6040 Hohman Ave — Sale in Chicago, IL

  • Price: $500K
  • Listing type: For sale
  • Asset type: Office
  • Location: Chicago, IL 60617
  • Size: 6,600 SF
  • Year built: 1969

Investment Figures

Price per square foot
$76

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

The class C office property located at 6040 S. Hohman Ave., Hammond, Indiana 46320, is presented for sale. Built in 1969, the property has a total building size of 6,600 SF, with a typical floor size of 3,300 SF. The current zoning is R-1 for Hammond, Indiana, allowing for residential or office use, subject to a Conditional Use Permit. The R-1 zoning emphasizes the residential character of the district, accommodating single-family dwellings on smaller lots. Nonresidential uses, such as educational facilities, recreational spaces, and essential services, are permitted under conditional use approval. These uses are expected to harmonize with the urban nature of Hammond and contribute positively to the surrounding residential environment. The property aligns with the R-1 zoning regulations, which outline the conditions for erecting, altering, or using a building for specified purposes. Notably, the conditional use permit allows for uses such as libraries and two-family attached dwelling units within specific parameters. Prospective buyers should consider the property's historical context, zoning regulations, and potential for diverse uses in alignment with the R-1 zoning criteria. This offering presents a valuable opportunity in a well-established residential district with the flexibility to serve various community needs. Building SF: 6600 | Year Built: 1969 | Listing Type: FOR SALE

Market Context

This office in Chicago, IL is listed for sale at $500,000 across 6,600 SF ($76/SF). The building dates to 1969. It has been on the market for 72 days. Compare it against other office listings for sale in Chicago, IL — view the full market.

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: multiple brokerage reports, Q1 2026.

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 multiple brokerage reports.
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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