120 State StChicago, IL 60603

Property Details for 120 State St

Year built

1924

Lot size

0.07 AC

Property type

Office properties

APN

17-16-213-022-1001

APU

17162130221001

Description

This exceptional 2,300 square foot executive office suite, located on the 8th floor of a prestigious 1924 building at 120 S State St in Chicago's vibrant Loop, presents a unique investment opportunity. The unit boasts direct elevator access, hardwood floors, and impressive soaring ceilings. Large front corner windows offer panoramic views of State Street and the iconic Palmer House. Currently configured as a three-operatory dental office with a one-bedroom, one-bathroom residential suite, this versatile space offers significant potential for various uses. The building's mixed-use classification (residential and office) results in a nearly 50% reduction in the property tax burden, making this a highly advantageous investment. The sale includes existing dental equipment currently leased to a tenant. The property's prime location provides unparalleled convenience, with immediate access to CTA buses, the Red Line, and all Loop 'L' train stops. This is a chance to own a piece of Chicago's rich architectural history. The asking price is $998,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,044,457

  6.5%

  $964,114

  7%

  $895,249

• Comparable approach

  Method

  Valuation

  Relative Method

  $423,312

  Geo Method

  $423,312

• Alternative Use

  Use

  Valuation

  Residential

  $1,195,502

  Hospitality

  $1,095,073

  Educational

  $911,088

  Medical

  $942,422

  Retail

  $1,417,248

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.8802

Longitude

-87.6282

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].