Property profile & analytics
123 Madison St Chicago, IL 60602-4511
- Office buildings
- 82,900 SF
- 0.10 lot acres
OFF-MARKET
Value Estimations
$10,585,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US28-5418964
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Current Use by Public Records
- Access To Justice, Inc. / Law Firm
- Cherskov Flaynik & Gurda, LLC / Law Firm
- Charles Aaron Silverman, PC / Law Firm
- Spine-health / Hospital
- Chicago Tech Support / IT Consulting Firm / (Bike/Boat/Book/etc) Store
Property Details for 123 Madison St
- Year built
- 1913
- Lot size
- 0.10 lot acres
- Property size
- 82,900 SF
- Property type
- Office buildings
- APN
- 17-16-204-031
- APU
- 1716204031
Description
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.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $11,163,000
Market price range: $4.27M - $23.0M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $11,165,000 Current use
- APARTMENT HOUSE (5+ UNITS)
- $14,260,000 Change: +28% Conversion: Easy
- RETAIL STORES
- $12,065,000 Change: +8% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $9,930,000 Change: -11% Conversion: Difficult
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6316
- Latitude
- 41.8817
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$268,339
$679,500
$625,129
$1,304,629
-
$2,718,000
$2,500,516
$5,218,516
