Office Space - For Sale
233 West Lake Street Chicago, IL 60606
Details & Description
Price: $5,500,000
  • Property Type Office for Sale : Professional
  • Lot Size Acres 0.090
  • Building Sq Ft 17,850
  • Building Price per Sq Ft $308.12
  • Land Sq Ft 3,999
  • Land Price per Sq Ft $1,375.00
The Cross Realty Group and Keller Williams ONEChicago, as the Exclusive Investment Advisors, is pleased to present the opportunity to acquire 233 West Lake Street (the “Property”/”Investment”), a 83% leased, retail & office investment prominently located in Chicago’s central business district ‘The Loop’. The five-story property is situated on 3,999 square feet of land with ±45 feet of frontage along West Monroe Street. The Property’s first floor consists of two retail units with one space being occupied by a Chipotle. The Property’s second, third, and fourth floors consists of office tenants. The Property's fifth floor consists of a residential penthouse that is a 4 bedroom / 3 bathroom units. Chipotle Mexican Grill, Inc. is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. Chipotle had over 3,100 restaurants as of December 31, 2022, in the United States, Canada, the United Kingdom, France and Germany and is the only restaurant company of its size that owns and operates all its restaurants. Chipotle is currently in a 10 year current term to December 2033. The additional retail space gives an investor a runway to add value through reletting the space while maintaining consistent cashflow in the interim. In addition, the landlord has the option to terminate the office space tenant's leases on a floor-by-floor basis as outlined further in the rent roll, allowing an owner-user or investor to backfill the office space at superior rental rates.Located in Chicago’s central business district commonly known as the Loop, the Property sits directly across from Chicago’s iconic Wacker Drive. The Property also features some of the highest pedestrian counts in the city due to its proximity to some of the city’s most important landmarks and destinations as well as the Chicago Transit Authority (CTA) Pink, Green, Orange, Brown & Blue Line ‘L’ stations.The Property features some of the best demographics in the city. Within 1-mile, demographics include an average household income of $155,847, an average home value of $449,136, and a total population of 115,675. 
Additional Photos
Listing Agents
Tony Hardy

O: 773-575-6082
tonyhardy@kw.com
Travis Montgomery

O: 773-946-8816
travis.m@kwcommercial.com
Ariana Abercrumbie

O: 312-216-2422
M: 312-805-3756
ariana@kwcommercial.com
While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

233 West Lake Street

Chicago, IL 60606

Listing ID: 300314
$5,500,000
For Sale
  • Property Type Office for Sale : Professional
  • Lot Size Acres 0.090
  • Building Sq Ft 17,850
  • Building Price per Sq Ft $308.12
  • Land Sq Ft 3,999
  • Land Price per Sq Ft $1,375.00
  • 233 West Lake Street Chicago, IL 60606 | for Sale | Photo 1
  • 233 West Lake Street Chicago, IL 60606 | for Sale | Photo 2
  • 233 West Lake Street Chicago, IL 60606 | for Sale | Photo 3
  • 233 West Lake Street Chicago, IL 60606 | for Sale | Photo 4
  • 233 West Lake Street Chicago, IL 60606 | for Sale | Photo 5
233 West Lake Street | for Sale | Thumbnail 1
233 West Lake Street | for Sale | Thumbnail 2
233 West Lake Street | for Sale | Thumbnail 3
233 West Lake Street | for Sale | Thumbnail 4
233 West Lake Street | for Sale | Thumbnail 5
Description

The Cross Realty Group and Keller Williams ONEChicago, as the Exclusive Investment Advisors, is pleased to present the opportunity to acquire 233 West Lake Street (the “Property”/”Investment”), a 83% leased, retail & office investment prominently located in Chicago’s central business district ‘The Loop’. 

The five-story property is situated on 3,999 square feet of land with ±45 feet of frontage along West Monroe Street. The Property’s first floor consists of two retail units with one space being occupied by a Chipotle. The Property’s second, third, and fourth floors consists of office tenants. The Property's fifth floor consists of a residential penthouse that is a 4 bedroom / 3 bathroom units. 

Chipotle Mexican Grill, Inc. is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. Chipotle had over 3,100 restaurants as of December 31, 2022, in the United States, Canada, the United Kingdom, France and Germany and is the only restaurant company of its size that owns and operates all its restaurants. Chipotle is currently in a 10 year current term to December 2033. The additional retail space gives an investor a runway to add value through reletting the space while maintaining consistent cashflow in the interim. In addition, the landlord has the option to terminate the office space tenant's leases on a floor-by-floor basis as outlined further in the rent roll, allowing an owner-user or investor to backfill the office space at superior rental rates.

Located in Chicago’s central business district commonly known as the Loop, the Property sits directly across from Chicago’s iconic Wacker Drive. The Property also features some of the highest pedestrian counts in the city due to its proximity to some of the city’s most important landmarks and destinations as well as the Chicago Transit Authority (CTA) Pink, Green, Orange, Brown & Blue Line ‘L’ stations.

