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1165 N State St
Chicago, IL 60610 Gold Coast

$15,750,000 USD

Storefront Retail Office For Sale  •  19,278 SF

Property Details

• Property Type Storefront Retail Office
• Total Building Size 19,061 SF
• Lot Size 0.18 AC
• Building Class C
• Year Built 1991
• Tenancy Multiple
• Zoning DX-7

90 Transit Score

100 Walk Score

Highlights

Generational Asset Anchored By High-Performing Bank of America Branch Located at Signalized Intersection of State and Division on Chicago’s Gold Coast

Bank of America Has Operated Here for Over Two Decades and Recently Exercised a Renewal Option at the Option Rent Agreed to in Their Original Lease

Bank of America (Moody’s Credit Rating of “AA-”) Guarantees 45 Percent of the Property’s Total Income

High Foot Traffic Location With a 99/100 Walk Score, Two Blocks From the Clark/ Division Street ‘L’ Station

Weighted Average Lease Term of 9 Years With Three of the Four Leases Featuring Significant Annual Rent Steps

In 2023 Sola Salons Executed a 15-Year Lease for the Desirable Second Floor Space With 3 Percent Annual Increases

Amenities

• Corner Lot
• Signage
• Signalized Intersection

Public Transportation

Commuter Rail	Drive	Walk	Distance
Chicago Ogilvie Transportation Center (Union Pacific North Line - Northeast Illinois Regional Commuter Railroad (Metra), Union Pacific Northwest Line - Northeast Illinois Regional Commuter Railroad (Metra), Union Pacific West Line - Northeast Illinois Regional Commuter Railroad (Metra))	9 min	-	2.1 mi
Chicago Union Station (Burlington Northern-Santa Fe Railway Line - Northeast Illinois Regional Commuter Railroad (Metra), Heritage Corridor Line - Northeast Illinois Regional Commuter Railroad (Metra), Milwaukee District North Line - Northeast Illinois Regional Commuter Railroad (Metra), Milwaukee District West Line - Northeast Illinois Regional Commuter Railroad (Metra), North Central Service - Northeast Illinois Regional Commuter Railroad (Metra), SouthWest Service - Northeast Illinois Regional Commuter Railroad (Metra))	10 min	-	3.8 mi
Transit/Subway	Drive	Walk	Distance
Clark/Division Station (Red Line - Chicago Transit Authority "L" Trains (The "L"))	1 min	3 min	0.2 mi
Chicago Avenue Station (Red Line) (Red Line - Chicago Transit Authority "L" Trains (The "L"))	2 min	9 min	0.5 mi
Grand Avenue Station (Red Line) (Red Line - Chicago Transit Authority "L" Trains (The "L"))	5 min	16 min	0.8 mi
Chicago Avenue Station (Brown, Purple Lines) (Brown Line - Chicago Transit Authority "L" Trains (The "L"), Purple Line - Chicago Transit Authority "L" Trains (The "L"))	4 min	17 min	0.9 mi
Sedgwick Station (Brown Line - Chicago Transit Authority "L" Trains (The "L"), Purple Line - Chicago Transit Authority "L" Trains (The "L"))	5 min	19 min	1.0 mi
Airport	Drive	Walk	Distance
Chicago Midway International	24 min	-	13.5 mi
Chicago O'Hare International	26 min	-	18.1 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Type:	Covered
Included in Rent:	Yes