Listing banner image
  • Property Type
    OfficeProperty Type
  • Occupancy
    63%Occupancy
  • Stories
    41Stories
  • Ownership Interest
    Fee SimpleOwnership Interest
  • Year Renovated
    2017Year Renovated
  • Building Class
    ABuilding Class

Description

121 West Wacker offers a prime investment opportunity in the heart of Chicago’s Central Business District. This 441,034-square-foot Class A office tower, built in 1930 and extensively renovated in 2017, features 41 stories and 83 covered parking spaces.

Currently at 63% occupancy, the property presents significant lease-up potential with 426,161 square feet of available space, ideal for investors seeking value-add opportunities in a premier location. In-place rents average $24 per square foot, approximately 4.5% below market rates, highlighting the upside potential through lease adjustments...

Documents

Offering Summary

  • Asking Price
    UnPriced
  • Property Type
    Office
  • Size
    441,034 SF
  • Available
    426,161 SF
  • Occupancy
    63%
  • Built
    1930
  • Parking
    Covered

Sale Details

  • Walt
    4 Years
  • In-Place Rents
    24
  • Rents Below Market
    4.50%

Documents

Property Address

121 West Wacker Drive
Chicago, IL 60601

Deal Team

Tom Sitz profile image
Tom Sitz
Executive Managing Director Executive Managing Director
IL RE Lic. 475145340
Cody Hundertmark profile image
Cody Hundertmark
Executive Managing Director Executive Managing Director
IL RE Lic. #475161542
Kelsey Berry profile image
Kelsey Berry
Senior Associate Senior Associate

Description

121 West Wacker offers a prime investment opportunity in the heart of Chicago’s Central Business District. This 441,034-square-foot Class A office tower, built in 1930 and extensively renovated in 2017, features 41 stories and 83 covered parking spaces.

Currently at 63% occupancy, the property presents significant lease-up potential with 426,161 square feet of available space, ideal for investors seeking value-add opportunities in a premier location. In-place rents average $24 per square foot, approximately 4.5% below market rates, highlighting the upside potential through lease adjustments...

Documents

Offering Summary

  • Asking Price
    UnPriced
  • Property Type
    Office
  • Size
    441,034 SF
  • Available
    426,161 SF
  • Occupancy
    63%
  • Built
    1930
  • Parking
    Covered

Sale Details

  • Walt
    4 Years
  • In-Place Rents
    24
  • Rents Below Market
    4.50%

Documents

Property Address

121 West Wacker Drive
Chicago, IL 60601

Deal Team

Tom Sitz profile image
Tom Sitz
Executive Managing Director Executive Managing Director
IL RE Lic. 475145340
Cody Hundertmark profile image
Cody Hundertmark
Executive Managing Director Executive Managing Director
IL RE Lic. #475161542
Kelsey Berry profile image
Kelsey Berry
Senior Associate Senior Associate
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