Water Tower Place

Off-Market

845 North Michigan Avenue, Chicago, IL 60611

This property is off-market. Unlock in-depth property data and market insights by signing up to CommercialEdge.

  • Property Type Retail - Regional Mall
  • Property Size 702,903 SF
  • Lot Size 2.62 Acre
  • Parking Spaces Avail. 695
  • Parking Ratio 0.99 / 1,000 SF
  • Property Tenancy Multi-Tenant
  • Year Built 1976

Contacts

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Owner

  • True Owner
  • Registered Owner

Brokers

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Documents

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Sales

  • Purchase Date 12 Apr, 2022
  • Purchase Price
  • Arm's Length True
  • Buyer Name

Market Trends

Average Actual Rents in Chicago

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Chicago Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2022 Avg. Asking Rent $36.90
  • 2022 Office Vacancy Rate 15.59%
  • 2022 Office Completions (SF) 2,567,705

Chicago Office Sales Trends

All sale prices are based on publicly recorded, verified sales.

  • 2022 Avg. Price per SF $227.03
  • Y-o-Y Avg. PpSF Change -35.57%
  • 2022 Office Sales Volume $1.1B
  • 2022 Number of Transactions 24
View more Chicago market trends

Location

Getting Around

  • Walk Score ®

    99/100 Walker's Paradise
  • Transit Score ®

    89/100 Excellent Transit
  • Bike Score ®

    79/100 Very Bikeable
Powered by Walk Score ®
  • City Chicago, IL
  • Neighborhood Streeterville
  • Zip Code 60611
  • Market Chicago

Points of Interest

  • Chicago

    0.27 miles

  • Grand

    0.50 miles

  • Clark/Division

    0.62 miles

  • Chicago

    0.65 miles

  • Merchandise Mart

    0.85 miles

  • State/Lake

    0.88 miles

  • Clark/Lake

    0.94 miles

  • Millennium Station

    0.95 miles

  • Lake

    0.96 miles

  • taxi rank

    1.02 miles

  • BP

    0.56 miles

  • Shell

    0.74 miles

  • Tesla Supercharger

    0.81 miles

  • Shell

    1.04 miles

  • BP

    1.13 miles

  • Tesla Supercharger

    1.40 miles

  • BP

    1.56 miles

  • BP

    2.04 miles

  • Shell

    2.06 miles

  • Shell

    2.08 miles

  • Huron-Superior Self Park

    0.20 miles

  • Northwestern University Parking

    0.34 miles

  • Rush-Ohio-Wabash Self Park

    0.39 miles

  • Parking Garage

    0.42 miles

  • North Bridge Self Park

    0.47 miles

  • Grand Plaza parking

    0.49 miles

  • Grand Plaza Parking

    0.51 miles

  • State-Kinzie-Wabash Self Park

    0.62 miles

  • Anti-Cruelty Society Parking

    0.71 miles

  • Ohio Public Parking

    0.72 miles

  • Mity Nice

    0.01 miles

  • M Burger

    0.01 miles

  • The Cheesecake Factory

    0.05 miles

  • The Signature Room at the 95th

    0.06 miles

  • Harry Caray's 7th Inning Stretch

    0.06 miles

  • Wildberry

    0.06 miles

  • Dos Toros

    0.07 miles

  • Benihana

    0.08 miles

  • Francesca's on Chestnut

    0.09 miles

  • Marisol

    0.10 miles

  • Water Tower Place

    0.03 miles

  • Neiman Marcus

    0.14 miles

  • Saks Fifth Avenue

    0.19 miles

  • Whole Foods Market

    0.29 miles

  • Marshalls

    0.35 miles

  • Trader Joe's

    0.35 miles

  • Bockwinkel's

    0.42 miles

  • The Shops at North Bridge

    0.46 miles

  • Nordstrom

    0.48 miles

  • Jewel-Osco

    0.49 miles

Frequently Asked Questions

What is the total square footage of Water Tower Place?

Water Tower Place totals 702,903 square feet.

When was Water Tower Place last sold?

Water Tower Place was last sold on 12 Apr, 2022.

What is the property tax for Water Tower Place?

The property tax for Water Tower Place in 2022 was $12,072,630.

What is the market value for Water Tower Place?

The market value* for Water Tower Place in 2022 was $240,142,855.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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