$13,999,000
2217 W Madison Street
Chicago, IL, 60612
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. 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 #:
MRD12200392
Status:
Active
Beds:
0
Baths:
0
Address:
2217 W Madison Street
Type:
Commercial
Neighborhood:
CHI – Near West Side
City:
Chicago
Listed Date:
Oct 30, 2024
State:
IL
ZIP:
60612
Year Built:
2019
Schools
Interior
Cooling
Central Air
Exterior
Construction Materials
Brick, Concrete
Roof
Rubber
Financial
Tax Year
2022
Taxes
$192,581
Debra Dobbs is one of Chicago’s top realtors with more than 39 years in the real estate business.
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2217 W Madison Street
Chicago, IL
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