Connect CRE Chicago

Mixed-Use West Loop Property Hits the Market

October 20, 2021

Essex Realty Group has listed for sale 1041 W. Madison St., a new construction four-unit mixed-use building in Chicago’s West Loop.

Listed for $2,349,000, this apartment building is comprised of one street-level commercial space, three large 3 bed/3 bath apartment units, two garage parking spaces and three additional exterior parking spaces.

The apartments are fully occupied, and the first-floor commercial space is leased through 2025 to a high- end tobacco shop with several other successful locations throughout the city. The property sits in walkable location along the Madison Street commercial district.

“This is a phenomenal, and rarely available, opportunity to acquire a fully stabilized, boutique investment property in Chicago’s most rapidly growing West Loop neighborhood,” said Essex director and listing broker Matt Feo.

The property is situated on the south side of Madison Street, just steps from many of the West Loop’s famous restaurants located along Madison and Randolph.

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Tagged in this post: Matt Feo