Office for Sale in Chicago, IL

  • Price: $550K
  • Listing type: For sale
  • Asset type: Office
  • Location: Chicago, IL 60614
  • Size: 1,809 SF
  • Year built: 2007

Description

KW Commercial has been exclusively engaged to market the sale of 1725 N Burling St., a two-story commercial office building in the heart of Lincoln Park neighborhood. This well-equipped and highly functional commercial office building presents a rare opportunity for investors or owner-users seeking a modern, infrastructure-rich office. The property offers a large conference room for meetings, as well as shared workspace and personal desks on both the second and basement levels. Common space includes 2 bathrooms, a kitchen, and ample storage closets throughout. A shared elevator with the condo building next door offers ADA-compliant wheelchair entry from the main lobby, as well as integrated keypad security and a fire annunciator system also connected to the neighboring building for enhanced safety and compliance. The interior offers a professional environment enhanced by radiant floor heating beneath hardwood on the first floor, modern LED recessed and track lighting, and individual HVAC controls on the first and second floor, and an additional split HVAC system for the lower level. Utility infrastructure is robust, featuring a main water shut-off, individual gas and electric meters, and both ejector and sump pumps for wastewater and rain drainage. Technology needs are well accommodated with Cat6 network cabling throughout all levels, a central server setup in the lower level, and a dedicated Comcast cable line that runs from the rear of the building. Shared elements include garbage service and building systems tied into the adjacent property, including elevator access to a shared rooftop. Building SF: 1809 | Land Size: 4580.0 SF | Year Built: 2007 | Listing Type: FOR SALE

Market Context

This office in Chicago, IL is listed for sale at $550,000 across 1,809 SF ($304/SF). The building dates to 2007. 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

$137.52/SF – $186.06/SF

Mid: $161.79/SF

Total estimate for 1,809 SF: $292,678

Rate estimator only; cost-of-business estimate unavailable.

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