The Property features some of the best demographics in the city. Within 1-mile, demographics include an average household income of $155,847, an average home value of $449,136, and a total population of 115,675. 

Attachments & Files

Traffic Counts

Points of Interest & Demographic Radii
Points of Interest
Demographic Radii
POIs provided for entertainment purposes only. Data comes from multiple data sources as well as users and agents. MyEListing makes no claims whatsoever as to the accurancy and/or completeness.
 
Chicago History of Office Space for Sale

Loan and Amortization Calculator

Listing Price
Down Payment

Loan Amount:
Interest Rate:
Term (months):

Your Monthly Payment

$0.00

Total Principal: --

Total Interest: --

Total Cost: --

Chicago Area Market Trends

Listing Demographics for 233 West Lake Street Chicago, IL 60606

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population84,465367,028826,672
Population Median Age363736
Population by Age0-9 Yrs4321 (5%)26128 (7%)76405 (9%)
10-19 Yrs3958 (4%)23784 (6%)66389 (8%)
20-29 Yrs25484 (30%)96400 (26%)203298 (24%)
30-39 Yrs24949 (29%)89540 (24%)182855 (22%)
40-49 Yrs9335 (11%)39704 (10%)94168 (11%)
50-59 Yrs7391 (8%)35641 (9%)81406 (9%)
60-69 Yrs5792 (6%)30711 (8%)66999 (8%)
70+ Yrs3234 (3%)25120 (6%)55153 (6%)
Median HH Income$118,980$105,247$85,249
Total Household Income< 24K4912 (10%)26454 (14%)68706 (17%)
25-49K3567 (7%)18677 (9%)52566 (13%)
50-74K5462 (11%)22521 (11%)51842 (13%)
75-99K6166 (12%)22605 (11%)44153 (11%)
100-199K16572 (33%)56947 (30%)99767 (26%)
200K+12410 (25%)41435 (21%)65400 (17%)
Highest Education LevelNo Diploma15831638160139
Diploma or GED23312092979200
Some College38092514469555
Assoc. Degree1502881123697
Bachelors Degree30045113245211508
Higher Degree29025101872168088
Total Housing Units56,903212,597428,685
--Owner-Occupied17,54577,737150,388
--Renter-Occupied31,544110,903232,046
Owner-Occupied Values< 100K32214745125
100-199K411348715188
200-299K31111247026479
300-399K37211423226538
400-499K34901282221680
500K+64903325255378
Total Working Age Population79,484330,278712,806
In Work Force63,938249,032518,824
Not In Work Force15,54681,246193,982
Workforce Employed61,788239,084491,227
Workforce Unemployed2,0949,84827,376
Civlian Workforce63,882248,932518,604
Military Workforce5599220
Total Households49,088188,639382,434
Family Households14,95668,858157,452
Non-Family Households34,132119,781224,982
Married Couple13,20554,835110,539
Other Family1,75114,02346,913
Married w/Child2,97315,91338,826
Single Male w/Child1581,2494,220
Single Female w/Child4104,38916,875

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Illinois12,419,293+312,830,632+1214,316,487+615,138,849
Cook County5,376,741-35,194,675+105,707,832+55,990,243

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Other Office Space Listings for Sale Nearby
Address Price Sq Ft Acres
566 West Lake Street, Chicago, IL CALL 102238 2
111 North Wabash Avenue, Chicago, IL $129,000 1239 -
120 South State Street, Chicago, IL $789,500 2300 0.05
55 East Washington Street, Chicago, IL CALL 258247 0.89
555 West Jackson Boulevard, Chicago, IL $995,000 30000 0.69
400 South Clark Street, Chicago, IL CALL 26800 0.31
232 East Ohio Street, Chicago, IL $6,500,000 29500 0.18
621 South Plymouth Court, Chicago, IL $1,899,000 115000 -
452 North Sangamon Street, Chicago, IL $2,150,000 9200 -
400 South Green Street, Chicago, IL $3,990,000 90000 -
Closest Commercial Airports
Airport Distance (mi)
Chicago Midway International Airport (MDW) 9
Chicago O'Hare International Airport (ORD) 15
South Bend Regional Airport (SBN) 69
Listing Agent
Listing Co-Agent
Tony Hardy  - CRE Agent at

Travis Montgomery

Listing Co-Agent
Tony Hardy  - CRE Agent at

Ariana Abercrumbie

More listings from Tony Hardy
Featured Local Vendors
• SUPPORT OUR FREE PLATFORM •
The below vendors allow us to provide our platform at no cost. Please consider their services when needed.
• Cleaning Company •
Rivas Cleaning Service logo
A clean, sanitized office is here!
• Property Inspection •
White Glove Building Inspections logo
We find what you may have missed!
• Property Inspection •
Home Inspection Star Inc logo
We find what you may have missed!
• Digital Media Services •
View My Space logo
Fly-overs, 3d walkthroughs, & more
• Custom Radius Reports •
Cubit logo
Get the data you need. Click here

Share
Other property types near Chicago, IL