Office for Sale in Chicago, IL

  • Price: $79K
  • Listing type: For sale
  • Asset type: Office
  • Location: Chicago, IL 60602
  • Size: 259,000 SF
  • Year built: 1917

Description

For Sale – Executive Office Condo | Garland Building | Chicago Loop Offered at $79,000 KW Commercial, as the exclusive broker, is pleased to present the opportunity to acquire a professionally designed executive office suite located in the iconic Garland Building at 111 N Wabash Ave, Unit 1726, Chicago, IL 60602. Offered at $79,000, this 355-square-foot office condo on the 17th floor delivers a rare opportunity to own office space in one of the most vibrant, connected, and iconic corridors of downtown Chicago. Unit 1726 features expansive, unobstructed views of Lake Michigan, Millennium Park, Cloud Gate (“The Bean”), and Michigan Avenue—providing an inspiring and prestigious work environment for professionals across all industries. The Garland Building is home to a mix of physicians, attorneys, therapists, consultants, and financial professionals, all benefitting from a well-managed, service-oriented, and historic commercial building in the heart of the Loop. Located directly across from Macy’s on State Street, this office is just steps from Michigan Avenue’s Magnificent Mile—Chicago’s premier shopping, hotel, and cultural destination. Nearby attractions include the Chicago Cultural Center, Millennium Plaza, Art Institute of Chicago, Grant Park, and the Lakeshore Trail. The location places you at the intersection of commerce, tourism, and professional services, with unrivaled access to clients, amenities, and transportation. Transportation Access Highlights: Immediate access to CTA Red, Brown, Green, Orange, Pink, and Blue Line stations (Washington/Wabash, State/Lake, and Lake) Multiple CTA bus routes serve Wabash, Michigan Ave, and State Street Short walk to Millennium Station (Metra Electric) and convenient access to Ogilvie & Union Stations via Pedway or surface routes Easy access to Lake Shore Drive and major expressways This turn-key office condo is ideal for owner-users or investors seeking boutique office space in one of Chicago’s most recognizable and access

Market Context

This office in Chicago, IL is listed for sale at $79,000 across 259,000 SF ($0/SF). The building dates to 1917. It has been on the market for 38 days. Compare it against other office listings for sale in Chicago, IL — <a href="/search/sale/office/illinois/chicago">view the full market</a>.

As of Q1 2026, the Chicago office market showed a 26.9% vacancy rate, average asking rents near $45.41/SF/yr, rents up 5.2% year over year, and cap rates around 9.8%. Source: Consensus Q1 2026 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Office market FAQ

What is the typical cap rate for office in Chicago?
About 9.8% as of Q1 2026, per Consensus.
Is the Chicago office market tightening or softening?
Vacancy is around 26.9%, with asking rents rising year over year (Q1 2026).

Unified Estimate

Medium Confidence

$10.60/SF – $14.34/SF

Mid: $12.47/SF

Total estimate for 259,000 SF: $3,229,730

Rate-first confidence-weighted blend with cost-of-business adjustment.

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