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    1027-31 Madison St Chicago, IL 60607

    For Lease
    Contact for pricing

    Historic West Loop retail space, fully renovated.

    Lot size:
    30,620 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional four-story mixed-use building, located at 1027-31 West Madison Street in Chicago's vibrant West Loop neighborhood, presents a unique investment opportunity. Boasting a total of 30,620 square feet, the property is currently entirely vacant, offering immediate occupancy. Originally constructed in 1872 and extensively renovated in 2011, this historically landmarked building (Class L designation, 2011) benefits from its prime location on the bustling Madison Street corridor, just one block south of McDonald's headquarters. The West Loop's dynamic environment, characterized by a rapidly expanding residential population and a surging daytime workforce, ensures high visibility and strong potential for future growth. The single-tenant occupancy allows for flexible use and customization to suit a variety of commercial needs. Cook County location and a 60607 zip code add to its desirability. This property offers a blend of historical charm and modern functionality, making it an ideal choice for discerning investors seeking a prominent presence in one of Chicago's most sought-after submarkets. The building's size and location provide significant potential for a variety of retail or mixed-use ventures.

    Property Features for 1027-31 Madison St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    30,620 SF

    Building Details

    Year Built/Renovated
    1872/2011

    Unit(s) available at that property

    Space
    Available Space
    Size
    30,620 SF

    HighLights

    • Exceptional four‑story, 30,620 SF mixed‑use building in Chicago's West Loop, currently vacant.
    • Historically landmarked (Class L, 2011), located on Madison Street, one block south of McDonald's headquarters.
    • Prime West Loop location offers high visibility and strong growth potential due to expanding residential and daytime workforce.
    • Single‑tenant occupancy allows for flexible use and customization.
    • Cook County, 60607 zip code.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6531605
    Latitude
    41.8814642

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    FAQs

    What type of property is this?
    Retail property - Historic West Loop retail space, fully renovated.
    Where is this retail property located?
    The property is located at 1027-31 Madison St Chicago, IL.
    What are key features of this property?
    This property features: Exceptional four-story, 30,620 SF mixed-use building in Chicago's West Loop, currently vacant.; Historically landmarked (Class L, 2011), located on Madison Street, one block south of McDonald's headquarters.; Prime West Loop location offers high visibility and strong growth potential due to expanding residential and daytime workforce.
    Request Owner's contact information
    1027-31 Madison St Chicago, IL 60607
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    Chicago, IL 60607
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    Realmo Value Estimation

    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.

    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.

    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
    1027-31 Madison St Chicago, IL 60607
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