105 Madison St Chicago, IL 60602

This exceptional 24-story, 134,220 square foot high-rise office building is located in the heart of Chicago's Loop, at the southwest corner of Madison and Clark Streets. Built in 1928 with significant renovations (2016-2021), including elevator modernization, a new sprinkler and fire alarm system, updated common areas, and a new building automation system, this fee-simple property boasts a strong operating history and a current NOI of $1,574,568, with a pro-forma NOI of $2,470,835. The building features a modified lease type with multi-tenancy, currently at 80% occupancy. Tenants include diverse businesses such as educational institutions, medical practices, and law firms. The property benefits from a prime location within steps of multiple CTA L stations and commuter rail lines, serving a daytime population exceeding 550,000 within a one-mile radius. The 6,395 square foot lot is zoned DC-16, and the building offers rent bumps. This iconic Art Deco building presents a rare investment opportunity in a densely populated area with significant barriers to entry, attracting both business and leisure travelers to the vibrant Chicago Loop. The property's strategic location near major tourist attractions and its strong financial performance make it an attractive investment with a 6.30% cap rate.