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    5010 S State St Chicago, IL 60609

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    For Lease
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    COMMERCIAL - Chicago, IL

    Property size:
    17,749 SF
    Lot size:
    1.00 Acre
    Days on Market:
    2
    Last Refresh:
    Mar 6 at 5:06 pm

    Property Features for 5010 S State St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    COMMR
    Size
    17,749 SF
    Lot size
    1.00 Acre

    Building Details

    Year built
    1969
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    Brick, Block, Steel Siding

    We can help!

    Listing Contact
    Moses Hall
    Moses Hall

    MoHall Commercial & Urban Development LLC (312) 826-9925

    Listing agent Moses Hall (312) 826-9925

    Listing date Mar 5, 2026

    MLS# 12584342

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Versatile Commercial Space in Bronzeville

    Located in Chicago's Bronzeville neighborhood, 5010-5020 S. State Street offers a commercial leasing opportunity within a freestanding building. The property encompasses approximately 17,749 square feet of flexible space, including a ground floor and mezzanine. Zoned B3-2 (Community Shopping District), the property allows for a wide range of uses, including warehouse/distribution, showrooms, auto services, and creative commercial projects. Originally built as a supermarket, the structure features an expansive open floor plan with four separate entrances/exits and ceiling heights of 16-19 ft. It includes new ADA-compliant restrooms, and an existing mezzanine already plumbed for additional facilities. The property sits on a large 1+ acre parcel, including parking for 60 vehicles on-site. The location is a few blocks from the Dan Ryan Expressway (I-90/94) and multiple CTA train stations (Red Line and Green Line). State Street is a high-visibility commercial corridor with an estimated 21,000 vehicles per day. The address lies in Chicago's Ward 03, an area benefiting from City investment initiatives. The Bronzeville neighborhood is part of the City's INVEST South/West revitalization corridor. The multi-phase Legends South project is redeveloping the former 140-acre Robert Taylor Homes site into a mixed-income community, with 2,400 new homes planned and new retail amenities now under construction. The Bronzeville Lakefront development is underway, projected to create 20,000 new permanent and temporary jobs upon completion.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    C&Schimneycleaning Services General Contractor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6266653
    Latitude
    41.8033876

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    FAQs

    What type of property is this?
    Showroom - Freestanding building with flexible space in a transforming neighborhood.
    Where is this showroom located?
    The property is located at 5010 S State St Chicago, IL.
    What are key features of this property?
    This property features: - Prime location in transforming Bronzeville, benefiting from massive nearby developments.; - Excellent accessibility with close proximity to Dan Ryan Expressway and multiple CTA train lines.; - Flexible B3-2 zoning allows for a wide range of uses.
    (312) 826-9925
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    Chicago, IL 60609
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5010 S State St Chicago, IL 60609
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    We can help!
    Listing Contact
    Moses Hall
    Moses Hall
    Real Estate License ID: 471019687
    (312) 826-9925
    Learn more
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