Listing provided courtesy of Millennium Properties RE, Inc.MREDas Distributed by MLSGrid- MLS# 11891272MLS Provider

50 E Washington StreetChicago, IL 60602

Commercial · 259,000 Sq. ft.
$1,250,000 Active

50 E Washington Street Overview

Time on Site:
916 days
Visits:
7

A 12,386 square foot turn-key condominium situated on the northeast corner of Wabash Avenue and Washington Street in the Jewelers Row District. Located on the third floor, the suite is built-out with high-end finishes and benefits from incredible unobstructed views of Lake Michigan, Millennium Park, and the city. The unit has been improved with numerous offices, conference rooms, a kitchen and is in move-in condition. Because the space can be easily sub-divided, this is the perfect opportunity for a user or investor. There is also the potential for SBA financing which offers low interest rates and favorable terms. The unit is part of the historic 21-story Garland Building, which was constructed in 1914 and contains 259,000 square feet of commercial space and has approximately 170 units. The property continues to sustain high occupancy levels with stable long-term tenants from the medical, dental, financial, legal and non-profits sectors. On-site valet parking is available. The East Loop submarket is a highly desirable location due to its proximity to government buildings, restaurants, shopping, entertainment and other amenities. Specifically, this high visibility location is just a few blocks away from Millennium Park and has easy access to public transportation, parking and expressways. This busy corridor benefits from the high traffic and foot counts.

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50 E Washington Street Facts & Features

  • Type Commercial
  • Sq. ft. 259,000
  • Price/Sq.ft. $5

Details

General

Income/Expenses

  • Gross Income: 0
  • Gross Scheduled Income: 0
  • Net Operating Income: 0
  • Operating Expense: 0

Building Information

  • Year Built: 1914

Location/Region

  • County Or Parish: Cook
  • MLS Area Major: CHI - Loop

Rent/Lease Information

  • Tenant Pays: All Utilities

Tax Information

  • Tax Annual Amount: $0.00
  • Tax Year: 2021

General Information

  • Parcel Number: 17103090161007
  • Property Sub Type: Office
  • Property Type: Commercial Sale

Interior

Building Interior

  • Building Area Total: 259000

General Information

  • Cooling: Central Air
  • Electric: Other
  • Leasable Area: 12386
  • Stories: 21

Unit Information

  • Unit SqFt.: 12386

Exterior

Lot Information

  • Additional Parcels: Yes
  • Lot Size Dimensions: 259000
  • Lot Size Square Feet: 259000

50 E Washington Street Neighborhood

Community

60602 (CHICAGO) Demographics

34
Median Age
18,333
Population Density (per sq. mile)
94%
College Educated
$226,276
Estimated Median Income
437
Estimated Total Home Owners
540
Estimated Total Renters
45% / 55%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

50 E Washington Street Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

50 E Washington Street Market Data

Based on the last 30 days in this zip code

$612,082
Average List Price
$441
Average Price per Square Foot
4
Properties Sold
71
Average Days on Market
17
Properties for Sale
Calculations provided by Reliance Network