7240 Madison Street

Forest Park, IL 60130

$625,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Owner of archery store is retiring... Investment opportunity on vibrant Madison Street in the business district. Conscientious owner diligently maintained building and property. Street level storefront extends the entire lot. Second floor includes a huge sundrenched 2-bedroom apartment (1,700 sqft) and is easy to rent. An additional 1,725sqft on 2nd floor is currently part of commercial use. Attached deep 2 car heated garage and loads of storage. New boiler was installed on the 1st floor & furnace...Owner of archery store is retiring... Investment opportunity on vibrant Madison Street in the business district. Conscientious owner diligently maintained building and property. Street level storefront extends the entire lot. Second floor includes a huge sundrenched 2-bedroom apartment (1,700 sqft) and is easy to rent. An additional 1,725sqft on 2nd floor is currently part of commercial use. Attached deep 2 car heated garage and loads of storage. New boiler was installed on the 1st floor & furnace on the 2nd floor (2022). High visibility and lots of foot traffic. Currently, property is operating as a longtime archery store & range. Please contact listing agent for details and do not disturb clientele.
  1. Listed by Carolyn Michals • Michals Realty, Inc

Property Details for 7240 Madison Street

Area
Forest Park

Location

Listing Courtesy of Michals Realty, Inc
Add your commute
LISTING UPDATED: 12/30/2023 08:34 AM

Property Details for 7240 Madison Street

StatusActive
MLS #11947629
Days on Market246
Taxes$15,834 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1914
Lot Size0.09 AC / 3,750 SF
CountyCook County

Location

Listing Courtesy of Michals Realty, Inc
Add your commute

Building Information for 7240 Madison Street

Stories-Residences3Year Built1914Lot Size0.09 AC / 3,750 SF

Payment Calculator

$4,730 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,411

Property Taxes

$1,320

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7240 Madison Street

General Information
Addtl Parking Information
  • Indoor Parking: 1-5 Spaces
  • Outdoor Parking: Common Parking
Location and General Information
  • Frontage Type: City Street
  • Geographic Locale: Chicago West
  • Information: List Broker Must Accompany
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Central Air, Window Unit(s)
  • Electric: Circuit Breakers, Separate Meters
  • Heat/Ventilation: Electric,Forced Air,Gas,Hot Water,Radiators,Steam,Wall Unit,Operable Windows/Systems Vary-Call List Agt
  • Washer/Dryer Lsd: Yes
  • Misc Inside: Overhead Door/s,Storage Inside,Furnished Units Available
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 1
Property/Lot Information
  • Tenant Pays: Electricity
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 3750
  • Lot Size Square Feet: 3750.0
  • Stories: 1
  • Exterior Building Type: Brick
  • Construction: Brick
  • Fire Protection: Alarm Monitored,Alarm On Site,Fire Extinguisher/s,Carbon Monoxide Detector(s)
  • Building Area Total: 7425
  • # Of Offices: 1
  • # Of Stores: 1
Property and Assessments
  • Possible Use: Commercial, Condominium, Office and Research, Retail
  • Public Document Count: 0
  • Photos Count: 23
Miscellaneous
  • Current Use: Commercial
  • Location: Central Business District,Mixed Use Area,Public Transport Avail,High Traffic Area
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 3
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $.00
  • Gross Income: $.00
  • Gross Scheduled Income: $.00
  • Insurance Expense: $.00
  • Trash Expense Source: Actual
  • Total Monthly Income: 0
  • Water Expense Source: Actual
  • Other Expense: $.00
  • Trash Expense: $1,160.00
  • Water Sewer Expense: $570.00

Property History for 7240 Madison Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 7240 Madison Street

Taxable ValueLand$2,437Additions$44,073Total$46,510
Tax Record2022$16,670 ($1,389 / month)
Home Facts
Baths2.5Total Finished SqFt6,850 SqFtAbove Grade Finished SqFt6,850 SqFtStories2Lot Size3,750 SqFtStyleMulti-Family Res (5+ Units)Year Built1913CountyCOOKAPN15-13-206-032

Schools near 7240 Madison Street

This home is within Proviso Twp Hsd 209 School District.
Rating
School
Type
Grades
Distance
Public - PK to 2
Public - 3 to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Garfield Elementary School
PublicPK to 2

Field Stevenson Elementary School
Public3 to 5

Forest Park Middle School
Public6 to 8

Proviso East High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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7240 Madison Street is a mixed use property for sale in Forest Park, IL 60130. This property was listed for sale on December 15, 2023 by Michals Realty, Inc, it's currently listed at $625,000. This listing's school districts are Proviso Twp Hsd 209 School District, Forest Park School District 91. Nearby schools include Garfield Elementary School, Field Stevenson Elementary School and Forest Park Middle School. 7240 Madison Street is a 0-bed, 0-bath, mixed use property built in 1914.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Michals Realty, Inc

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.