2217 W Madison Street
Chicago, IL, 60612
$13,999,000
Beds
0 Baths
0 SqFt
0 Acres
Add
Add
$13,999,000
2217 W Madison Street
Chicago, IL, 60612
 img 0 img 1 img 2 img 3 img 4 img 5 img 6 img 7 img 8 img 9 img 10 img 11 img 12 img 13 img 14 img 15
46-unit multifamily asset in the rapidly developing neighborhood of United Center/Near West Side. Professionally managed and Fully staibilized this property has approximately 40,500 RSF, containing a mixture of two-bedroom/two bath and one-bedroom/ one bath apartments, with two elevator bays, 1:1 attached garage parking and common rooftop deck. Gross Monthly Income of $99,799 priced at 6.2% Cap Rate. Pro Forma at 7.1% Cap Rate. Completed in 2020 to an elevated standard all units are inclusive of stainless-steel appliances, quartz countertops, all new plumbing and electrical systems, in-unit laundry, custom outfitted closets, window treatments and more. With the United Center and Medical District just blocks away and the new Green Line stop at Damen and Lake opening late summer 2024, the Near West Side is a highly trafficked area that includes easy access to grocery stores, bars, restaurants, hotels, and various other entertainment options with much upside on the horizon. In addition to the new Green Line Station and being on a major bus route, the subject property offers tenants excellent transportation options via the Dan Ryan, Eisenhower & Blue Line stations.

Property Details

Price:
$13,999,000
MLS #:
MRD12081281
Status:
Active
Beds:
0
Baths:
0
Address:
2217 W Madison Street
Type:
Commercial
City:
Chicago
Listed Date:
Jun 11, 2024
State:
IL
ZIP:
60612
Year Built:
2019

Schools

Interior

Cooling
Central Air

Exterior

Construction Materials
Brick, Concrete
Roof
Rubber

Financial

Buyer Agent Compensation
1%Net Sale Price
Net Operating Income
$862,411
Tax Year
2022
Taxes
$192,581
Need more info?
Ask a Question
Ready to go see it?
Schedule a Showing

Debra Dobbs is one of Chicago’s top realtors with more than 39 years in the real estate business.

More About Debra

Mortgage Calculator

 

Map

Similar Listings Nearby

2217 W Madison Street
Chicago, IL