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    7321 Madison St Forest Park, IL 60130

    New
    For Sale
    $2,999,999

    Restaurant - Forest Park, IL

    Property size:
    22,000 SF
    Days on Market:
    4
    Last Refresh:
    Dec 15 at 7:06 am

    Property Features for 7321 Madison St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    15124340531004
    Size
    22,000 SF

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1926
    Architectural style
    Other

    The Sokol Group LLC (312) 421-2525 [email protected]

    Listing agent Andy Sokol (312) 421-2525 License #471004535

    Listing date Dec 12, 2025

    MLS# 12463248 Listing URL

    Copyright © 2025 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

    Forest Park Multi-Tenant Investment Property

    Located in the heart of Forest Park on Madison Street, this multi-tenant building is available for sale. The property is situated on a bustling stretch of bars, restaurants, and shops, just west of Harlem. The building features 22,000 square feet of space and is currently fully occupied. One of the tenants is a music venue. The second floor offers 6,800 square feet of office space, featuring multiple offices, a kitchenette, two conference rooms, a large open bullpen, and two bathrooms. The space is suitable for technology companies requiring substantial power. The property benefits from ample on-street parking, as well as public parking in the area. It is conveniently located near public transportation and the highway. The building offers value-add options and is suitable for an investor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Similar Places Nearby

    Scratch Catering & Parties, Zesty Catering, Just Dip It Tacos, Cactus Grill Mexican Restaurant and catering, Starship Restaurant & Catering

    Location Insight

    • Map
    • Local Demand
    City
    Forest Park
    County
    Will
    State
    Illinois
    Longitude
    -88.1351928
    Latitude
    41.5362364

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    FAQs

    What type of property is this?
    Restaurant - Multi-tenant building in the heart of Forest Park, Illinois.
    Where is this restaurant located?
    The property is located at 7321 Madison St Forest Park, IL.
    What is the asking price?
    The asking price for this property is $2,999,999.
    What are key features of this property?
    This property features: - Prime 6800 SF 2nd-floor office space available for sale or lease.; - Fully occupied building with established tenants including Robert's Westside music venue, Jimmy Johns, and an IT company.; - Ideal location in the heart of Forest Park on Madison St, surrounded by bars, restaurants, and shops.
    (312) 421-2525
    Request Owner's contact information
    7321 Madison St Forest Park, IL 60130
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    Forest Park, IL 60130
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    Realmo Value Estimation

    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.

    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.

    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
    7321 Madison St Forest Park, IL 60130
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