$1,999,000
2628 S State Street
Chicago, IL, 60616
We are thrilled to present an exceptional investment opportunity in Chicago’s dynamic Douglas neighborhood, just one block south of the South Loop. This expansive 21,300 sq. ft. corner lot with 163′ of frontage on historic State Street is ideally positioned minutes from McCormick Place, Illinois Institute of Technology, and downtown Chicago. With immediate access to I-55, I-94, and Lake Shore Drive, this prime location offers unparalleled potential for development. Although Douglas has seen limited residential expansion, this site presents a rare chance to introduce luxury yet attainable housing in a high-demand market. Imagine 60 upscale apartments renting at $2,000 per month, generating an impressive $120,000 in monthly revenue. With an average cap rate of 7.68% in the 60616 zip code, this translates to a potential valuation of $18,750,000. Zoned C2-3, the property allows for a wide range of commercial uses, including retail, auto-related businesses, liquor stores, and warehouses, while also offering potential for rezoning to accommodate a high-density residential project. State Street has long been a cornerstone of Chicago’s history, and this site offers investors the chance to be part of its next evolution. With the South Loop’s continued expansion and the demand for high-end residential units on the rise, this property is a rare gem in one of the city’s most exciting and rapidly transforming neighborhoods. Don’t miss this incredible opportunity-contact us today to learn more!
Property Details
Price:
$1,999,000
MLS #:
MRD12306369
Status:
Active Under Contract
Beds:
0
Baths:
0
Type:
Land
Neighborhood:
chidouglas
Listed Date:
Mar 7, 2025
Schools
School District:
219
Interior
Exterior
Financial
Tax Year
2023
Taxes
$18,919
Debra Dobbs is one of Chicago’s top realtors with more than 41 years in the real estate business.
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Map
Community
- Address2628 S State Street Chicago IL
- CityChicago
- CountyCook
- Zip Code60616
Subdivisions in Chicago
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- 212 East
- 30 E Huron
- 5000 East End Building
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- Arcadia Terrace
- Archer Lofts
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- Back of the Yards
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- Bartletts
- Beach Point Tower
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- Belmont Central
- Belmont Heights
- Belvedere
- Beverly Hills
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- Beverly Woods
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- Big Oaks
- Birchtree Manor
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- Block Y
- Bloomingdales
- Bodine Building
- Bookbinders Row
- Bowmanville
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- Brighton of Lincoln Park
- Bronzeville
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- Bryn Mawr Place
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- Bucktown
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- Camden Court
- Campus Hyde Park
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- Caravel
- Catalpa Gardens
- Catalpa Terrace
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- Chandler
- Chatham Club
- Chatham Park Place
- Chess Lofts
- Chicago Place
- Citiview Condos
- City Club
- City Towne Lofts
- Clinton Complex
- Clinton Street Lofts
- Coles
- Columbus on the Park
- Commonwealth
- Commonwealth Plaza
- Concord at City Center
- Constellation
- Cornelia by the Lake
- Cornelia Court
- Cornell Square
- Cornell Village
- Cottage Grove Heights
- Cullerton Station
- Cumberland Crossing
- Dakota Lofts
- Darien Condominium
- Dearborn Park
- Dearborn Park II
- Dearborn Tower
- Dearborn Village
- Delaware Place
- Depaul
- Dickenson House
- Domain Lofts
- Drake Tower
- Dunham Park
- Eaglebrook
- East Pilsen
- East Point Condominiums
- East Ridge Point Condos
- East Village
- Edgebrook
- Edgemoor Park Condos
- Edgewater Beach
- Edgewater Beach Apts
- Edgewater Plaza
- Edison Park Place
- Egandale Townhomes
- El Lago
- Eldson
- Elm at Clark Condos
- Elysees
- Embassy Club
- Emerson Point
- Erie on the Park
- Estes Manor Homes
- Fair Elms
- Fairbanks at Cityfront
- Faulkner House
- Fernwood
- Filmworks Lofts
- Folio Square
- Fordham
- Forest Glen
- Forest Villa
- Franklin Lofts
- Fremont Place Rowhouses
- Fulton Court
- Fulton House
- Fulton Place
- Fulton Station
- Galewood
- Gallery 400
- Gladstone Park
- Glencar Estates
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- Graceland West
- Grand Ohio
- Grand Orleans
- Grand Plaza
- Granville Beach
- Granville Terrace
- Green Street Lofts
- Gresham
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- Hamlin Park
- Hampden Green
- Hampton House
- Hanover House
- Harbor Point
- Harbor Pointe
- Harbor View
- Harper Place
- Hartland Park
- Hawthorne Place
- Heartbreak Lofts
- Heather Oaks
- Hemingway House
- Heritage at Millennium Park
- Hermitage
- Hollywood Towers
- Homan Square
- Humboltd Condos
- Imperial Towers
- Independence Park
- Indian Village
- Indian Woods
- Ingleside Comdominiums
- Irving Park Manor
- Jackson Park Highlands
- Jackson Tower
- James House
