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7037853
7037854

55 W Wacker Drive, Suite 1500, Chicago, IL 60601

JS
IL 475142612
Greenstone Partners
Greenstone Partners
Listed by Greenstone Partners
$1,410,000
1483 days on market
Updated 86 days ago

Vacant Owner-User/Value-Add Loop Office Condo | Suite 1500

Details
APN 17-09-423: 281, 286, 287, 288, 289, 290, & 291
Property Type Office
Sub Type Traditional Office
Net Rentable (SqFt) 10,841
Tenancy Vacant
Broker Co-Op Yes
Class B
Investment Type Owner/User
Ownership Condominium Interest

DOWNTOWN CHICAGO

Investment highlights

GOOGLE BUYS NEIGHBORING THOMPSON CENTER The Property is just 350 feet away from Google’s newest real estate acquisition, the James R. Thompson Center. Google is expected to invest $280 million into upgrading the 425,000 square foot building and plans to move thousands of employees to the location. Google opening a massive office adjacent to the Property will bring additional jobs and offices to the immediate area with the improved infrastructure and ancillary businesses centered around the tech giant.

CORE CHICAGO CBD VALUE-ADD OPPORTUNITY The vacant space provides an owner/user or investor the opportunity to acquire the 15,779 square foot unit at only $100 per square foot, which is substantially below replacement cost. The low basis allows an occupant to reduce its operating costs and build equity while occupying the space and will allow an investor to lease-up and cash flow or sell upon stabilization.

RARE + ICONIC WACKER DRIVE OPPORTUNITY The Central Loop and more specifically Wacker Drive host many of the world’s most well-known and prestigious corporations. The opportunity enables an investor the exceptionally rare occasion to acquire a piece of 55 West Wacker, positioned on the Chicago riverfront and considered among the best-in-class office locations in all of Chicago.

TRANSIT + WALKER’S PARADISE The Property stands as one of the most well located, transit-oriented office buildings in all of downtown Chicago as it boasts immediate access to a large selection of public transportation options, including being mere steps from both the Clark/Lake and State/Lake CTA “L” Stations servicing the Blue, Brown, Green, Orange, Pink, and Purple Lines. The Property also sits adjacent to Chicago’s Water Taxi service and nearly a dozen CTA bus lines. The Investment boasts a perfect 100/100 Walk Score and 100/100 Transit score as it offers world class transportation and daily errands do not require a vehicle.

NEXT TO THE CHICAGO RIVERWALK The Property is adjacent to the new $150-million Chicago Riverwalk which boasts 1.25 miles of riverfront parkway that includes a variety of entertainment venues and concessions, hosting approximately 2.8 million visitors annually.

OUTSTANDING DEMOGRAPHICS The daytime population within 1-mile is approximately 490,000 and the average annual household income exceeds $152,000.

Listing Contacts

JS
IL 475142612
Greenstone Partners
Greenstone Partners
Listed by Greenstone Partners

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