111 N Wabash Ave - Garland Building - Office — Lease in Chicago, IL

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Office
  • Location: Chicago, IL 60602

Description

Positioned in the heart of Chicago’s iconic Loop, Suite 2101 at 111 N Wabash Avenue offers a prime opportunity for a business seeking a professional, high-profile office environment. This 800-square-foot corner penthouse office space is located on the 21st floor of a classic downtown office tower—placing tenants above the bustle of State Street and within walking distance of Millennium Park, public transit, and countless dining and retail options. Currently built out as a turnkey office, the suite features a flexible open layout suitable for private offices, a small team workspace, or client-facing operations. Large windows provide ample natural light and sweeping city views, creating an inspiring atmosphere for productivity and professionalism. With a monthly rent of $2,800 (gross), this office provides exceptional value for a central Loop location surrounded by major employers, law firms, and financial institutions. The building itself offers on-site management, secure access, elevators, and proximity to CTA lines and parking garages—ensuring convenience for both employees and visitors. Whether you’re an established professional, creative agency, or boutique consultancy, Suite 2101 at 111 N Wabash Avenue delivers a refined office setting in one of Chicago’s most sought-after business addresses. Listing Type: FOR LEASE

Market Context

This office in Chicago, IL is listed for lease. It has been on the market for 71 days. Compare it against other office listings for lease 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 space leases 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).

Estimated Market Rate

$5.65/SF/mo – $7.64/SF/mo

Mid: $6.64/SF/mo

Rate-first confidence-weighted blend with cost-of-business adjustment.

Based on comparable properties in similar markets rather than local sales.

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