Medical Office Space For Lease | Lincoln Park — Lease in Chicago, IL

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Office
  • Location: Chicago, IL 60614
  • Size: 6,613 SF
  • Year built: 1972

Description

Position your business in one of Chicago’s most active and visible corridors at 2400 N Ashland Avenue. This second-floor medical office suite offers 2,268 SF of fully built-out, move-in-ready space ideal for medical, wellness, or professional office users seeking a clean, efficient layout without the cost and time of buildout. The space is in excellent condition and features a functional layout with private offices, treatment rooms, and reception area—designed to support a seamless transition for a new tenant. Located in a well-maintained elevator building, the suite provides convenient access for patients and clients, a key advantage for medical and service-oriented uses. The property also offers on-site parking, a rare amenity in this submarket, along with strong visibility along Ashland Avenue and close proximity to Fullerton, public transit, and surrounding retail and residential density. With a competitive leasing environment in the area, this space is strategically priced to attract quality tenants while providing flexibility based on lease structure and term. Building SF: 6613 | Year Built: 1972 | Listing Type: FOR LEASE

Market Context

This office in Chicago, IL is listed for lease across 6,613 SF. The building dates to 1972. 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

Estimated total for 6,613 SF: $43,910 per month

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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