Office for Sale in Chicago, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Chicago, IL 60606
  • Size: 207,506 SF

Description

205 W Randolph offers investors the opportunity to acquire a distinctive office asset at the intersection of Chicago’s West Loop and Central Loop. The property features a strong and diverse tenant mix with meaningful value-add potential through lease-up.

Market Context

This office in Chicago, IL is listed for sale across 207,506 SF. It has been on the market for 21 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

$31.18/SF – $42.18/SF

Mid: $36.68/SF

Total estimate for 207,506 SF: $7,611,320

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

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