Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    140 State St Calumet City, IL 60409

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    8,160 SF warehouse with 2,160 SF office space.

    Property size:
    8,160 SF

    Property Features for 140 State St

    General Information

    Standard status
    Active
    Size
    8,160 SF

    We can help!

    Listing Contact
    David Lasser
    Source: Crexi

    Listing Agency: Commercial In-Sites LLC Listing Agent: David Lasser

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

    Learn more

    Overview

    Calumet City Warehouse with Office

    This 8,160 square foot property features a warehouse and office space. The 2,160 square foot office area includes three offices, a conference room, an open reception area, and a bathroom. The 6,000 square foot warehouse is equipped with two Reznor suspended gas heaters, a slot floor drain, and three ceiling fans. Transom windows are present. The property includes one 10'x14' drive-in door and one dock with a 10'x14' overhead door with a canopy leveler and sump pump. Electrical service is 400 amp, 120/240. A forklift is available for sale. The property has adequate land area to add parking or fenced storage. Located in Calumet City on State Street between Wentworth Avenue and Indiana State Line Road, the property is situated approximately 1/4 mile west of the Indiana/Illinois state line, 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. Nearby businesses and landmarks include ALTA Material Handling, Hasse Construction, Linz Meats, Calumet City Public Safety Training Center, Strack and Van Til, and Wendy's. The 2022 INDOT traffic count was 8,000 cars per day. The 2023 taxes were $10,959.75 ($1.34/SF).
    Location Intelligence

    Current Use by Public Records

    Advance Products Inc Industrial Manufacturer

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Calumet City
    County
    Cook
    State
    Illinois
    Longitude
    -87.5278634
    Latitude
    41.6230289

    Nearby Similar for Sale

    • New
      $194,500
      0.10 Acres

      Renovated Mixed-Use Investment Opportunity

      Fully renovated mixed-use property with commercial space and rental income.
      1475 Sibley Blvd, Calumet City, IL 60409
      View Details
    • $300,000

      Calumet City Two-Unit Building

      Meticulously maintained two-unit building with potential for a third unit.
      341 Crandon Ave, Calumet City, IL 60409
      View Details
    • $302,500

      Calumet City Multifamily Investment Property

      Solid brick multifamily property with income potential in Calumet City.
      1600 Memorial Dr, Calumet City, IL 60409
      View Details
    • $255,000

      Calumet City Income Property

      Four-unit building with rental potential on a double lot.
      207 155Th St, Calumet City, IL 60409
      View Details
    • $344,999
      Pending

      Calumet City Townhouse Investment Package

      Four townhouses in Calumet City, generating cash flow.
      1420-1424 Wentworth Ave, Calumet City, IL 60409
      View Details
    • New
      $197,000

      Updated Calumet City Two-Flat

      Turnkey two-flat with recent upgrades, ideal for investors.
      566 Ingraham Ave, Calumet City, IL 60409
      View Details
    • $402,500
      0.16 Acres

      Calumet City Multifamily Investment Opportunity

      Six-unit building with recent updates and income potential in Calumet City.
      649 Jeffery Ave, Calumet City, IL 60409
      View Details
    • $234,900

      Calumet City Two-Unit Building

      Two-unit building with updated finishes, ideal for owner-occupant or investor.
      1677 Patricia Pl, Calumet City, IL 60409
      View Details
    • New
      $38,000
      0.39 Acres

      Calumet City Multifamily Investment Opportunity

      Two-unit property with coach house, sold as-is for renovation.
      305 River Oaks Dr, Calumet City, IL 60409
      View Details
    • $2,850,000
      12,614 SF

      Renovated Truck Transfer/Parking Facility

      Newly renovated truck transfer/parking facility with I-94 access.
      2000 Dolton Rd, Calumet City, IL 60409
      View Details
    • $1,310,000

      Dollar General Redevelopment Opportunity

      Dollar General NNN investment in Calumet City, Illinois.
      626 River Oaks Dr, Calumet City, IL 60409
      View Details
    • $260,000

      Calumet City Multifamily Building

      Multifamily building with updated systems and detached garage.
      392 Luella Ave, Calumet City, IL 60409
      View Details

    FAQs

    What type of property is this?
    Warehouse - 8,160 SF warehouse with 2,160 SF office space.
    Where is this warehouse located?
    The property is located at 140 State St Calumet City, IL.
    What are key features of this property?
    This property features: - 8,160 SF warehouse with 2,160 SF office space featuring 3 offices, conference room, and reception area.; - Convenient location with easy access to major highways (I-94, US Highway 41, Indiana Toll Road) and proximity to the Indiana/Illinois state line.; - Functional warehouse features include 1 drive-in door (10'x14'), 1 dock with 10'x14' OHD with canopy leveler, slot floor drain, and 2 Reznor suspended gas heaters.
    Request Owner's contact information
    140 State St Calumet City, IL 60409
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    140 State St
    Calumet City, IL 60409
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    140 State St Calumet City, IL 60409
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    David Lasser
    Real Estate License ID: IN RB14026085
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!