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Property profile & analytics
FOR LEASE
Office buildings

120 W Madison St Chicago, IL 60602

111,200 SF 0.21 ac lot Built 1929
Entity Owned 15-yr Hold Absentee Owner Free & Clear
Property ID
US28-2710128
Property summary
AI-generated overview

This exceptional Class B office building, located at 120 West Madison Street in Chicago's Central Loop (60602), offers a diverse range of office spaces ideal for businesses of all sizes. The property boasts a total of 111,323 square feet, with 23 individual suites available for lease. Spaces range from a minimum of 699 square feet to a maximum contiguous space of 7,157 square feet, providing flexibility for various occupancy needs. Currently, 52,297 square feet are vacant, presenting a significant opportunity for immediate occupancy. Built in 1929, this building offers a blend of classic charm and modern functionality. Amenities include three passenger elevators, ensuring efficient access to all floors, along with convenient conferencing facilities and secure bicycle storage for employees. The building's location in the heart of the Chicago Loop provides unparalleled access to public transportation, restaurants, and other essential businesses. This property is perfect for businesses seeking a prestigious address in a vibrant and dynamic urban environment. The building's "Executive Office" and "Creative Office" sub-types cater to a wide range of business styles and needs. Inquire today to explore the available spaces and secure your ideal office location within this highly sought-after Chicago Loop address. Cook County location.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1929
Total area 111,200 SF
Lot 0.21 ac (9,000 SF)
APN 17-09-460-002
UPID US28-2710128
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Thompson Law Group P.C. Law Firm
  • L. Bradley Law, LLC. Law Firm
  • Listo Technical Services Electronics & Wireless Store
  • Staver Accident Injury Lawyers, P.C. Law Firm
  • The Attorney's Clerk Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$16.89M
Owner & transaction history
120 Building LLC · 15 yrs held
120 Building LLC
since 2011
7 recorded transactions
2011
Price N/A
2008
Price N/A
2006
$11.6M
2005
Price N/A
1998
Price N/A
1997
$3.2M
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center $26.6M +77.5%
Apartment house (5+ units) $19.1M +27.7%
Retail stores $16.2M +8.1%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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