120 S State St 8th Floor, Chicago, IL 60603
Unique live/work space in historic Gothic Revival Singer Building.
- Added:
- Nov 15, 2024
- Days on Market:
- 571
- Last Refresh:
- May 12 at 9:01 pm
Property Features for 120 S State St 8th Floor
General Information
- Standard status
- Active
- Size
- 2,300 SF
- Property subtype
- Office
Building Details
- Year Built
- 1924
Listing agent Zane McCartney License #IL 761095
Listing office Caton Commercial Real Estate Group
Listing date Nov 15, 2024
Source Crexi
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 Real Estate Group
HighLights
- Unique, historic Gothic Revival building designed by Mundie & Jensen.
- Loft‑like interior with 11'5" concrete ceilings, oak floors, and exposed brick.
- One unit per floor providing exclusivity.
- Private elevator key for direct floor access.
- Mix of residential and office use possibilities.
- Assigned storage and nearby rental/deeded parking options.
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
- -87.6280977
- Latitude
- 41.8801536
