Garland Building — Sale in Chicago, IL

  • Price: $75K
  • Listing type: For sale
  • Asset type: Office
  • Location: Chicago, IL 60602
  • Submarket: East Loop
  • Size: 2,800 SF
  • Year built: 1916

Photos

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Investment Figures

Price per square foot
$27
Price per unit
$75,000 across 1 units

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

Position your business in the heart of Downtown Chicago with this 2,800 SF commercial condominium located on the 16th floor of the iconic Garland Building at 111 N. Wabash Avenue. Built in 1917, this architecturally significant property blends historic character with modern functionality, offering a professional environment ideal for medical, office, or research users. The flexible floor plan allows for a variety of configurations, whether you are seeking a medical suite, legal office, creative workspace, or financial services operation. The space benefits from central HVAC, wet sprinkler system, separate electrical meters, and access to central building services. Offered as a commercial condo, this opportunity provides long-term control of occupancy in one of Chicago’s most recognized business corridors. The B-2 zoning supports a wide range of office and commercial uses, making it well suited for owner-users or professional practices seeking a permanent Downtown presence. Building SF: 2800 | Year Built: 1916 | Listing Type: FOR SALE

Market Context

This office in Chicago, IL is listed for sale at $75,000 across 2,800 SF ($62/SF). The building dates to 1916. 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 27.2% vacancy rate, and average asking rents near $45.41/SF/yr. Source: multiple brokerage reports, Q1 2026.

Above-average vacancy gives buyers leverage and a wide set of comparables.

Office market FAQ

Is the Chicago office market tightening or softening?
Vacancy is around 27.2% (Q1 2026).

Estimated Price per SF

$37.63/SF – $273.70/SF

Mid: $114.04/SF

Estimated price for 2,800 SF: $319,312 (range $105,364 – $766,360)

About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.

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