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
June 17, 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
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Based on information submitted to the MLS GRID for MRED 6/17/2024. 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.
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Data last updated 7:09 AM UTC, 6/17/2024
