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    123 Madison St Chicago, IL 60602

    For Lease
    $20 SF/Yr

    Prestigious Chicago Loop office space. Flexible layouts available.

    Lot size:
    70,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 22-story, 70,000 square foot office building at 123 W Madison Street in Chicago's Central Loop offers a variety of traditional and executive office spaces. Built in 1913, the building provides multiple tenancy options with suites ranging from a minimum of 804 square feet to a maximum contiguous space of 3,731 square feet. The efficient floor plans feature abundant natural light and versatile layouts, ideal for small businesses seeking a flexible and efficient workspace. The building's location in the heart of the Central Loop offers unparalleled access to Chicago's key transportation hubs, including Ogilvie Transportation Center, Union Station, and all CTA buses and trains. The Pedway system provides convenient indoor access to numerous businesses and amenities. The surrounding area boasts a wealth of dining, shopping, and entertainment options, with easy access to Millennium Park, Michigan Avenue, and State Street. The building's responsive property management and strong ownership ensure a positive tenant experience. This is a prime opportunity to establish your business in a highly desirable and convenient location. Twenty-one spaces are currently available.

    Property Features for 123 Madison St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    70,000 SF
    Total Rate
    116666.67

    Building Details

    Year Built
    1913
    Stories
    22

    Unit(s) available at that property

    Space
    Suite 1400
    Size
    1,539 SF
    Rate per SF
    $20
    Space
    Retail
    Size
    1,938 SF
    Rate per SF
    $40
    Space
    Suite 200
    Size
    3,731 SF
    Rate per SF
    $20
    Space
    Lower Level
    Size
    3,096 SF
    Rate per SF
    $20
    Space
    Suite 300
    Size
    3,731 SF
    Rate per SF
    $20
    Space
    Suite 1704
    Size
    848 SF
    Rate per SF
    $20
    Space
    Suite 1200
    Size
    3,731 SF
    Rate per SF
    $20
    Space
    Suite 1100
    Size
    3,731 SF
    Rate per SF
    $20
    Space
    Suite 1600
    Size
    3,731 SF
    Rate per SF
    $20
    Space
    Suite 2000
    Size
    3,731 SF
    Rate per SF
    $20
    Space
    Suite 1300
    Size
    2,927 SF
    Rate per SF
    $20
    Space
    Suite 1310
    Size
    804 SF
    Rate per SF
    $20
    Space
    Suite 600
    Size
    2,690 SF
    Rate per SF
    $20
    Space
    Suite 1900
    Size
    1,675 SF
    Rate per SF
    $20
    Space
    Suite 500
    Size
    3,731 SF
    Rate per SF
    $20
    Space
    Suite 1005
    Size
    1,303 SF
    Rate per SF
    $20
    Space
    Suite 1425
    Size
    911 SF
    Rate per SF
    $20
    Space
    Suite 1950
    Size
    2,056 SF
    Rate per SF
    $20
    Space
    Suite 1800
    Size
    3,731 SF
    Rate per SF
    $20
    Space
    Suite 1450
    Size
    1,100 SF
    Rate per SF
    $20
    Space
    Suite 2200
    Size
    3,731 SF
    Rate per SF
    $20

    HighLights

    • 22‑story, 70,000 square foot office building in Chicago's Central Loop.
    • Suites range from 804 to 3,731 square feet.
    • Newly renovated lobby and corridors.
    • Small floor plates ideal for tenant identity.
    • Abundant natural light.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Access To Justice, Inc. Divorce Lawyer Cherskov Flaynik & Gurda, ... Attorney Charles Aaron Silverman, ... Attorney Spine-health Hospital Chicago Tech Support Computer Consultant

    Suggested Use

    Spa & Massage Realty agency Hair Salon Restaurant Dental Office Nail Salon Building Supply Daycare Center Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6319628
    Latitude
    41.8817398

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    FAQs

    What type of property is this?
    Office Property / Space - Prestigious Chicago Loop office space. Flexible layouts available.
    Where is this office property / space located?
    The property is located at 123 Madison St Chicago, IL.
    What is the lease rate?
    The lease rate is $20-$40 SF/Yr.
    What are key features of this property?
    This property features: 22-story, 70,000 square foot office building in Chicago's Central Loop.; Suites range from 804 to 3,731 square feet.; Newly renovated lobby and corridors.
    Request Owner's contact information
    123 Madison St Chicago, IL 60602
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    Chicago, IL 60602
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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
    123 Madison St Chicago, IL 60602
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