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    7441 Madison Street Forest Park, IL 60130

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    Claim this Listing
    For Sale
    Under Contract
    $360,000

    COMMERCIAL - Forest Park, IL

    Property size:
    3,000 SF
    Lot size:
    0.07 Acres
    Price / SF:
    $120/SF
    Added:
    Aug 23, 2025
    Days on Market:
    252
    Last Refresh:
    May 1 at 10:06 am

    Property Features for 7441 Madison Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COMMR
    Standard status
    Active Under Contract
    APN
    15124310400000
    Size
    3,000 SF
    Lot size
    0.07 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    22030

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1931
    Floors in Building
    1
    Number of units
    1
    Building materials
    Brick

    We can help!

    Listing Contact
    Sonia Briseno

    Listing agent Sonia Briseno License #475211817

    Listing office Beaulieu Real Estate 5341 W. Belmont Ave., Chicago, IL

    Listing date Aug 23, 2025

    MLS# 12453771

    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.

    Overview

    Prime Commercial Space in Forest Park

    Located in the heart of Forest Park, this mixed-use commercial property offers approximately 3,000 sq. ft. of space. The property features expansive storefront windows that provide natural light and street exposure, suitable for attracting foot and drive-by traffic. The layout includes a front dining or retail area, a central section ideal for office space, and a rear area suited for storage, a small workshop, or additional service or retail use. The property also features a designated private parking space and convenient rear delivery access. The flexible zoning accommodates restaurants, retail, or mixed commercial use. Situated in a lively corridor with shops, dining, and new developments, the location benefits from strong demographics, pedestrian flow, and transit connections. This property is ideal for entrepreneurs, investors, or business owners looking to establish a presence in a sought-after commercial district. The property is being sold in as-is condition.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    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.

    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

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    FAQs

    What type of property is this?
    Storefront property - Versatile mixed-use commercial property in a high-traffic location.
    Where is this storefront property located?
    The property is located at 7441 Madison Street Forest Park, IL.
    What is the asking price?
    The asking price for this property is $360,000.
    What are key features of this property?
    This property features: High‑visibility storefront in a prime location with strong foot and drive‑by traffic.; Versatile mixed‑use commercial space suitable for restaurants, retail, or mixed commercial use.; Approximately 3,000 sq. ft. of space with a flexible, fully built‑out layout.
    (773) 282-7979
    We can help!
    Listing Contact
    Sonia Briseno
    Real Estate License ID: 475211817
    Learn More
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    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.

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    7441 Madison Street, Forest Park, IL 60130

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