Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    500 W Madison St Chicago, IL 60661

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    1.5M SF Chicago West Loop office, retail, transportation complex.

    Property Features for 500 W Madison St

    General Information

    Standard status
    Active

    Building Details

    Year built
    1987

    We can help!

    Listing Contact
    Phillip Golding
    Source: Crexi

    Listing Agency: Savills Chicago Listing Agent: Phillip Golding

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Accenture Tower Mixed-Use Complex

    Accenture Tower, located at 500 West Madison Street in Chicago's West Loop, is a 1.5 million square foot mixed-use complex. Constructed in 1987, the property incorporates office, retail, and transportation functionalities. It is situated in a rapidly developing sub-market within the Chicago metropolitan area, characterized by high-density condominiums, apartments, and office spaces. The building is located atop the historic Northwestern Station, which connects Chicago's central business district to the northern and western suburbs via rail. The location provides access to transportation, retail amenities, and Class A office space. A major renovation completed in 2014 and 2015 updated the building's services.
    Location Intelligence

    Current Use by Public Records

    Premiere Chicago Appliance ... Home Appliance Store solve for (x) Business Management Consultant Held John J Law Firm Infor (Bike/Boat/Book/etc) Store Managility US (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6404722
    Latitude
    41.8823902

    Nearby Similar for Lease

    • New
      Contact for pricing

      Historic Garland Building Office Condos

      Office condos in the heart of Chicago's business district.
      111 N Wabash Ave, Chicago, IL 60602
      View Details
    • New
      $774,888

      Turnkey Restaurant Space in River North

      Fully equipped restaurant space for lease or sale in Chicago.
      416 W Ontario St, Chicago, IL 60654
      View Details
    • New
      Contact for pricing

      Historic Garland Building Office Condos

      Office condos in the heart of Chicago's business district.
      111 N Wabash Ave, Chicago, IL 60602
      View Details
    • Contact for pricing

      Versatile Commercial Space in Bronzeville

      Freestanding building with flexible space in a transforming neighborhood.
      5010 S State St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Bronzeville Commercial Space For Lease

      Freestanding building with flexible space in Chicago's Bronzeville neighborhood.
      5010 S State St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Bronzeville Commercial Space For Lease

      Freestanding building with flexible space in Chicago's Bronzeville neighborhood.
      5010 S State St, Chicago, IL 60609
      View Details
    • Contact for pricing

      Chicago Office Space For Rent

      11,185 sq ft of premier office space in Bronzeville.
      5050 S State St, Chicago, IL 60609
      View Details
    • New
      Contact for pricing

      Prime Retail Space on North Avenue

      Adaptable retail space in a vibrant Chicago mixed-use district.
      1720 W North Ave, Chicago, IL 60622
      View Details
    • New
      $3,900 /Mo
      3,123 SF

      Wicker Park Retail Space Available

      Ground floor and basement retail space in Wicker Park.
      2321 W North Ave, Chicago, IL 60647
      View Details
    • Contact for pricing

      Chicago Lawn Retail Storefront

      Retail storefront for lease in Chicago Lawn neighborhood.
      6310 S Campbell Ave, Chicago, IL 60629
      View Details
    • Contact for pricing
      88,427 SF

      Roseland Medical Center Office Space

      Second-generation medical office space in established Chicago medical campus.
      134 W 111Th St, Chicago, IL 60628
      View Details
    • Contact for pricing

      Chicago Lawn Retail Storefront

      Retail storefront for lease in Chicago Lawn neighborhood.
      6310 S Campbell Ave, Chicago, IL 60629
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 1.5M SF Chicago West Loop office, retail, transportation complex.
    Where is this mixed-use property located?
    The property is located at 500 W Madison St Chicago, IL.
    What are key features of this property?
    This property features: - Class A office space with access to transportation, retail amenities, and office space all under one roof.; - Located in Chicago's West Loop, one of the fastest-growing sub-markets in the Chicago metropolitan area.; - Direct access to Northwestern Station connecting Chicago CBD to northern and western suburbs.
    Request Owner's contact information
    500 W Madison St Chicago, IL 60661
    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.
    500 W Madison St
    Chicago, IL 60661
    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
    500 W Madison St Chicago, IL 60661
    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

    We can help!
    Listing Contact
    Phillip Golding
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!