Office for Sale in Chicago, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Chicago, IL 60604

Description

Your Michigan Avenue Oasis The Railway Exchange has been owned by a legacy institution since 2006 and it’s a premier long-term investment. The building has one-of-a-kind amenities that can take you seamlessly from day to night. From health and wellness to entertainment to breathtaking views. The brand-new Exchange Restaurant and Listening Bar offers fast casual, sit-down dining, and elegant bar experience. The building has an expansive Fitness Center with locker rooms to satisfy your workout needs and a beautiful Burnham Penthouse Terrace and Lounge with incredible 180-degree views of Lake Michigan and Grant Park to use as an escape from tenant’s office throughout the workday

Market Context

This office in Chicago, IL is listed for sale. It has been on the market for 148 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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