Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Restaurant and Bar Build-Out Space Title is generated by Realmo AI

    7353 Madison Street, Forest Park, IL 60130

    View on Map
    Claim this Listing
    New
    For Lease
    $30 SF/Yr $7,500/Mo (calc)

    Turnkey restaurant and bar setup includes a commercial kitchen, seating, and a private party or overflow room.

    Type:Commercial
    Property size:
    3,000 SF
    Added:
    Jun 2, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 4 at 1:45 am

    Property Features for 7353 Madison Street

    General Information

    Standard status
    Active
    Size
    3,000 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1905

    We can help!

    Listing Contact
    MARCUS SULLIVAN
    MARCUS SULLIVAN

    Listing agent MARCUS SULLIVAN License #475139568

    Listing office SPERRY VAN NESS

    Listing date Jun 2, 2026

    Source Corcoran

    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 SPERRY VAN NESS

    HighLights

    • Approximately 3,000 SF commercial storefront with full restaurant and bar build‑out
    • Main room features a large bar and additional seating
    • Includes a private party/overflow room
    • Fully commercial kitchen with required plumbing, hood system, and refrigeration
    • Includes rights to basement space for additional storage and office space
    • Year built: 1905

    Overview

    7353 Madison is an approximately 3,000-square-foot storefront built out for a full-service restaurant and bar. The main room features a large bar and additional seating for guests. The space also includes a private party or overflow room, along with a fully commercial kitchen configured with required plumbing, a hood system, and refrigeration.

    The property is located at 7353 Madison Street in Forest Park, IL, and offers on-site basement rights for additional storage and office space. This arrangement supports day-to-day operations by adding back-of-house and administrative flexibility beyond the primary dining area.

    Designed for operators who want a functional, hands-on footprint, the layout supports both regular service and private events through the dedicated party/overflow room. The inclusion of the commercial kitchen improvements and basement storage/office rights can help streamline the transition from concept to operations. The space is available for rent and is suited to a tenant looking for a restaurant and bar environment with the major systems already in place.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

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

    Nearby Similar for Lease

    • $21 SF/Yr
      6,800 SF

      Prominent Corner Building in Forest Park

      Prime 6,800 SF corner location in Forest Park.
      7521 Madison Street, Forest Park, IL 60130
      View Details
    • $22 SF/Yr
      12,000 SF

      Retail Strip Center For Rent

      Retail strip center near Forest Park Blue Line station.
      7736-48 Madison Street, Forest Park, IL 60130
      View Details
    • $30 SF/Yr
      1,845 SF

      Prime Retail Space on Madison

      High-visibility retail space in vibrant Forest Park location.
      7405 Madison Street, Forest Park, IL 60130
      View Details
    • $20 SF/Yr

      Bright Office Suite in Forest Park

      Office suite with natural light, utilities included, near transportation.
      7700 Industrial Drive, Forest Park, IL 60130
      View Details
    • Contact for pricing
      150,316 SF

      Industrial Space with Office Component

      150,316 SF available on 5.07 acres with 4,509 SF office.
      7801 Industrial Drive, Forest Park, IL, 60130
      View Details
    • $22 SF/Yr

      Forest Park Office Space Available

      Second-floor office space in Forest Park's Central Business District.
      7401 Madison Street #2, Forest Park, IL 60130
      View Details
    • $22 SF/Yr

      Forest Park Office Space Available

      Second-floor office space in Forest Park's Central Business District.
      7401 Madison Street #3, Forest Park, IL 60130
      View Details
    • $22 SF/Yr

      Forest Park Office Space Available

      Second-floor office space in Forest Park's Central Business District.
      7401 Madison Street #4, Forest Park, IL 60130
      View Details
    • $22 SF/Yr

      Renovated Forest Park Storefront Available

      Renovated live/work storefront in Forest Park, close to transportation.
      7437 Randolph Street, Forest Park, IL 60130
      View Details
    • Contact for pricing

      Commercial Space in Forest Park

      Commercial space for rent in Forest Park, Illinois.
      7439 W MADISON Street, Forest Park, IL 60130
      View Details
    • $22 SF/Yr

      Forest Park Office Space Available

      Second-floor office space in Forest Park's Central Business District.
      7401 Madison Street #1, Forest Park, IL 60130
      View Details
    • Contact for pricing
      12,000 SF

      Industrial Property Near Rail Line

      Industrial property for rent near I-290 and rail access.
      7459 Franklin Street, Forest Park, IL 60130
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Turnkey restaurant and bar setup includes a commercial kitchen, seating, and a private party or overflow room.
    Where is this conventional restaurant located?
    The property is located at 7353 Madison Street Forest Park, IL.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: Approximately 3,000 SF commercial storefront with full restaurant and bar build‑out; Main room features a large bar and additional seating; Includes a private party/overflow room
    (312) 676-1866
    We can help!
    Listing Contact
    MARCUS SULLIVAN
    MARCUS SULLIVAN
    Real Estate License ID: 475139568
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    7353 Madison Street, Forest Park, IL 60130
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!