13,531 SF Single-Tenant Commercial Property on State St
The Details
- 13,531 SF single-tenant commercial property
- In-place income
- Annual rent is $37,452 plus real estate taxes
- Corner location with substantial frontage on State and 16th Streets
- Great opportunity for a user or developer
- Attractions in the area include
- Jewel- Osco, Whole Foods, Mariano’s, Target, Trader Joe’s, Dunkin’, Firestone and several restaurants
- Easy accessibility to CTA train lines and all major expressways
- Traffic Count: 17,353 vehicles daily
- Zoning: M1-1
- Land area: 15,256 SF
PRICE REDUCED
Subject property 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 I90/94/290/55.
The South Loop neighborhood of Chicago is great location for residential due to its proximity to the lake and downtown and easy access to public transportation. The neighborhood is a mix of historic buildings and newer developments, attracting a wide variety of bars, restaurants and boutiques.
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