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609 S State St - South Loop 0.64 Acre of Commercial Land Offered at $12,401,820 - $12,401,820 CAD Per Lot in Chicago, IL 60605
Investment Highlights
- Full or half-site purchase options available for flexible development strategies.
- Permits up to 486 units on the full site or 243 units per half site.
- Close proximity to Grant Park, Museum Campus, Soldier Field, and the Chicago River.
- DX-12 zoning supports mixed-use projects with commercial and residential components.
- Located between the Loop and South Loop, near major cultural and educational institutions.
- Strong connectivity with CTA, Metra, and major highways including I-90 and I-55.
Executive Summary
609 S. State Street offers a rare development opportunity in the heart of Chicago’s Loop and South Loop neighborhoods. This 1.28-acre site is available for purchase as a full parcel or divided into two separate sites, providing flexibility for developers and investors. The property is zoned DX-12, a Downtown Mixed-Use District designation that supports vertical mixed-use development with commercial space on the ground floor and residential or other uses above grade.
The site’s zoning allows for a maximum base FAR of 12.0 and permits up to 486 residential units on the full site or 243 units per half site. Located within a vibrant urban environment, the property benefits from proximity to cultural attractions, major universities, and extensive transportation options, including CTA and Metra access. Positioned near Grant Park, Museum Campus, and the Chicago River, this location offers strong appeal for residential, mixed-use, or student housing development.
With annual parking income of approximately $318,000 and a price of $9,000,000 per site, this property represents a compelling investment opportunity in one of Chicago’s most dynamic districts.
The site’s zoning allows for a maximum base FAR of 12.0 and permits up to 486 residential units on the full site or 243 units per half site. Located within a vibrant urban environment, the property benefits from proximity to cultural attractions, major universities, and extensive transportation options, including CTA and Metra access. Positioned near Grant Park, Museum Campus, and the Chicago River, this location offers strong appeal for residential, mixed-use, or student housing development.
With annual parking income of approximately $318,000 and a price of $9,000,000 per site, this property represents a compelling investment opportunity in one of Chicago’s most dynamic districts.
Property Facts
| Price | $12,401,820 - $24,803,640 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 2 | Total Lot Size | 1.28 AC |
| Property Type | Land | ||
| Zoning | DX-12 - Downtown Mixed-Use District | ||
| Price | $12,401,820 - $24,803,640 CAD |
| Sale Type | Investment |
| No. Lots | 2 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 1.28 AC |
| Zoning | DX-12 - Downtown Mixed-Use District |
2 Lots Available
Lot 609
| Price | $12,401,820 CAD | Lot Size | 0.64 AC |
| Price Per AC | $19,377,843.66 CAD |
| Price | $12,401,820 CAD |
| Price Per AC | $19,377,843.66 CAD |
| Lot Size | 0.64 AC |
Lot 114
| Price | $12,401,820 CAD | Lot Size | 0.64 AC |
| Price Per AC | $19,377,843.66 CAD |
| Price | $12,401,820 CAD |
| Price Per AC | $19,377,843.66 CAD |
| Lot Size | 0.64 AC |
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Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $23,670 CAD | |
| Land Assessment | $3,618,207 CAD | Total Assessment | $3,641,877 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$3,618,207 CAD
Improvements Assessment
$23,670 CAD
Total Assessment
$3,641,877 CAD
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609 S State St - South Loop
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