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121 W Wacker Dr
Chicago, IL 60601
121 West Wacker · Office Property For Sale
·
441,034 SF
INVESTMENT HIGHLIGHTS
- Prime riverfront location at the nexus of Wacker Drive and LaSalle Street, offering unmatched visibility and access
- Diverse tenant base with small suite sizes supports leasing flexibility and stability
- Art Deco architecture and modern upgrades combine to attract today’s image-conscious tenants
- Renovated lobby and 24th-floor amenity center enhance tenant experience and leasing appeal
- Street-level retail component adds income diversity and future upside potential
- Proven leasing velocity and rental rate growth driven by repositioning success
EXECUTIVE SUMMARY
121 West Wacker presents a rare opportunity to acquire a majority interest in a repositioned, Art Deco office tower in the heart of downtown Chicago. Situated prominently along the Chicago River at the intersection of Wacker Drive and LaSalle Street, this 41-story architectural icon offers investors a compelling blend of historical character and modern functionality. The building has undergone a comprehensive renovation, including a refreshed lobby and a 24th-floor tenant amenity center, positioning it as a preferred destination for tenants seeking a central, transit-oriented location with vintage charm. Currently 63% leased to a diverse mix of 54 tenants, the property benefits from a granular rent roll and a balanced rollover schedule, with a weighted average lease term of four years. Ownership has achieved above-market leasing velocity, driven by the building’s irreplaceable location and upgraded infrastructure. The offering includes 426,161 square feet of net rentable area, representing 96.6% of the building’s total, and includes valuable street-level retail that diversifies income and offers additional upside. With its fortress riverfront positioning, timeless design, and proven leasing momentum, 121 West Wacker offers investors a stable, income-producing asset with long-term value appreciation potential in one of the nation’s most resilient office markets.
PROPERTY FACTS
| Total Building Size | 441,034 SF | Typical Floor Size | 16,000 SF |
| Property Type | Office | Year Built | 1929 |
| Building Class | B | Lot Size | 0.48 AC |
| Floors | 41 | Parking Ratio | 0.22/1,000 SF |
| Zoning | DC-16, Chicago - Downtown Core District | ||
| Total Building Size | 441,034 SF |
| Property Type | Office |
| Building Class | B |
| Floors | 41 |
| Typical Floor Size | 16,000 SF |
| Year Built | 1929 |
| Lot Size | 0.48 AC |
| Parking Ratio | 0.22/1,000 SF |
| Zoning | DC-16, Chicago - Downtown Core District |
AMENITIES
- 24 Hour Access
- Banking
- Conferencing Facility
- Fitness Center
- Property Manager on Site
- Restaurant
- Signage
- Roof Terrace
2 UNITS AVAILABLE
Unit 3800
| Unit Size | 5,000 SF | Sale Type | Investment |
| Condo Use | Office |
| Unit Size | 5,000 SF |
| Condo Use | Office |
| Sale Type | Investment |
Unit Flrs UG-41
| Unit Size | 416,161 SF | Sale Type | Investment |
| Condo Use | Office/Retail |
| Unit Size | 416,161 SF |
| Condo Use | Office/Retail |
| Sale Type | Investment |
DESCRIPTION
These condos represents 95% of the building SF.
