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    1639 State St Chicago, IL 60616

    Sponsored
    For Sale
    $2,250,000
    Property size:
    13,531 SF
    Added:
    Dec 11, 2024
    Days on Market:
    395

    Property Features for 1639 State St

    General Information

    Property type
    Land
    Square Feet
    13,531 SF

    Building Details

    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Single‑tenant net‑leased property, occupied by State Street Hand Car Wash until June 2023.
    • 14' clear ceiling height.
    • High visibility with substantial State Street frontage.
    • Annual net rent: $67,032 plus operating expenses.
    • Ideal for owner‑occupants or redevelopment.
    • Excellent location near Jewel‑Osco, Whole Foods, Mariano's, Target, Trader Joe's, and other major retailers.
    Property Profile Location Intelligence

    Current Use by Public Records

    1639 S State ... Parking Lot

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.626856
    Latitude
    41.8588799

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    FAQs

    Where is this land located?
    The property is located at 1639 State St Chicago, IL.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: Single-tenant net-leased property, occupied by State Street Hand Car Wash until June 2023.; 14' clear ceiling height.; High visibility with substantial State Street frontage.
    Request Owner's contact information
    1639 State St Chicago, IL 60616
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    Chicago, IL 60616
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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
    1639 State St Chicago, IL 60616
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