1640 S State St
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1640 S State St
13,531 SF Industrial Building Chicago, IL 60616 $2,650,000 ($196/SF)
Executive Summary
is a 13,531 square foot commercial property located at the corner of 16th and State Streets in the South Loop neighborhood. This single-tenant , single-story industrial property is leased to Fleet Distributors, Inc. The tenant is currently on a month-to-month lease and has occupied the building since January 2001. There is the potential to develop this site with the parcel located at 1639-1701 South State Street. Positioned amidst a dense commercial area within the heart of downtown Chicago, this property is in close proximity to The Loop, Michigan Avenue shops and restaurants, Jewel-Osco, Whole Foods, Target and Trader Joe’s. Landmarks such as Grant Park, Soldier Field, The Art Institute of Chicago, several schools and museums are nearby. Easy accessibility to CTA Red, Orange and Green lines and expressways I-90/94/290/55.
Property Facts
| Price | $2,650,000 | Lot Size | 0.35 AC |
| Price Per SF | $196 | Rentable Building Area | 13,531 SF |
| Sale Type | Investment | No. Stories | 1 |
| Sale Conditions | Redevelopment Project | Year Built | 1955 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Warehouse | Parking Ratio | 0.44/1,000 SF |
| Building Class | C |
| Price | $2,650,000 |
| Price Per SF | $196 |
| Sale Type | Investment |
| Sale Conditions | Redevelopment Project |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.35 AC |
| Rentable Building Area | 13,531 SF |
| No. Stories | 1 |
| Year Built | 1955 |
| Tenancy | Single |
| Parking Ratio | 0.44/1,000 SF |
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Walk Score ®
Walker's Paradise (93)
Transit Score ®
Excellent Transit (83)
Bike Score ®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $199,956 | |
| Land Assessment | $283,125 | Total Assessment | $483,081 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$283,125
Improvements Assessment
$199,956
Total Assessment
$483,081
zoning
| Zoning Code | M1-1 |
| M1-1 |
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Daniel Hyman -
Susan Silver -
Millennium Properties R/E, Inc.
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1640 S State St
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