228 Wabash AveChicago, IL 60604

Property Details for 228 Wabash Ave

Year built

1925

Lot size

0.21 AC

Property size (Sq ft)

68,800 SF

Property type

Office buildings

APN

17-15-104-015

APU

1715104015

Description

This prestigious 10-story, 84,000 square foot building, constructed in 1930, offers a unique blend of historic charm and modern functionality. Located in Chicago's vibrant East Loop, near historic Route 66, this property boasts 7 available office spaces ranging from 1,303 to 4,700 contiguous square feet, with a total of 7,228 square feet currently vacant. The building features efficient floor plates, abundant natural light from large windows on three sides, upgraded elevators and lobby, and individual HVAC controls. High ceilings and compact floor plans are ideal for small to mid-sized tenants seeking a creative and inspiring workspace. Its prime location provides easy access to Grant and Millennium Parks, Michigan Avenue, and various public transportation options including the Pedway, CTA, Metra, and numerous parking garages. The proximity to the Thompson Center, Daley Center, City Hall, Prudential Plaza, and federal and county courts adds to its exceptional convenience. This is a rare opportunity to secure office space in a landmark building within a thriving and highly accessible area of Chicago.

• CAP approach

  CAP return

  Valuation

  6%

  $22,110,360

  6.5%

  $20,409,562

  7%

  $18,951,736

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,961,200

  Geo Method

  $8,961,200

• Alternative Use

  Use

  Valuation

  Residential

  $25,307,858

  Hospitality

  $23,181,862

  Educational

  $19,287,036

  Medical

  $19,950,348

  Retail

  $30,002,056

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.8786

Longitude

-87.6266

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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