For Sale
$1,575,000

55 Wacker DrChicago, IL 60601

15,779 SF Vacant Office Condo, Downtown Chicago

Overview

Added:
Dec 11, 2024
Days on market:
123
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.

Highlights

  • 15,779 SF vacant office condo at 55 W Wacker Drive, Suite 200, Chicago, IL, priced at $1,575,000 ($100/SF).
  • Prime location 350 feet from Google's new Thompson Center, offering significant upside potential due to Google's $280 million investment and planned employee relocation.
  • Exceptional Wacker Drive location in the heart of Chicago's Central Loop, considered a best-in-class office address.
  • Exceptional transit access: steps from Clark/Lake and State/Lake CTA stations, Water Taxi, and numerous bus lines; 100 Walk Score and 100 Transit Score.
  • Adjacent to the Chicago Riverwalk, a popular attraction drawing 2.8 million visitors annually.
  • Strong demographics: 490,000 daytime population and average household income exceeding $152,000 within a 1-mile radius.

Property Details for 55 Wacker Dr

Property type
Office properties
Class
B

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.8864753
Longitude
-87.6300102
55 Wacker Dr, Chicago, Illinois

FAQs

What type of property is this?
Office property - 15,779 SF Vacant Office Condo, Downtown Chicago
Where is the office property located?
The property is located at 55 Wacker Dr Chicago, IL.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: 15,779 SF vacant office condo at 55 W Wacker Drive, Suite 200, Chicago, IL, priced at $1,575,000 ($100/SF).; Prime location 350 feet from Google's new Thompson Center, offering significant upside potential due to Google's $280 million investment and planned employee relocation.; Exceptional Wacker Drive location in the heart of Chicago's Central Loop, considered a best-in-class office address.
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55 Wacker Dr
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