123 Madison StChicago, IL 60602

Property Details for 123 Madison St

Year built

1913

Lot size

0.10 AC

Property size (Sq ft)

82,900 SF

Property type

Office buildings

APN

17-16-204-031

APU

1716204031

Description

This exceptional 22-story, 70,000 square foot office building at 123 W Madison Street in Chicago's Central Loop offers a variety of traditional and executive office spaces. Built in 1913, the building provides multiple tenancy options with suites ranging from a minimum of 804 square feet to a maximum contiguous space of 3,731 square feet. The efficient floor plans feature abundant natural light and versatile layouts, ideal for small businesses seeking a flexible and efficient workspace. The building's location in the heart of the Central Loop offers unparalleled access to Chicago's key transportation hubs, including Ogilvie Transportation Center, Union Station, and all CTA buses and trains. The Pedway system provides convenient indoor access to numerous businesses and amenities. The surrounding area boasts a wealth of dining, shopping, and entertainment options, with easy access to Millennium Park, Michigan Avenue, and State Street. The building's responsive property management and strong ownership ensure a positive tenant experience. This is a prime opportunity to establish your business in a highly desirable and convenient location. Twenty-one spaces are currently available.

• CAP approach

  CAP return

  Valuation

  6%

  $26,641,698

  6.5%

  $24,592,336

  7%

  $22,835,740

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,797,725

  Geo Method

  $10,797,725

• Alternative Use

  Use

  Valuation

  Residential

  $30,494,496

  Hospitality

  $27,932,794

  Educational

  $23,239,758

  Medical

  $24,039,008

  Retail

  $36,150,732

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.8817

Longitude

-87.6316

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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