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1401 State St Chicago, IL 60605

OFF-MARKET Retail properties & Spaces Google Maps
184,241 SF Built 2004
Estimated value
No estimation on file for this property yet.
Property ID

Property summary

AI-generated overview

This exceptional 184,241-square-foot single-tenant space, located at 1401 S State St in Chicago's vibrant South Loop neighborhood (zip code 60605, Cook County, IL), is ready for occupancy in Spring 2024. Built in 2004, this ground-floor property offers a versatile layout ideal for various uses, including medical, dental, general office, or retail. The space boasts 10 private offices, a welcoming reception area, a convenient conference room, and a fully equipped kitchenette. High ceilings (14 feet) are complemented by existing ceiling tile and grid, along with a fully distributed electrical and HVAC system. Two ADA-compliant bathrooms ensure accessibility. Benefit from high visibility with over 50 feet of frontage on State Street, attracting significant foot traffic. This exceptional location is situated at the base of a 22-story luxury apartment building with 278 units, providing a built-in customer base. The property is a second-generation space, offering immediate occupancy for a new tenant. This is a rare opportunity to secure a substantial and well-appointed space in a thriving Chicago location.

Property profile

Verified
Property type Retail properties & Spaces
Year built 2004
Total area 184,241 SF

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Insurance Agency
  • Real Estate Agency
  • Moving Company
  • Financial Advisor
  • Insurance Agency

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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