Office for Sale in Chicago, IL

  • Price: $550K
  • Listing type: For sale
  • Asset type: Office
  • Location: Chicago, IL 60647
  • Size: 2,806 SF
  • Year built: 1930

Description

Prime hard-corner location at Western Avenue and North Avenue in the heart of the Wicker Park neighborhood. Highly visible 2,806 SF retail building situated on a 3,075 SF lot with strong pedestrian and vehicular traffic. B3-2 zoning allows for a wide range of commercial uses and offers excellent potential for new development. Corner exposure provides outstanding signage and branding opportunities. Well-suited for retail, office, service, or neighborhood-focused users, with convenient access to public transportation, surrounding amenities, and a dense residential customer base. Building SF: 2806 | Land Size: 3075.0 SF | Year Built: 1930 | Listing Type: FOR SALE

Market Context

This office in Chicago, IL is listed for sale at $549,900 across 2,806 SF ($196/SF). The building dates to 1930. 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

$96.19/SF – $130.13/SF

Mid: $113.16/SF

Total estimate for 2,806 SF: $317,527

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

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