120 S State St, Chicago, IL
Full-floor work/live space with panoramic views and direct elevator access.
- Added:
- Mar 25, 2025
- Days on Market:
- 468
- Last Refresh:
- May 20 at 8:12 pm
Property Features for 120 S State St
General Information
- Standard status
- Active
- Size
- 2,300 SF
- Lot size
- 0.07 Acres
- Property subtype
- OFFICE
Listing office Caton Commercial (512) 786-2800
Listing date Mar 25, 2025
Source Moodyscre
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Caton Commercial
HighLights
- 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.
- Currently configured as a functional dental office with a 1‑bedroom residential suite.
- Prime location with convenient access to CTA buses, Red Line, and Loop L stops.
- Dental equipment included in the purchase.
Overview
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $88.3k | $38.40 |
| − Vacancy | −$22.5k | −$9.79 |
| EGI | $65.8k | $28.61 |
| − OpEx | −$16.4k | −$7.15 |
| NOI | $49.3k | $21.46 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6281
- Latitude
- 41.8802
