Active

2217 W Madison Street

Chicago IL, 60612

$13,999,000


Active

Commercial

Built in 2019

Courtesy of North Clybourn Group, Inc.

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.

12081281

MLS ID

June 11, 2024

Listed

July 13, 2024

Updated

Map

2217 W Madison Street
Chicago IL, 60612

Interior Features

Total Stories

4


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

No

Exterior/Building Features

Lot Size

0.49 Acres


Roof

Rubber

Other Property Details

Area Name

CHI - Near West Side


Taxes

$192,581


Tax Frequency

Annually


Days on Market

7


Garage

No


View

No


County

Cook


Pool

No


Zoning

MULTI


Buyer Agency Compensation

1%

Courtesy of North Clybourn Group, Inc., Karen Biazar,
Listing Contact: 773-252-0600 

The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than The Gillman Group are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

Based on information submitted to the  MLS GRID for MRED 7/13/2024. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.

©2024 Listings Courtesy of MRED as distributed by MLS GRID. All rights reserved.

Data last updated 7:05 PM UTC, 7/13/2024

 

 

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