7605 Madison Street

Forest Park, IL 60130

$899,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Incredible opportunity! 3 storefronts + 3 apartments + garage + parking-- All in downtown Forest Park! This building is situated at a busy intersection with 10,000+ vehicle traffic per day. Tons of on-street parking and next to a municipal parking lot. 4 leases in place, 1 storefront available for an owner occupant. There are 2-2 bedroom apartments and 1-1 bedroom apartment on the 2nd floor. All tenants have separate electric and gas. Downtown zoning--perfect for restaurants, bars, retail and service...Incredible opportunity! 3 storefronts + 3 apartments + garage + parking-- All in downtown Forest Park! This building is situated at a busy intersection with 10,000+ vehicle traffic per day. Tons of on-street parking and next to a municipal parking lot. 4 leases in place, 1 storefront available for an owner occupant. There are 2-2 bedroom apartments and 1-1 bedroom apartment on the 2nd floor. All tenants have separate electric and gas. Downtown zoning--perfect for restaurants, bars, retail and service businesses. Great cash flow from day 1 with an opportunity for growth! Join the vibrant businesses within the Forest Park Main Street including major chains --Starbucks, Dominos, Duncan Donuts and local favorites like Starship, Piacere Mio, Robert's Westside, O'Sullivans, Jimmy's and more! Also, major development is planned just to the west of this location along Madison St. Long time owner has maintained the property well but property is being sold AS IS. Municipal compliance inspection complete.
  1. Listed by Laura Maychruk • Laura Maychruk Real Estate

Property Details for 7605 Madison Street

Area
Forest Park
Township
Proviso
Num of Interior Fireplaces
0
Zoning
COMMR
LISTING UPDATED: 08/30/2024 12:06 AM

Property Details for 7605 Madison Street

StatusActive
MLS #12144967
Days on Market50
Taxes$19,567 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1888
Lot Size0.18 AC / 7,625 SF
CountyCook County

Building Information for 7605 Madison Street

Stories2Residences6Year Built1888Lot Size0.18 AC / 7,625 SF

Property Information for 7605 Madison Street

General Information
Addtl Parking Information
  • Indoor Parking: 1-5 Spaces
  • Outdoor Parking: 1-5 Spaces
Location and General Information
  • Frontage Type: City Street
  • Geographic Locale: East/West Corridor
  • Information: List Broker Must Accompany
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Air Conditioning: Central Air, Office Only, Window Unit(s)
  • Electric: Circuit Breakers, Service - 201 to 600 Amps
  • Flooring: Carpet, Tile, Wood, Other
  • # Of Washers: 0
  • Heat/Ventilation: Forced Air,Gas,Hot Water
  • # Of Window/Ac: 0
  • # Of Refrigerators: 3
  • Misc Inside: Multi-Tenant,Overhead Door/s,Skylight/s,Storage Inside,Basement
  • # Of Dryers: 0
  • # Of Disposals: 0
  • # Of Dishwashers: 0
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 3
Property/Lot Information
  • Tenant Pays: Air Conditioning, Electricity, Heat, Varies by Tenant
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 50X118X58X49X19X165
  • Lot Size Square Feet: 7625.0
  • Stories: 2
  • Exterior Building Type: Vinyl Siding, Brick
  • Construction: Brick
  • Roof Type: Reflective Coating, Rubber
  • Fire Protection: Partially Sprinklered
  • Roof Structure: Flat
  • Foundation Details: Brick/Mortar, Concrete Perimeter
  • Building Area Total: 7310
  • # Of Offices: 0
  • # Of Ranges: 3
  • # Of Stores: 3
  • Property Sub Type: Apts/Stores
Property and Assessments
  • Possible Use: Commercial, Retail
  • Docks: Drive-in Doors
  • Public Document Count: 4
  • Document Date: 2024-08-24T14:19:10
  • Photos Count: 30
Miscellaneous
  • Current Use: Commercial
Virtual Tour/Additional Media
  • Virtual Tour: Image360+realtor
  • Virtual Tour YN: Yes
Multi Family
Multi-Family Information
  • Number Of Units Total: 6
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $.00
  • Gross Income: $75,270.00
  • Gross Scheduled Income: $75,270.00
  • Insurance Expense: $2,208.00
  • Expense Year: 2023
  • Total Annual Expense Source: Actual
  • Fuel Expense Source: Actual
  • Other Expense Source: Actual
  • Total Monthly Income: 5250
  • Net Operating Income: $40,844.00
  • Operating Expense: $34,426.00
  • Other Expense: $8,534.00
  • Trash Expense: $477.00
  • Water Sewer Expense: $3,640.00

Property History for 7605 Madison Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 7605 Madison Street

Taxable ValueLand$2,801Additions$31,768Total$34,569
Tax Record2022$12,390 ($1,033 / month)
Home Facts
Baths4.5Total Finished SqFt5,386 SqFtAbove Grade Finished SqFt5,386 SqFtStories2Lot Size4,310 SqFtStyleMulti-Family Res (5+ Units)Year Built1888CountyCOOKAPN15-12-429-049

Schools near 7605 Madison Street

This home is within Proviso Twp Hsd 209 School District.
Rating
School
Type
Grades
Distance
Public - PK to 2
Public - 3 to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Garfield Elementary School
PublicPK to 2

Field Stevenson Elementary School
Public3 to 5

Forest Park Middle School
Public6 to 8

Proviso East High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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7605 Madison Street is a mixed use property for sale in Forest Park, IL 60130. This property was listed for sale on August 23, 2024 by Laura Maychruk Real Estate, it's currently listed at $899,000. This listing's school districts are Proviso Twp Hsd 209 School District, Forest Park School District 91. Nearby schools include Garfield Elementary School, Field Stevenson Elementary School and Forest Park Middle School. 7605 Madison Street is a 0-bed, 0-bath, mixed use property built in 1888.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Laura Maychruk Real Estate

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 08/30/2024 12:06 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.