- Jazz on the Boulevard
- Jefferson Tower
- Jeffery Manor
- Joffrey Tower
- Karmatage
- Kelvyn Park
- Kilmer House
- Kinetic Lofts
- Kingsbury on the Park
- Kinzie Park
- Kinzie Park Midrise
- Kinzie Park Tower
- Kinzie Station
- Lake Meadows
- Lake Park Plaza
- Lake Point Tower
- Lake Shore Place
- Lake Terrace Condominiums
- Lakeside on the Park
- Lakeview Station
- Lakewood Balmoral
- Lancaster
- Landmark Village
- LaSalle Private Residences
- Lawndale
- Library Tower
- Lincoln Commons
- Lincoln Park Towers
- Little Village
- Lofts on West Hubbard
- Logan Square
- Lowell House
- Lunt Court Condominiums
- Malibu
- Malibu East
- Manors of Leland
- Marina City
- Marina Towers
- Marquee
- Marquette Park
- Marshfield Lofts
- Marynook
- Mayfair
- Mckinley Gardens
- Metropolis
- Metropolis Condominiums
- Metropolitan Place
- Michigan Avenue Towers
- Midway View
- Mies Van Der Rohe
- Monroe Manor
- Montclaire Gardens
- Montgomery
- Moser Lofts
- Museum Park
- Museum Park Lofts
- Museum Park Place
- Museum Park Tower
- Museum Park Tower III
- Museum Park Tower Iv
- New Eastside
- New York Condominiums
- Newberry Plaza
- Newport Condominiums
- North Beach Lofts
- North Damen Square Condos
- North Mayfair
- North Park Village
- Northwest Point
- Northwest Terrace
- Number 10 Lofts
- Oak Club Condos
- Oakfield West
- Odyssey Lofts
- Old Irving
- Old Town
- Old Town Square
- Old Town Village East
- Olympia Centre
- Olympia Lofts
- One Magnificent Mile
- One Museum Park West
- One River Place
- Ontario Place
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- Ontario Street Lofts
- Opera Lofts
- Orchard Park
- Palmolive Building Landmark
- Paper Place Lofts
- Paramount Lofts
- Parc Chestnut
- Park 1500 Lofts
- Park Alexandria
- Park Astor
- Park Edgewater
- Park Harbor
- Park Manor
- Park Millennium Condos
- Park Newberry
- Park Place
- Park Place Tower
- Park Tower
- Park View East
- Park West Condos
- Parkshore
- Parkshore Cooperative
- Parkview Condominiums
- Pearson on the Park
- Penthouse Lofts
- Pill Hill Valley
- Pilsen
- Plaza 32
- Plaza 440 Private Residences
- Plaza on DeWitt
- Point East Condominiums
- Pope Building Lofts
- Portage Park Condos
- Prairie Avenue Lofts
- Prairie District Homes
- Prairie House
- Prairie Pointe
- Printers Row
- Printers Row Lofts
- Printers Square
- Promenade
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- Quadrangle Condos
- Randolph Place
- Ravenswood
- Regal Lofts
- Regatta
- Renaissance
- Renaissance Place
- Residences at River East
- Residences at Riverbend
- Ridgemoor Estates
- Ridgewood Flats
- Ritchie Tower
- River East
- River North
- River North Commons
- River Place on the Park
- River Plaza
- River Village
- River West Village Lofts
- Riverbend Condominiums
- Rivers Edge
- Riverview East
- Riverview West
- Rogers Park
- Roosevelt Square
- Roscoe Village
- Roscoe Village/Lakeview
- Rosemont Place
- Rosemoor
- Royalton
- Royalton Towers
- Sandburg Village
- Sauganash
- Sauganash Park
- Sauganash Village
- Schorsch Forestview
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- Scottsdale
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- Shakespeare Court
- Sheffields
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- Sheridan Shore Courts
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- Sierra Lofts
- Silver Tower
- Singer Lofts
- Skybridge
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- South Commons
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- Southport Corridor
- Southshore
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- St Johns Park
- St Paul Condos
- Stanford Courts
- State Place Tower
- State Tower
- Statesman
- Sterling
- Stratford Place
- Stratford South Commons
- Streeterville
- Superior 110
- Sutton Place
- The 3500 Club
- The Barry
- The Brewster
- The Bristol
- The Chandler
- The Columbian
- The Coronado
- The Edge
- The Estes North Shore
- The Flats on Monroe
- The George on Washington
- The Grant
- The Legacy at Millennium Park
- The Madison
- The Marquee
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- The New York
- The Pinnacle
- The Pointe
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- The Sexton
- The Terraces
- The Tower Residences at Prairie District Homes
- The Towers
- The Transportation Building
- The Verde
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- Three Sixty West
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- Union Park Lofts
- Union Square Lofts
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- University Park Condos
- University Station
- University Village
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- Vinery Lofts
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- Vista Homes
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- Winhood
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Property Summary
- 2628 S State Street Chicago IL is a Land for sale in Chicago, IL, 60616. It is listed for $1,999,000 and features 0 acres. To schedule a showing of MLS#mrd12306369 at 2628 S State Street in Chicago, IL, contact your Compass / The Debra Dobbs Group agent at 3123074909.
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2628 S State Street
Chicago, IL
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