Retail Storefront with Finished
7349 Madison Street, Forest Park, IL 60130
COMMERCIAL - Forest Park, IL
Type:Retail
Property size:
4,580 SFLot size:
0.07 AcresPrice / SF:
$129/SF- Added:
- May 6, 2026
- Days on Market:
- 50
- Last Refresh:
- Jun 24 at 12:06 am
Property Features for 7349 Madison Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Zoning
- RTAIL
- Standard status
- Active
- APN
- 15124330501007
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 7277
Utilities
- Utilities
- Water Available
- Cooling system
- Zoned, Central Air
Building Details
- Year built
- 1915
- Floors in Building
- 3
- Flooring type
- Wood, Concrete
- Building materials
- Brick
- Roof type
- Rubber
Listing agent Oscar Estrada (888) 574-9405
Listing office eXp Realty 939 W. North Ave., Chicago, IL (888) 574-9405
Listing date May 6, 2026
MLS# 12640279
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.
HighLights
- Brick commercial building built in 1915 with rubber roof and concrete/wood flooring
- Central air with zoned heating and cooling
- Total of 4,580 SF of street‑front space currently used as a retail store, including the finished basement area
- Ground level features hardwood floors, bathroom, kitchen, high ceilings, and lots of storage
- Lower level includes a bathroom, utility room, and additional storage
- Water available; ample street and village parking
Overview
This centrally located retail storefront includes a ground-level sales area with hardwood floors, a bathroom and kitchen, high ceilings, and extensive storage. The property also features a finished basement level with an additional bathroom, a utility room, and added storage space. Heating and cooling are separately zoned for the convenience of operating the upper and lower areas independently.
The building is positioned in downtown Forest Park along Madison Street within a mixed-use, pedestrian-oriented commercial district. The remarks indicate allowed uses include retail, restaurants, bars, cafes, upper-floor residential, offices, boutique commercial, and mixed-use buildings. Parking is described as ample via street and village parking, with easy access to the expressway, public transportation, and the train.
For a buyer or tenant seeking flexible retail configuration, the existing layout provides dedicated public-facing space above and additional functional space below for storage, back-of-house operations, or complementary uses. The property’s direct storefront presence, kitchen and bathroom facilities on the ground level, and separate HVAC zoning support a variety of retail and mixed-use business models, subject to zoning approval.
The building is positioned in downtown Forest Park along Madison Street within a mixed-use, pedestrian-oriented commercial district. The remarks indicate allowed uses include retail, restaurants, bars, cafes, upper-floor residential, offices, boutique commercial, and mixed-use buildings. Parking is described as ample via street and village parking, with easy access to the expressway, public transportation, and the train.
For a buyer or tenant seeking flexible retail configuration, the existing layout provides dedicated public-facing space above and additional functional space below for storage, back-of-house operations, or complementary uses. The property’s direct storefront presence, kitchen and bathroom facilities on the ground level, and separate HVAC zoning support a variety of retail and mixed-use business models, subject to zoning approval.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.7k | $15.00 |
| − Vacancy | −$5.2k | −$1.13 |
| EGI | $63.5k | $13.88 |
| − OpEx | −$19.1k | −$4.16 |
| NOI | $44.5k | $9.71 |
4,580 SF · lease $15.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$635.5K
$556.0K – $741.4K
NOI $44,483 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,531 @ 7.0% cap · market cap 15.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Similar Places Nearby
- Fairy Godmothers — 501 Hannah Ave, Forest Park, IL 60130
- Good Earth Greenhouse LLC — 7900 Madison St, River Forest, IL 60305
- Sun Perennials — 7900 Madison St, River Forest, IL 60305
- EcoWilde Flower Co. — 410 Elgin Ave Suite F, Forest Park, IL 60130
- Beautiful Flowerz, Inc. — 1010 Lake St, Oak Park, IL 60301
Location Insight
- Map
- Local Demand
- City
- Forest Park
- County
- Will
- State
- Illinois
- Longitude
- -88.1351928
- Latitude
- 41.5362364
Nearby Similar for Sale
FAQs
What type of property is this?
Storefront property - Retail storefront plus finished basement offers high-ceiling interior space with separate heating and cooling.
Where is this storefront property located?
The property is located at 7349 Madison Street Forest Park, IL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Brick commercial building built in 1915 with rubber roof and concrete/wood flooring; Central air with zoned heating and cooling; Total of 4,580 SF of street‑front space currently used as a retail store, including the finished basement area
