Add Listing
    For Sale
    • 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

    7521 Madison St Forest Park, IL 60130

    View on Map
    Sponsored
    For Sale
    $4,500,000

    LAND - Forest Park, IL

    Days on Market:
    55
    Last Refresh:
    Mar 10 at 3:06 am

    Property Features for 7521 Madison St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    COMMR
    APN
    15124310670000

    Utilities

    Utilities
    Natural Gas Available

    We can help!

    Listing Contact
    Barry Newman
    Barry Newman

    eXp Realty, LLC (888) 574-9405

    Listing agent Barry Newman (847) 921-1666

    Listing date Jan 14, 2026

    MLS# 12538779 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Prime Redevelopment Opportunity in Forest Park

    This property presents an incredible redevelopment or investment opportunity, featuring a single-story former bank spanning over 38,000 sq. ft. with a dedicated drive-thru, accompanied by an adjacent restaurant. The property includes a massive basement, offering excellent accessibility and potential indoor parking for 100+ cars. Positioned on a high-traffic corridor, the site is surrounded by popular shops, restaurants, and specialty stores. The zoning is COMMR. This location is ideal for a luxury residential rental development or a mixed-use project. The separate restaurant adds immediate value or leasing potential. This property offers endless potential for developers or investors seeking visibility and scale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Banks

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Forest Park
    County
    Will
    State
    Illinois
    Longitude
    -87.813363
    Latitude
    41.879702

    Nearby Similar for Sale

    • $600,000
      3,014 SF

      Victorian Multi-Family in Forest Park

      Two-unit property on a double lot near downtown.
      7415 Dixon St, Forest Park, IL 60130
      View Details
    • $4,500,000

      Former Bank Redevelopment Opportunity

      Single-story building with drive-thru, basement, and adjacent restaurant.
      7521 Madison St, Forest Park, IL 60130
      View Details
    • $780,000

      Industrial Flex Property with Yard

      8,129 SF industrial flex property with 35-space parking yard.
      7405-7417 Roosevelt Rd, Forest Park, IL 60130
      View Details
    • $599,000
      5,624 SF

      Retail Building on Roosevelt Road

      High-exposure retail building suitable for automotive or retail businesses.
      7213 W Roosevelt Rd, Forest Park, IL 60130
      View Details
    • $780,000
      8,129 SF

      Industrial Flex Property with Yard

      8,129 SF industrial flex property with 35-space parking yard.
      7405-7417 Roosevelt Rd, Forest Park, IL 60130
      View Details
    • $599,000
      5,624 SF

      Retail Building with Drive-In Doors

      5,624 SF retail building with showroom and drive-in doors.
      7213 Roosevelt Rd, Forest Park, IL
      View Details
    • $780,000
      8,129 SF

      Warehouse/Autoshop with Large Yard

      4,984 SF warehouse/autoshop with 0.37 AC yard for sale.
      7417 Roosevelt Rd, Forest Park, IL
      View Details
    • Contact for pricing

      Retail Strip Center Near Oak Park

      Retail strip center near public transit and downtown Oak Park.
      7736-48 Madison St, Forest Park, IL 60130
      View Details
    • Contact for pricing
      254,433 SF

      Retail Space at Forest Park Plaza

      Retail spaces available at signalized intersection near Living Fresh Market.
      7600-7630 W Roosevelt Rd, Forest Park, IL 60130
      View Details
    • Contact for pricing
      12,000 SF

      Retail Strip Center Near Oak Park

      12,000 SF retail strip center near downtown Oak Park.
      7736-48 Madison St, Forest Park, IL 60130
      View Details
    • $695,000

      Madison Street Mixed-Use Building

      Mixed-use building with restaurant, bar, and apartments in Forest Park.
      7353 Madison St, Forest Park, IL 60130
      View Details
    • $3,500,000
      45,000 SF

      45,000 SF Flex/Industrial Building

      45,000 SF building suitable for flex or industrial uses.
      1401 Cir Ave, Forest Park, IL
      View Details

    FAQs

    What type of property is this?
    Bank - Single-story former bank and adjacent restaurant on high-traffic corridor.
    Where is this bank located?
    The property is located at 7521 Madison St Forest Park, IL.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: - Over 38,000 sq. ft. single-story building on a high-traffic corridor.; - Massive basement with potential indoor parking for 100+ cars.; - Dedicated drive-thru and adjacent restaurant included.
    (847) 921-1666
    Request Owner's contact information
    7521 Madison St Forest Park, IL 60130
    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.
    7521 Madison St
    Forest Park, IL 60130
    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
    7521 Madison St Forest Park, IL 60130
    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

    We can help!
    Listing Contact
    Barry Newman
    Barry Newman
    (847) 921-1666 (888) 574-9405
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!