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Property profile & analytics
FOR LEASE
Office buildings
70 W Madison St Chicago, IL 60602
Entity Owned
1-yr Hold
Free & Clear
Property ID
US28-5809335
For Lease
1 / 2
$32 SF/Yr
70 W Madison St, Chicago, IL 60602
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1912
Total area
1,495,900 SF
Lot
1.04 ac (45,302 SF)
APN
17-09-462-015
UPID
US28-5809335
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$526.71M
Comparable Approach
Comparable
$415.65M
Blend (final)
Blend
$430.60M
Owner & transaction history
Madison Clark Realty LLC · 1 yrs held
Madison Clark Realty LLC
since 2025
Last sale
$374.6M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$651.2M
+223.3%
Neighborhood: shopping center
$357.6M
+77.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Chicago submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chicago submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$461,455,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$570,595,000
6.5%
$526,705,000
7%
$489,080,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$651,240,000
Change: +223% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$357,640,000
Change: +78% · Conversion: Difficult
Blend value · Realmo final
$430.60M
Range $387.54M – $473.66M · ±10% · vs last sale $374.60M (Jan 3 2025)
Last sale anchor
$374.60M
Jan 3 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$288 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$14,973,123
Tax year 2022
Assessed value
$72,797,334
Assessed 2022
Previous assessed
$70,974,600
+2.6% YoY
Effective rate
20.57%
On assessed value
Assessed land
$6,827,850
Assessed improvement
$65,969,484
Land market value
$27,311,400
Improvement market value
$263,877,936
Total market value
$291,189,336
Applied tax rate
76,015.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1912
Heating
NONE
Stories
57
Total area
1,495,900 SF
Lot
1.04 ac (45,302 SF)
APN
17-09-462-015
UPID
US28-5809335
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$651.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$357.6M
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1912
Heating
NONE
Stories
57
Lot
1.04 ac
Current owner
From public records · entity-resolved
Madison Clark Realty LLC
Entity
Free & Clear · 1 yrs held
Mailing address
70 W MADISON ST STE #1900, CHICAGO, IL 60602-4255
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2025
—
Madison Clark Realty LLC
2024 3 Fnp Owner LLC
Quitclaim Deed
related
—
Aug 23, 2018
—
3 Fnp Owners LLC
—
Grant Deed
related
$610,000,000 · Bank Of America
Aug 29, 2014
$374,600,000
3 Fnp Owner LLC
3fnp LLC
Grant Deed
$273,000,000 · Bank Of America
Sep 1, 2011
—
3fnp LLC
Hines 70 West Madison LP
Special Warranty Deed
$220,000,000 · Wells Fargo Bank NA
Mar 23, 2005
—
70 W Madison Hines
Madison Two Assoc
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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