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3121 W Madison St
Chicago, IL 60612
96 Units - Madison Terrace · Multifamily Property For Sale
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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 | Building Size | 54,200 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built/Renovated | 1983/2021 |
| Building Class | C | Parking Ratio | 1.38/1,000 SF |
| Lot Size | 3.90 AC | ||
| Zoning | PD | ||
| 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
| Parcel Numbers | Improvements Assessment | $25,277 | |
| Land Assessment | $63,298 | Total Assessment | $88,575 |
Property Taxes
Parcel Numbers
Land Assessment
$63,298
Improvements Assessment
$25,277
Total Assessment
$88,575
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