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    540 N State St Chicago, IL 60654

    For Lease
    Contact for pricing

    Retail space at base of residential units near Bally's Casino.

    Property size:
    33,285 SF
    Lot size:
    1.79 Acres

    Property Features for 540 N State St

    General Information

    Size
    33,285 SF
    Lot size
    1.79 Acres

    Source: Baum Realty Agent Doug Renner

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

    Overview

    Retail Space in Prime Location

    This retail space is located at the base of a building with 764 residential units and offers access to a 1,100-space on-site parking garage. Current co-tenants include Rush Medical, Jewel-Osco, Instituto Cervantes, and Chipotle. The property is situated near Shops at Northbridge, Eataly, Nordstrom, Tree Studio Shops, Mastro’s, Yardbird, and Steak48. It is also located steps from the newly opened Bally’s Casino (Medinah Temple) and the proposed First Station redevelopment at 450 N. Dearborn Street. The property offers 33,285 square feet of retail space.
    Location Intelligence

    Current Use by Public Records

    Double Dog Photography Photographer LAZ Parking Parking Garage Avail Car Sharing Car Sharing Location Brooks Recruiting Recruiter Sky Financial Intelligence ... Corporate Office

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Daycare Center Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.628612
    Latitude
    41.8919193

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    FAQs

    What type of property is this?
    Retail space - Retail space at base of residential units near Bally's Casino.
    Where is this retail space located?
    The property is located at 540 N State St Chicago, IL.
    What are key features of this property?
    This property features: - Steps from Bally’s Casino and proposed First Station Redevelopment.; - Located at the base of **764 residential units**.; - **1,100 on-site parking garage**.
    (312) 666-3000
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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
    540 N State St Chicago, IL 60654
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