Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    4131 State St Chicago, IL 60609
    Property profile & analytics

    4131 State St Chicago, IL 60609

    View on Map
    • Warehouses
    • 60,000 SF
    • 1.30 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Omni Ecosystems / Landscaping / (Bike/Boat/Book/etc) Store
    • Another Chance Chicago / Charitable Organization / Social Service Agency
    • Omni Ecosystems LLC / Landscaping / General Contractor
    • Real Estate Growth Partners / Real Estate Agency
    • Hatch 41 / Coworking & Hybrid Office

    Property Details for 4131 State St

    Lot size
    1.30 lot acres
    Property size
    60,000 SF
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional 60,000 square foot industrial property, located at 4131 S State St in Chicago, Illinois, presents a significant investment opportunity. The building, classified as M1-2 zoning, boasts a versatile layout suitable for manufacturing and warehousing operations. The three-story structure sits on a 1.3-acre lot and features a 14-20 foot ceiling height, providing ample vertical space for various industrial needs. The property includes one loading dock and one dock-high door, ensuring efficient loading and unloading of goods. Completely renovated in 2019, this property is in excellent condition and ready for immediate occupancy. Its strategic location offers convenient access to major transportation arteries, including the I-90/94 expressway, and is within close proximity to the CTA Red and Green lines, as well as CTA bus service, ensuring easy employee commutes and efficient logistics. The asking price for this vacant property is $5,395,000. This is a rare opportunity to acquire a well-maintained, strategically located industrial property in a thriving Chicago market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6259
    Latitude
    41.819

    Comparable in this City

    • Value Estimation by Request
      60,000 SF

      4131 State St

      Distribution properties • 60,000 SF
      4131 State St, Chicago, IL 60609
      View Details
    • Value Estimation by Request
      20,000 SF

      124 47Th St

      Distribution properties • 20,000 SF
      124 47Th St, Chicago, IL 60609
      View Details
    • Value Estimation by Request
      32,231 SF

      3931 Leavitt St

      Refrigerated & Cold Storage • 32,231 SF
      3931 Leavitt St, Chicago, IL 60609
      View Details
    • Value Estimation by Request
      32,231 SF

      3931 Leavitt St

      Refrigerated & Cold Storage • 32,231 SF
      3931 Leavitt St, Chicago, IL 60609
      View Details
    • Value Estimation by Request

      1929 43rd St

      STORAGE YARD, OPEN STORAGE
      1929 43rd St, Chicago, IL 60609-3173
      View Details
    • Value Estimation
      $1,345,000
      18,800 SF

      1048 37th St

      STORAGE YARD, OPEN STORAGE • 18,800 SF
      1048 37th St, Chicago, IL 60609-1450
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20,055 SF

      Renovated Fleet Repair Building

      20,055 SF renovated fleet repair building in Chicago.
      4301 S Packers Ave, Chicago, IL 60609
      View Details
    • Contact for pricing
      12,000 SF

      Chicago Warehouse with Billboard Income

      NN leased United Rentals investment property with billboard income.
      4027 S Wentworth Ave, Chicago, IL 60609
      View Details
    • Contact for pricing
      92,000 SF

      Chicago Warehouse Near Transportation Hub

      92,000 SF warehouse with convenient access to transportation.
      3421 W 48Th Pl, Chicago, IL 60609
      View Details
    • Contact for pricing
      60,000 SF

      Chicago Warehouse Space For Sale

      60,000 SF warehouse space available in Chicago, Illinois.
      4131 S State St, Chicago, IL 60609
      View Details
    • $1,100,000
      9,500 SF

      Renovated Warehouse in Chicago

      Renovated 9,500 SF commercial warehouse near I-90/94.
      1253 W 47Th St, Chicago, IL 60609
      View Details
    • Contact for pricing
      10,000 SF

      Cicero Freezer Building with Office

      1.9 acres with freezer building, office, and truck docks.
      5331 W 38Th St, Cicero, IL 60609
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      33,600 SF

      Chicago Industrial Space For Lease

      33,600 SF industrial space in Stockyards Industrial Park.
      1215 West 37Th St, Chicago, IL 60609
      View Details
    • Contact for pricing
      180,900 SF

      New Construction Warehouse Space Available

      New 180,900 SF warehouse in Chicago's Stockyards Industrial Park.
      4002 South Princeton Ave, Chicago, IL 60609
      View Details
    • Contact for pricing

      New Chicago Cold Storage Facility

      99,530 SF freezer building in Chicago's historic Stockyards.
      3815 S Ashland Ave, Chicago, IL 60609
      View Details
    • Contact for pricing
      27,061 SF

      New Construction Warehouse Space Available

      27,061 SF new construction with spec offices in Chicago.
      1032 West 43Rd St, Chicago, IL 60609
      View Details
    • Contact for pricing
      3,500 SF

      Bridgeport Warehouse with Loading Docks

      Warehouse space in Bridgeport with loading docks and freight elevator.
      1415 W 37Th St, Chicago, IL 60609
      View Details
    • $5 SF/Yr

      Clock Tower Industrial Center Space

      1.3 million SF industrial, studio, and warehouse space for lease.
      1965 W Pershing Rd, Chicago, IL 60609
      View Details
    Request Owner's contact information
    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.
    4131 State St
    Chicago, IL 60609
    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
    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

    Thank You for Inquiry
    4131 State St, Chicago, IL, 60609
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!