and is home to 66 Fortune 1000 companies, office spaces in Chicago serve as centers for innovation and business growth. The city’s dedication to education and research, with institutions like the University of Chicago and Northwestern University, ensures a continuous supply of talent to the commercial real estate market. Additionally, Chicago’s location on Lake Michigan offers benefits such as shipping access and a beautiful setting that adds to the attractiveness of office spaces.
The availability of office space in Chicago gains from the city’s efficient transportation system and central location. This makes these spaces easily accessible and sought after. Nearby, various other types of properties that complement the office space market can be found. For example, apartment buildings accommodate the city’s large population and workforce, promoting a balance between work and life. Shopping centers take advantage of the city’s large consumer base, providing spaces that attract customers and foster economic activity. Hotels benefit from Chicago's popularity as a tourist destination, with facilities suitable for both business and leisure travelers. This interconnectedness among different property types highlights the appeal of Chicago’s real estate market for both investors and businesses.
Learn About Office Space For Sale in Chicago
How many office space listings are available for sale in Chicago?
There are 201 office space listings available for sale in Chicago.
What factors should I consider when searching for office space for sale in Chicago?
When looking for office space for sale in Chicago, it's important to evaluate how the property aligns with your business needs and objectives. Consider these factors:
- Chicago's economic landscape, which is diverse, making it crucial to understand the local market dynamics and the competition within the office space sector.
- Proximity to key infrastructure such as O'Hare International Airport and the city's extensive public transit system, which can be beneficial for employee commute and business operations.
- The visibility and location of the property, as being situated in or near business districts can enhance client accessibility and corporate image.
How much does it cost to buy office space in Chicago?
The cost to purchase office space in Chicago varies, with the average price per square foot for office space is $198, and an average size of 25,141 SF.
What is the largest Office Space available to buy in Chicago?
The largest Office Space available for sale is 943,067 SF.
Why is Chicago an ideal location for office space for sale?
With a diversified economy, extensive transportation networks including O'Hare International Airport, and a significant presence of educational institutions, Chicago provides a strong environment for businesses, making it an ideal location for office space.
Size Summary For Chicago Office Space
| Office Space Size | Square Feet |
|---|---|
| Maximum | 943,067 SF |
| Average | 25,141 SF |
| Minimum | 355 SF |
Cap Rate for Chicago Office Space
| Office Space Cap Rate | Cap Rate Percentage |
|---|---|
| Maximum | 16.25% |
| Average | 7.87% |
| Minimum | 3.91% |
Prices for Chicago Office Space
| Office Space Price | Price Per SF |
|---|---|
| Maximum | $848 Per SF |
| Average | $198 Per SF |
| Minimum | $10 Per SF |
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