5010 S State ST Chicago, IL 60609

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Park Place Realty Group LLC

info@parkplacerealtyllc.com +1(708) 722-5106

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Key Details

Property Type Commercial

Sub Type Retail/Stores

Listing Status Active

Purchase Type For Rent

MLS Listing ID 12476044

Year Built 1969

Annual Tax Amount $20,700

Tax Year 2023

Property Sub-Type Retail/Stores

Property Description

Presenting a prime commercial leasing opportunity in Chicago's Bronzeville neighborhood: 5010-5020 S. State Street is a freestanding building encompassing approximately 17,749 square feet (ground floor plus mezzanine) of flexible space. The property's B3-2 zoning (Community Shopping District) allows a wide range of uses, from retail storefronts and offices to warehouse/distribution, showrooms, auto services and even mixed-use residential or creative commercial projects. Originally built as a supermarket, the structure features an expansive open floor plan with four separate entrances/exits, soaring 16-19 ft. clear ceiling heights, brand-new ADA-compliant restrooms, and an existing mezzanine already plumbed for additional facilities. These modern upgrades and design elements provide a turn-key canvas ready to accommodate a national credit tenant's flagship retail concept, corporate office, or multi-purpose commercial vision. Exceptional site infrastructure and access: The building sits on a large 1+ acre parcel, including parking for 60 vehicles on-site. Such abundant dedicated parking and loading area make it ideal for high-volume retail or warehousing uses. Connectivity is another highlight: the location is just a few blocks from the Dan Ryan Expressway (I-90/94), offering easy regional access for commuters and logistics. Multiple CTA train stations (Red Line and Green Line) are within walking distance, seamlessly linking the site to Chicago's transit network and workforce. Additionally, State Street itself is a high-visibility commercial corridor, carrying an estimated 21,000 vehicles per day past this property. The address lies in Chicago's Ward 03 (Alderman Pat Dowell), an area currently benefiting from robust City investment initiatives. Tenants here can potentially leverage economic development incentives such as Tax Increment Financing (TIF) district resources or Small Business Improvement Fund (SBIF) grants to support build-out and improvements, and the Bronzeville neighborhood is part of the City's INVEST South/West revitalization corridor. This location stands at the heart of a transforming Bronzeville. Just a few blocks north, the multi-phase Legends South project is redeveloping the former 140-acre Robert Taylor Homes site into one of Chicago's largest mixed-income communities, with 2,400 new homes planned and new retail amenities now under construction for the first time in over a decade. Further catalyzing the neighborhood's resurgence is the massive Bronzeville Lakefront development underway a short drive to the north. This $3.8 billion mega-project will deliver up to 7 million square feet of new offices, research facilities, retail and residences - and is projected to create 20,000 new permanent and temporary jobs upon completion. The influx of new residents, workforce and visitors from these developments is set to dramatically increase local spending power and foot traffic, positioning 5010-5020 S. State Street as a strategic location to serve Bronzeville's renaissance and booming economic activity.

Location

State IL

County Cook

Area Chi - Grand Boulevard

Zoning COMMR

Interior

Cooling None

Fireplace N

Building

Dwelling Type Retail/Stores

Structure Type Brick,Block,Steel Siding

Listed by Moses Hall of MoHall Commercial & Urban Development

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Park Place Realty Group LLC

Broker | License ID: 888222

+1(708) 722-5106