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18-Unit Apartment Building with Retail
For Sale
$1,400,000

5100 W Madison St, Chicago, IL 60644

Renovated apartments with updated kitchens and bathrooms accompany a ground-floor retail space.

Property Size23,552 SF
Days on Market84

Property Features for 5100 W Madison St

General Information

Standard status Active
Size 23,552 SF
Property subtype Multifamily

Units

Unit Mix 5 x 2BD/1BA, 7 x 3BD/1BA, 6 x 3BD/2BA
Multifamily Units 18

Building Details

Building Size 23,552 SF
Year Built 1927
Listing Agency: Kiser Group
Listed By: Aaron Sklar · License #IL #475161507
Source: Kisergroup
Added: Jun 11 Changed: Sep 1 Last Checked: Sep 2 at 4:29PM

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kiser Group

Investment Insights

Based on property information with market context.

Built in 1927, this apartment property includes 18 residential units and one retail space. The residential layout comprises five two-bedroom, one-bath units; seven three-bedroom, one-bath units; and six three-bedroom, two-bath units.

Renovated apartments feature updated kitchens and bathrooms. Additional property improvements include copper plumbing throughout, newer porches, and a new 100-gallon water heater installed in 2023.

Key Highlights

  • 18 residential units with five 2BD/1BA, seven 3BD/1BA, and six 3BD/2BA apartments
  • One retail space included in the property
  • Renovated units with updated kitchens and bathrooms

Property Analytics

Current Use

Bernices Cleaners (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Gym & Fitness Center Spa & Massage Center (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

18
Residential units

Location Intelligence

Trade Area within ½ mile

1,151
Businesses Nearby

Demographics for 60644, IL

47,239
Population
20,619
Households
2.3
Avg Household Size
36
Median Age
11%
College-Educated
85%
High-School Grad
3.5 sq mi
ZIP Area
13,497
Density / Sq Mi
$37,952
Median Household Income
$31,304
Median Earnings
$1,096
Median Rent
$238,300
Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025
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Frequently Asked Questions

What type of property is this?
Apartment building - Renovated apartments with updated kitchens and bathrooms accompany a ground-floor retail space.
Where is this apartment building located?
The property is located at 5100 W Madison St Chicago, IL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 18 residential units with five 2BD/1BA, seven 3BD/1BA, and six 3BD/2BA apartments; One retail space included in the property; Renovated units with updated kitchens and bathrooms
More about this property
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