Flex Space with Drive-In
For Sale
Contact for pricing
140 State St, Calumet City, IL 60409
Combined office and warehouse improvements include loading access, suspended gas heat, and a 400 Amp electrical service.
Property Size8,160 SF
Price / SF$119.49
Days on Market311
Property Features for 140 State St
General Information
Standard status
Active
Size
8,160 SF
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
6,000 SF
Office Build-Out
2,160 SF
Dock-High Doors
1
Drive-In Doors
1
Power
400 amps
Amenities
conference room
reception
Building Details
Buildings
1
Building Size
8,160 SF
Listing Agency:
Commercial In-Sites, LLC
Listed By:
David A Lasser
(219) 795-1100
Source:
Moodyscre
Added: Dec 9, 2025
Changed: Oct 7
Last Checked: Oct 16 at 10:27AM
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 Commercial In-Sites, LLC
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Investment Insights
Based on property information with market context.
This flex property combines 8,160 SF of improvements with a 2,160 SF office component and 6,000 SF of warehouse area. The office layout includes 3 offices, a conference room, open reception area, and bathroom. Warehouse features include 2 Reznor suspended gas heaters, a slot floor drain, 3 ceiling fans, transom windows, and a 10'x14' drive-in door. A dock with a 10'x14' overhead door, canopy leveler, and sump pump supports additional loading functionality. Electrical service is 400 Amp, 120/240.
The property is positioned on State Street in Calumet City, between Wentworth Avenue and Indiana State Line Road, approximately 1/4 mile west of the Indiana/Illinois state line. It is 1 mile west of US Highway 41, 1 1/2 miles south of I-94, 3 miles north of the Indiana Toll Road, and 8 miles north of U.S. Highway 30. 2022 INDOT traffic counts are 8,000 cars/day.
Additional land area may accommodate added parking or fenced-in storage. A forklift is also available for sale.
The property is positioned on State Street in Calumet City, between Wentworth Avenue and Indiana State Line Road, approximately 1/4 mile west of the Indiana/Illinois state line. It is 1 mile west of US Highway 41, 1 1/2 miles south of I-94, 3 miles north of the Indiana Toll Road, and 8 miles north of U.S. Highway 30. 2022 INDOT traffic counts are 8,000 cars/day.
Additional land area may accommodate added parking or fenced-in storage. A forklift is also available for sale.
Key Highlights
- 8,160 SF flex property with 2,160 SF office and 6,000 SF warehouse
- Office area includes 3 offices, conference room, open area/reception, and bathroom
- Warehouse has 2 Reznor suspended gas heaters, slot floor drain, and 3 ceiling fans
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,925
Cap Rate
8.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,718,500
$1.7M
Cap Rate 7%
$1,227,500
$1.2M
Cap Rate 9%
$954,722
$954.7K
Market Conditions
NOI Build-Up for 8,160 SF
Gross rent
$146.9K $18.00/SF
− Vacancy
−$14.7K −$1.80/SF
EGI
$132.2K $16.20/SF
− OpEx
−$46.3K −$5.67/SF
NOI
$85.9K $10.53/SF
Area
Cook County, IL
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,718,500
Cap Rate 7%
$1,227,500
Cap Rate 9%
$954,722
Alternative Uses
Best Use
Office B
$1.61M
$1.41M – $1.88M
NOI $112,513 @ 7.0% cap · market cap 11.54%
Second Best
Flex RnD
$1.23M
$1.07M – $1.43M
NOI $85,925 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$2.82M
$2.47M – $3.29M
NOI $197,209 @ 7.0% cap · market cap 20.23%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
899
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60409, IL
36,045
Population
16,868
Households
2.1
Avg Household Size
39
Median Age
20%
College-Educated
88%
High-School Grad
7.7 sq mi
ZIP Area
4,681
Density / Sq Mi
$53,991
Median Household Income
$37,389
Median Earnings
$1,138
Median Rent
$133,600
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Combined office and warehouse improvements include loading access, suspended gas heat, and a 400 Amp electrical service.
Where is this flex space located?
The property is located at 140 State St Calumet City, IL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 8,160 SF flex property with 2,160 SF office and 6,000 SF warehouse; Office area includes 3 offices, conference room, open area/reception, and bathroom; Warehouse has 2 Reznor suspended gas heaters, slot floor drain, and 3 ceiling fans
