Office in Chicago, IL — Sale in Chicago, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Chicago, IL 60612

Photos

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Description

New Listing: 30,000 SF Headquarters Fully Leased by State of Illinois, 25 Year Tenant Tenure, Just Signed 5th Renewal CBRE, Inc. is exclusively representing the sale of 1110 South Oakley Boulevard (“The Property”), a fully leased government property investment in Chicago’s Tri-Taylor neighborhood. This ±30,000 square foot, three-story building is currently fully leased to the Illinois Department of Corrections for use as its headquarters office. Tenant has occupied the property for over 25 years due to its close proximity to nearby correctional facilities and courts and is anticipated to continue as a reliable tenant well into the future due to limited nearby available office space which can accommodate the Department of Corrections’ use. This headquarters property is centrally located for all of Chicago’s Sergeants, Lieutenants and Captains for the Illinois Department of Corrections. The State of Illinois (Department of Corrections) has an A- S&P Global Credit Rating. Investment Highlights: • Government headquarters building for parolees and parole officers, only 1 of 3 in the State of Illinois • Tenant requires a standalone building making 1110 South Oakley an ideal headquarters site • Current Rent for tenant is well below Market Rent of $30.50 PSF in South Chicago Sub-Market • Tenant is on their 5th lease renewal, proving their commitment to the Site and Area To view the Offering Memorandum, please visit the Property Website using the link above.

Market Context

This office in Chicago, IL is listed for sale. 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

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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