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1/23
7240 Madison Street, Forest Park, IL 60130
$625,000
7240 Madison Street, Forest Park, IL 60130View this property at 7240 Madison Street, Forest Park, IL 60130
7240 Madison StreetForest ParkIL60130
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Property Description
OWNER OF ARCHERY STORE IS RETIRING...Investment opportunity on vibrant Madison Street in the business district. Conscientious owner diligently maintained building and property. Street level storefront extends the entire lot. Second floor includes a huge sundrenched 2-bedroom apartment (1,700 sqft) and is easy to rent. An additional 1,725sqft on 2nd floor is currently part of commercial use. Attached deep 2 car heated garage and loads of storage. New boiler was installed on the 1st floor & furnace on the 2nd floor (2022). High visibility and lots of foot traffic. Currently, property is operating as a longtime archery store & range. Please contact listing agent for details and do not disturb clientele.
Full Property Details
Full Property Details for 7240 Madison St
General
- Price: $625,000
- Taxes: $15,834 (2021)
- Status: Active
- Type: Commercial
- MLS ID: 12040874
- Updated: 5/3/2024
- Added to Site: 12 day(s) ago
Interior
- Interior Features: Overhead Door(s), Storage Inside, Furnished Units Available
Additional Information
- Security/Safety: Alarm Monitored, Alarm on Site, Fire Extinguisher(s), Carbon Monoxide Detector(s)
Parking
- Parking Features: Common Parking
Location
- Area: Forest Park
- County: Cook
- Driving Directions: Madison Street, 1 block west of Harlem Avenue.
- Location Details: Chicago West, Central Business District, Mixed-Use Area, Public Transport Avail, High Traffic Area
Heating & Cooling
- Cooling Type: Central Air Conditioning, Window Unit(s)
- Heating Type: Electric, Forced Air, Gas, Hot Water, Radiators, Steam, Wall Unit, Operable Windows/Systems Vary-Call List Agt
Utilities
- Trash: 1160
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Stories/Levels: 1
- Square Feet: 7,425
- Current Bldg. Use: Commercial
- # of Stores: 1
- Year Built: 1914
- Built Before 1978: Yes
Lot Features
- Lot Size (Sq. Ft.): 3,750
- Lot Dimensions: 3750
- Frontage: City Street
- Potential Use: Commercial, Condominium, Office and Research, Retail
Financial Considerations
- Security Deposit: Alarm Monitored, Alarm On Site, Fire Extinguisher/s, Carbon Monoxide Detector(s)
- Assessment Year: 1914
- Tax Amount: $15,834.2
- Tax Year: 2021
- Tenant Pays: Electricity
- Pays Trash: 1160
Disclosures and Reports
- Property ID: 15132060320000
Listed by Michals Realty, Inc
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Schools
Schools serving 7240 Madison St
School Districts:Forest Park School District 91, Proviso Township Hsd 209
Rating | Name | Grades | Distance |
---|---|---|---|
Garfield Primary Elementary School
543 Hannah Ave, Forest Park, IL 60130 | PK-2 | 0.3 mi | |
925 Beloit Ave, Forest Park, IL 60130 | 3-5 | 0.7 mi | |
925 Beloit Ave, Forest Park, IL 60130 | 6-8 | 0.7 mi | |
807 S 1st Ave, Maywood, IL 60153 | 9-12 | 1.4 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 7240 Madison St
Date
Details
Price
Change
Source
4/27/2024
Listed
$625,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 7240 Madison St
Year
Property Taxes
Change
Tax Assessment
Change
2022
$16,670
5%
$46,510
—
2021
$15,834
3%
$46,510
—
2020
$15,430
15%
$46,510
22%
2019
$13,468
2%
$38,250
—
2018
$13,191
2%
$38,250
—
2017
$12,901
3%
$38,250
9%
2016
$12,571
2%
$35,079
—
2015
$12,374
2%
$35,079
—
2014
$12,140
7%
$35,079
—
2013
$11,383
3%
$35,196
—
2012
$11,040
—
$35,196
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 7240 Madison St
7240 Madison Street, Forest Park, IL 60130 (MLS# 12040874) is a Commercial property. 7240 Madison Street is currently listed for $625,000 and was received on April 27, 2024. Want to learn more about 7240 Madison Street? Do you have questions about finding other Commercial real estate for sale in Forest Park? You can browse all Forest Park real estate or contact a Coldwell Banker agent to request more information.