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1408 W Madison St 0.43 Acres of Commercial Land in Chicago, IL 60607
Investment Highlights
- The Palace Grill presents a rare, never-before-available opportunity to acquire a corner property in the heart of Chicago's West Loop.
- ±18,753 SF of land at the prominent intersection of Madison Avenue and Loomis Street.
- The property is ideally suited for residential rental, condominium, mixed-use redevelopment, or an owner-user opportunity.
- The asset is being offered as-is with its existing C2-3 zoning in place.
- Strategically positioned at the gateway to the United Center and the forthcoming 1901 Project, a transformative $7 billion private investment.
- Price is subject to offer.
Executive Summary
The Palace Grill presents a rare opportunity to acquire a corner property encompassing approximately 18,753 SF of land at the prominent intersection of Madison Avenue and Loomis Street. Offered as-is with existing C2-3 zoning, the site features approximately 56,259 SF of buildable area and is ideally suited for residential rental, condominium, mixed-use redevelopment, or an owner-user opportunity. Strategically positioned at the gateway to the United Center and the forthcoming $7 billion 1901 Project, the site is exceptionally well-located for long-term growth on Chicago's Near West Side. Price is subject to offer.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per AC |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
Property Facts
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Total Lot Size | 0.43 AC |
| Property Type | Land | ||
| Zoning | C2-3 - Commercial | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 0.43 AC |
| Zoning | C2-3 - Commercial |
1 Lot Available
Lot
| Lot Size | 0.43 AC |
| Lot Size | 0.43 AC |
Corner redevelopment land site
Description
The Palace Grill presents a rare opportunity to acquire a corner property encompassing approximately 18,753 SF of land at the prominent intersection of Madison Avenue and Loomis Street. Offered as-is with existing C2-3 zoning, the site features approximately 56,259 SF of buildable area and is ideally suited for residential rental, condominium, mixed-use redevelopment, or an owner-user opportunity. Strategically positioned at the gateway to the United Center and the forthcoming $7 billion 1901 Project, the site is exceptionally well-located for long-term growth on Chicago's Near West Side.
Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
90/100
Very bikeable
80/100
Property Taxes
| Parcel Numbers | Total Assessment | $280,359 (2025) | |
| Land Assessment | $273,609 (2025) | Annual Taxes | ($1) |
| Improvements Assessment | $6,750 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Numbers
Land Assessment
$273,609 (2025)
Improvements Assessment
$6,750 (2025)
Total Assessment
$280,359 (2025)
Annual Taxes
($1)
Tax Year
2024
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