2217 W Madison Street
Chicago, IL, 60612
$13,999,000
Beds
0 Baths
0 SqFt
0 Acres
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$13,999,000
2217 W Madison Street
Chicago, IL, 60612
MLS #MRD12200392 img 0MLS #MRD12200392 img 1MLS #MRD12200392 img 2MLS #MRD12200392 img 3MLS #MRD12200392 img 4MLS #MRD12200392 img 5MLS #MRD12200392 img 6MLS #MRD12200392 img 7MLS #MRD12200392 img 8MLS #MRD12200392 img 9MLS #MRD12200392 img 10MLS #MRD12200392 img 11MLS #MRD12200392 img 12MLS #MRD12200392 img 13MLS #MRD12200392 img 14MLS #MRD12200392 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. 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

Net Operating Income
$862,411
Tax Year
2022
Taxes
$192,581
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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