4948 Madison St Chicago, IL 60644

This exceptional investment opportunity presents a 12,100 square foot retail building situated on a prominent corner in Chicago, IL (60644). The property, built in 1955 and boasting a C-1 zoning designation, features a single story and 25 parking spaces. The asking price is $1,399,000, representing a compelling $22,004 per square foot land value. The property includes a well-established dry cleaning business, complete with all trade fixtures and equipment. Recent updates include fresh exterior and front painting. Financial records indicate a net income of $390,000 in the previous year, yielding a substantial 25% capitalization rate. The business, operational since 1947, has been under the same ownership for over 15 years. This offering presents a rare chance to acquire a profitable, established business with a strong track record, located in a high-traffic area with excellent walkability (Walk Score® 79) and transit access (Transit Score® 70). The APN is 16-09-427-021-0000. This property is ideal for both investors and owner-users seeking a turnkey operation with significant upside potential.