Office for Sale in Chicago, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Chicago, IL 60611

Description

Welcome to 737 North Michigan, a prestigious corporate environment, exemplifying style and sophistication. Designed by Skidmore Owings and Merrill with a uniquely curved exterior, 737 North Michigan is an eye-catching architectural addition to the Magnificent Mile in Chicago. With beautiful clad granite panels that taper as they ascend and floor to ceiling windows providing dramatic city views the structural design is both stunning and brilliant. Consisting of 335,000 square feet of Class A office space, Neiman Marcus, luxury condominiums and a 435 car underground parking facility, 737 North Michigan caters to a diverse, high-profile audience. A recently renovated artistically inspired lobby with striking limestone floors, handsome eucalyptus wood veneered panels, and skillfully designed energy efficient lighting provides a welcoming arrival for office tenants and visitors. Superior access to distinguished hotels, luxurious spas, award-winning restaurants, and world famous stores and healthcare facilities offer convenience and office elegance on the Avenue.

Market Context

This office in Chicago, IL is listed for sale. It has been on the market for 147 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).

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