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    120 S State St Chicago, IL 60603

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    For Sale
    $998,000

    Full-floor work/live space with panoramic views and direct elevator access.

    Property size:
    2,300 SF
    Lot size:
    0.07 Acres

    Property Features for 120 S State St

    General Information

    Size
    2,300 SF
    Lot size
    0.07 Acres

    Source: Caton Commercial Agent Zane McCartney

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Chicago Work/Live Space

    This is a unique opportunity to own a part of Chicago's historic architecture. Unit 8 is a full-floor 2,300 SF work/live space with direct elevator access, hardwood flooring, and soaring ceilings. The front corner windows provide panoramic views of State Street and the Palmer House, adding to the charm of this versatile unit. The space currently functions as a stunning 3-operatory dental office with a 1-bedroom, 1-bathroom residential suite. The building's mixed-use classification as a residential and office property reduces the tax burden by nearly 50%, making it an advantageous investment opportunity. Convenient transportation options are available right outside the front door, including CTA buses, the Red Line underground station, and all Loop L stops. Dental equipment is included in the purchase and is currently leased to the tenant's practice.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Alternative Legal Services Legal Services Star Realty & Management ... Real Estate Agency Rhoades Levy Law ... Estate Planning Attorney Mark Szaflarski Consultant Patula & Associates P.C. Legal Services

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6280977
    Latitude
    41.8801536

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    FAQs

    What type of property is this?
    Office space - Full-floor work/live space with panoramic views and direct elevator access.
    Where is this office space located?
    The property is located at 120 S State St Chicago, IL.
    What is the asking price?
    The asking price for this property is $998,000.
    What are key features of this property?
    This property features: - Significant tax reduction (nearly 50%) due to mixed-use classification.; - Enjoy panoramic views of State Street and the Palmer House.; - Full-floor 2,300 SF work/live space with direct elevator access.
    (512) 786-2800
    Request Owner's contact information
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    Realmo Value Estimation

    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.

    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.

    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
    120 S State St Chicago, IL 60603
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