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    105 Madison St Chicago, IL 60602

    For Sale
    Contact for pricing

    Chicago Loop: 134,220 SF Office Building

    Property size:
    134,220 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 24-story, 134,220 square foot high-rise office building is located in the heart of Chicago's Loop, at the southwest corner of Madison and Clark Streets. Built in 1928 with significant renovations (2016-2021), including elevator modernization, a new sprinkler and fire alarm system, updated common areas, and a new building automation system, this fee-simple property boasts a strong operating history and a current NOI of $1,574,568, with a pro-forma NOI of $2,470,835. The building features a modified lease type with multi-tenancy, currently at 80% occupancy. Tenants include diverse businesses such as educational institutions, medical practices, and law firms. The property benefits from a prime location within steps of multiple CTA L stations and commuter rail lines, serving a daytime population exceeding 550,000 within a one-mile radius. The 6,395 square foot lot is zoned DC-16, and the building offers rent bumps. This iconic Art Deco building presents a rare investment opportunity in a densely populated area with significant barriers to entry, attracting both business and leisure travelers to the vibrant Chicago Loop. The property's strategic location near major tourist attractions and its strong financial performance make it an attractive investment with a 6.30% cap rate.

    Property Features for 105 Madison St

    General Information

    Property type
    Medical offices
    Square Feet
    134,220 SF

    Building Details

    Year Renovated
    2016
    Buildings
    1
    Stories
    24

    HighLights

    • Prime Loop location at Madison & Clark Streets, Chicago's central business district.
    • Iconic Art Deco building with exceptional street frontage.
    • Strong operating history; current NOI $1,574,568, pro‑forma NOI $2,470,835, 6.30% cap rate.
    • 80% occupancy with diverse multi‑tenant roster including educational, medical, and legal tenants; rent escalations built in.
    • Excellent access to public transportation; steps from multiple CTA L stations and commuter rail lines; daytime population exceeding 550,000 within one mile.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Endzel Law, LLC Family Law Attorney Chicago Section Eight ... Real Estate Attorney Goodman Tovrov Hardy ... Attorney Winsby Inc. Marketing Consultant Amy M. Rubenstein Theater Production

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6312275
    Latitude
    41.8818289

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    FAQs

    What type of property is this?
    Medical office - Chicago Loop: 134,220 SF Office Building
    Where is this medical office located?
    The property is located at 105 Madison St Chicago, IL.
    What are key features of this property?
    This property features: Prime Loop location at Madison & Clark Streets, Chicago's central business district.; Iconic Art Deco building with exceptional street frontage.; Strong operating history; current NOI $1,574,568, pro-forma NOI $2,470,835, 6.30% cap rate.
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    105 Madison St 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
    105 Madison St Chicago, IL 60602
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