Mixed-Use Theater and
For Sale
$415,000
Pending
5401 West Madison Street, Chicago, IL 60644
Purpose-built theater with mixed-use space and two apartments, offering flexible zoning and on-site residential income potential.
Property Size6,752 SF
Days on Market107
Property Features for 5401 West Madison Street
General Information
Standard status
Pending
Size
6,752 SF
Zoning
COMMR
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,752
Building Details
Year Built
1937
Stories
2
Listing Agency:
Pearson Realty Group
Listed By:
Kirby Pearson · License #471002409
(773) 325-2800
Source:
Compass
Added: May 23
Changed: Aug 8
Last Checked: Jul 24 at 1:35PM
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 Pearson Realty Group
Investment Insights
Based on property information with market context.
This mixed-use property combines a purpose-built entertainment venue with residential units above. The commercial portion is over 6,000 square feet and is designed for performances and events, with multiple performance areas and AV hook-ups for audio/visual integration. There is also a spacious kitchen area equipped with multiple freezers, supported by dedicated employee facilities. Additional improvements include private offices, dressing rooms, and bathrooms for staff and guests, plus a dedicated employee restroom in the kitchen area.
The property is currently licensed as a Public Place of Amusement and Performing Arts Venue and is zoned B3-2, which can provide flexibility for a range of business types consistent with the existing entertainment use. The second level includes two fully equipped apartments: one 3-bedroom with 1.5 bathrooms and one 2-bedroom with 1 bathroom.
For tenants, operators, and buyers seeking an integrated entertainment and living setup, the layout supports on-site operations with both performance and backstage/admin space. For residential occupants, the upper units are already set up as separate apartments. The property also presents residential income potential, with combined rental income potential of $3,000+ per month as stated in the remarks.
The property is currently licensed as a Public Place of Amusement and Performing Arts Venue and is zoned B3-2, which can provide flexibility for a range of business types consistent with the existing entertainment use. The second level includes two fully equipped apartments: one 3-bedroom with 1.5 bathrooms and one 2-bedroom with 1 bathroom.
For tenants, operators, and buyers seeking an integrated entertainment and living setup, the layout supports on-site operations with both performance and backstage/admin space. For residential occupants, the upper units are already set up as separate apartments. The property also presents residential income potential, with combined rental income potential of $3,000+ per month as stated in the remarks.
Key Highlights
- About 6,000+ sq ft mixed‑use commercial space currently operating as the ESO Theater
- Zoned B3‑2 for extensive flexibility for different business types
- Licensed as a Public Place of Amusement and Performing Arts venue
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,089
Businesses Nearby
Explore this area
Business Placement
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Theater & concert hall - Purpose-built theater with mixed-use space and two apartments, offering flexible zoning and on-site residential income potential.
Where is this theater & concert hall located?
The property is located at 5401 West Madison Street Chicago, IL.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: About 6,000+ sq ft mixed‑use commercial space currently operating as the ESO Theater; Zoned B3‑2 for extensive flexibility for different business types; Licensed as a Public Place of Amusement and Performing Arts venue
