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Mario Bilotas

mario@fourdaughtersrealestate.com +1(847) 910-5022

$ 2,999,000

Est. payment -/mo

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7321 Madison ST Forest Park, IL 60130

21,000 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Retail/Stores

Listing Status Active

Purchase Type For Sale

Square Footage 21,000 sqft

Price per Sqft $142

MLS Listing ID 12591220

Year Built 1926

Annual Tax Amount $148,543

Tax Year 2024

Lot Dimensions 118X86

Property Sub-Type Retail/Stores

Property Description

Positioned on a prime corner along Forest Park's highly active Madison Street corridor, 7321 Madison Street presents a rare opportunity to acquire a 21,000 square foot mixed-use commercial asset with exceptional visibility, scale, and infrastructure. The property features distinctive brick construction with frontage on both Madison Street and Circle Avenue, offering strong identity and accessibility. The building supports a mix of restaurant, entertainment, retail, and office uses, while also providing flexibility for repositioning or adaptive reuse depending on ownership strategy. Approximately 6,800 square feet is currently available, presenting a compelling opportunity for an owner-user to occupy a significant portion of the building while benefiting from in-place income, or for an investor to lease up the vacancy and increase overall cash flow and value. A defining feature of the asset is its robust electrical infrastructure, delivering in excess of 1,200 amps of electrical service capacity. This level of service significantly expands the universe of viable users and positions the property for power-intensive operations that are typically difficult to accommodate in comparable suburban assets. This infrastructure, combined with the building's size and layout, makes the property suitable for a wide range of commercial applications, including entertainment and event venues, restaurant and hospitality concepts, medical and healthcare uses such as outpatient clinics, physical therapy, imaging, and specialty practices, fitness and wellness facilities, technology and data-oriented users, production and light industrial-style uses, creative office or showroom concepts, educational or training facilities, and specialty retail or experiential concepts. Located just west of Harlem Avenue, the property sits in the core of Forest Park's dining and entertainment district, surrounded by established restaurants, bars, and neighborhood retail. The area continues to benefit from strong consumer traffic, ongoing reinvestment, and excellent regional connectivity via CTA Blue and Green Lines, Metra, Pace, and immediate access to I-290. This is a unique opportunity to acquire a scalable, infrastructure-rich asset in a supply-constrained suburban downtown with multiple pathways for value creation. Owner/ Listing Broker holds a Real Estate License in IL.

Location

State IL

County Cook

Area Forest Park

Interior

Cooling Central Air

Flooring Wood

Fireplace N

Building

Dwelling Type Retail/Stores

Structure Type Brick,Wood

Listed by Ariel Marini of Berkshire Hathaway HomeServices Chicago

Nearby School & Business

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MY BLOGS

Vacant Land Scams are REAL

About 6 months ago, I received an email from (let’s call him) Charlie. A “nothing out of the ordinary” email from a common (and mildly validating) charlie…..@hotmail stating: “I have owned the lot for many years, but a couple of years ago I moved from Illinois to California, and I would like to sell

THE FRONT PORCH SWING

Oh, the memories. I remember my girls spending countless hours swinging front to back and side to side, hanging out with the neighborhood kids, splashing with the water hose, or crafting top-secret plans with their imaginations. It was awesome. How times have changed. With my two youngest girls slow

less is more, unless, it’s for less.

I hated looking for matching socks. Every day, my job required me to remove shoes at nearly every doorstep, and matching my socks was a daily frustration. Each day, I’d get my MLS home showing sheets ready, the electronic key card that opens lock-boxes, get dressed with minutes turning into seconds

Contact Us

Phone

+1(847) 910-5022

mario@fourdaughtersrealestate.com

Address

205 W. Miner Street, Arlington Heights, IL, 60005, USA