2217 W Madison St - Apartments FOR SALE


Chicago, IL 60612
$13,999,000 USD
773-645-7900
2217 W Madison St, Chicago, IL for Sale
$13,999,000 USD
Apartments - FOR SALE
1/17
null | 6.16% Cap Rate

2217 W Madison St
Chicago, IL 60612


HIGHLIGHTS

  • 46-UNIT STABILIZED MULTIFAMILY INVESTMENT OPPORTUNITY

OVERVIEW

46-unit multifamily asset in the rapidly developing neighborhood of United Center/Near West Side in Chicago, IL. The property is approximately 40,500 RSF, containing a mixture of two-bedroom/two bath and one-bedroom/ one bath apartments, with two elevator bays, 1:1 attached garage parking and common rooftop deck. Built in 2020 to an elevated standard all units are inclusive of stainless-steel appliances, quartz countertops, all new plumbing and electrical systems, in-unit laundry, custom outfitted closets, window treatments and more. With the United Center and Medical District just blocks away and the new Green Line stop at Damen and Lake opening late summer 2024, the Near West Side is a highly trafficked area that includes easy access to grocery stores, bars, restaurants, hotels, and various other entertainment options with much upside on the horizon. In addition to the new Green Line Station and being on a major bus route, the subject property offers tenants excellent transportation options via the Dan Ryan, Eisenhower & Blue Line stations.

FOR SALE DETAILS

PRICE

$13,999,000 USD

PRICE/SF

$281 USD /SF

# OF UNITS

46

PRICE/UNIT

$304,326

CAP RATE

6.16%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2217 W Madison

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2020

PARKING SPACES

46

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

-

APN/PARCEL ID

17-18-101-011-0000,17-18-101-012-0000

ASK ABOUT THIS PROPERTY

Staci SlatteryNorth Clybourn Group, Inc.More Info
773-645-7900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Staci SlatteryNorth Clybourn Group, Inc.More Info
773-645-7900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.