Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1702 Madison Street Maywood, IL 60153

    View on Map
    Picture of Storefront properties at 1702 Madison Street, Maywood, IL
    For Lease
    Contact for pricing

    COMMERCIAL - Maywood, IL

    Type:Retail
    Added:
    Jun 11, 2025
    Days on Market:
    295
    Last Refresh:
    Apr 1 at 12:06 pm

    Property Features for 1702 Madison Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Standard status
    Active

    Taxes and HOA fees

    TaxYear
    2023

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    2004
    Floors in Building
    1

    We can help!

    Listing Contact
    Andres Olaez

    Listing agent Andres Olaez License #475180182

    Listing office Keller Williams ONEChicago 2211 N Elston Ave STE 400, Chicago, IL

    Listing date Jun 11, 2025

    MLS# 12391170

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Prime Storefront in Maywood, IL

    This commercial property in Maywood, Illinois, offers an 816-square-foot storefront suitable for retail use. The property is located in a high-traffic area and is noted to be in impeccable condition, presenting incredible growth potential for businesses. The property is located in Cook County, Illinois.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Maywood
    County
    Cook
    State
    Illinois
    Longitude
    -87.8541038
    Latitude
    41.8783241

    Nearby Similar for Lease

    • Contact for pricing

      Maywood Storefront Ready For Rent

      2,304 SF storefront in high-traffic area, growth potential.
      1700 Madison Street, Maywood, IL 60153
      View Details
    • Contact for pricing

      Retail Storefront Space on 5th

      Retail/Office space in Maywood with parking.
      905 S 5TH Avenue unit: B, Maywood, IL 60153
      View Details
    • Contact for pricing

      Maywood Retail Space For Rent

      Retail space available on 5th Avenue in Maywood, Illinois.
      701-713 S 5th Ave, Maywood, IL
      View Details
    • Contact for pricing

      Prime Retail Space Available

      High-visibility retail space in a well-established shopping center.
      900-1000 Broadview Village Sq, Maywood, IL
      View Details
    • Contact for pricing

      Maywood Retail/Office Space Available

      Prime location retail/office space for lease in Maywood.
      1001-1009 S 17th Ave, Maywood, IL
      View Details
    • Contact for pricing

      Maywood Commercial Space For Lease

      Commercial space available for lease in Maywood, Illinois.
      1001-31 S 17th Ave, Maywood, IL 60153
      View Details
    • Contact for pricing

      Office Building Near Eisenhower Expressway

      Office building for lease with high visibility and convenient access.
      1701 S 1st Ave, Maywood, IL 60153
      View Details

    FAQs

    What type of property is this?
    Storefront property - 816 SF storefront in high-traffic area with growth potential.
    Where is this storefront property located?
    The property is located at 1702 Madison Street Maywood, IL.
    What are key features of this property?
    This property features: Prime storefront location in a high‑traffic area.; 816‑square‑foot space ready for business.; Impeccable property conditions.
    (312) 216-2422
    We can help!
    Listing Contact
    Andres Olaez
    Real Estate License ID: 475180182
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!