This Multifamily Property is no longer advertised on LoopNet.com.

3121 W Madison St
Chicago, IL 60612
96 Units - Madison Terrace · Multifamily Property For Sale · 96 Units

Investment Highlights

  • 83% of Units Leased via Subsidized Programs
  • Ideal Unit Mix with Large Two, Three and Four Bedroom Layouts
  • Potential to Assume Attractive Loan at 2.81%
  • Proven Value Add Opportunity - Rehabbed Units Experiencing 20% Increase in Rent
  • Immediate Scale in High Demand Near-West Submarket
  • Class 9 Tax Status Resulting in Reduced Real Estate Taxes

Property Facts

No. Units 96
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 3.90 AC
Building Size 54,200 SF
Average Occupancy 95%
No. Stories 3
Year Built/Renovated 1983/2021
Parking Ratio 1.38/1,000 SF
Zoning PD

Amenities

Unit Amenities

  • Balcony
  • Cable Ready
  • Storage Space
  • Kitchen
  • High Speed Internet Access
  • Refrigerator
  • Oven

Site Amenities

  • 24 Hour Access
  • Laundry Facilities
  • Property Manager on Site
  • Smoke Free
  • Storage Space

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 48 - 1,050
3+2 43 - 1,200
4+2 5 - 1,500

Property Taxes

Property Taxes

Parcel Numbers
Multiple
  • 16-13-100-063-0000
  • 16-13-100-027-0000
  • 16-13-100-064-0000
Land Assessment
$63,298
Improvements Assessment
$25,277
Total Assessment
$88,575
  • Listing ID: 25545560

  • Date on Market: 4/25/2022

  • Last Updated:

  • Address: 3121 W Madison St, Chicago, IL 60612

Link copied
Your LoopNet account has been created!

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, "rating") }}
255 character limit ({{ remainingChars() }} charactercharacters remainingover)
{{ getErrorText(feedbackForm.msg, "rating") }}
{{ getErrorText(feedbackForm.fname, "first name") }}
{{ getErrorText(feedbackForm.lname, "last name") }}
{{ getErrorText(feedbackForm.phone, "phone number") }}
{{ getErrorText(feedbackForm.phonex, "phone extension") }}
{{ getErrorText(feedbackForm.email, "email address") }}