Historic Gothic Revival Live/Work Space

120 S State St 8th Floor, Chicago, IL 60603

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For Sale

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Unique live/work space in historic Gothic Revival Singer Building.

Type:Office

Property size:

2,300 SF

Price / SF:

$369/SF

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.

We can help!

Listing Contact

Zane McCartney

Learn more

For Sale

Contact for pricing

Unique live/work space in historic Gothic Revival Singer Building.

Type:Office

Property size:

2,300 SF

Price / SF:

$369/SF

Added:: Nov 15, 2024
Days on Market:: 570
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

We can help!

Listing Contact

Zane McCartney

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

Originally constructed in 1926, the Singer Building is a historic ten-story Gothic Revival structure designed by Mundie & Jensen, located on State Street. The building features terracotta decorations, piers at the corners, and sets of three double-hung windows on each story. The loft-like interior of Unit 8 showcases authentic features like 11'5" concrete ceilings, oak floors, and exposed brick and ductwork. The unit offers 2300 square feet of space and accommodates a mix of residential and office users. A private elevator key grants direct access to the floor, providing privacy and convenience. Additionally, the unit includes assigned storage on the lower level, and rental and deeded parking options are available nearby. Unit 8 offers possibilities as a distinctive live/work space, an office, or a combination of both.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

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

2,300 SF · lease $38.40/SF/yr · vacancy 25.50% · expense 25.00%

Alternative Uses

Best Use

Office B

$705.0K

$616.9K – $822.5K (±1% cap)

NOI $49,349 @ 7.0% cap · market cap 5.81%

Second Best

Mixed Use

$554.5K

$485.2K – $646.9K (±1% cap)

NOI $38,813 @ 7.0% cap · market cap 4.57%

Theoretical Best

Office A

$1.08M

$948.9K – $1.27M (±1% cap)

NOI $75,911 @ 7.0% cap · market cap 8.93%

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

Location Intelligence

Current Use by Public Records

Alternative Legal Services Law Firm Star Realty & Management ... Real Estate Agency Rhoades Levy Law ... Law Firm Mark Szaflarski Consultant Patula & Associates P.C. Law Firm

Suggested Use

Location Insight

Map
Local Demand

City: Chicago
County: Cook
State: Illinois
Longitude: -87.6280977
Latitude: 41.8801536

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For sale
Live-work space
IL
Chicago
60603
120 S State St 8th Floor

What type of property is this?

Live-work space - Unique live/work space in historic Gothic Revival Singer Building.

Where is this live-work space located?

The property is located at 120 S State St 8th Floor Chicago, IL.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: 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.