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Forest Park 60130
7652 Madison Street
$750,000
● Land - Off Market

7652 Madison Street

FOREST PARK, IL 60130
bedrooms
Studio
bathrooms
0 Bath
$1,103,879
RealtyHop Estimate
52.26%
Since Jun 1, 2018
National-US
Primary Model

About This Property

150x125 on bustling Madison Street! Located in the heart of Forest Park's downtown business district, this property offers unlimited possibilities. Build up to four stories on this site or add on to the existing two-story solid masonry building that exists. The existing masonry building is handsomely outfitted as a fully equipped eatery + banquet rooms but could easily serve as retail, professional services or for a video gaming location (video gaming recently passed in Forest Park). 30+ parking spaces exists on the balance of the property plus an oversized two car garage. Located just 10 miles west of downtown near I290/294, the Blue Line, Oak Park and River Forest. New residential units being built nearby. See additional info for survey.
Unit Size
-
Days on Market
-
Land Size
-
Price per sqft
-
Property Type
Land
Property Taxes
$5,362
HOA Dues
-
Year Built
1947

Payment Calculator

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 3 years ago (MRED MLS #09385190)

Price History

Date / Event Date Event Price
May 7, 2018 Sold
Premium
Sold
Nov 9, 2016 Listed by Berkshire Hathaway HomeServices Chicago $724,999
Listed by Berkshire Hathaway HomeServices Chicago

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1947
  • Effective Year Built: 1947
  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Living Units: 24
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 3,125
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: F A CUMMINGS & COMPANYS MADIS
  • Land Acres: 0000000720
  • Standard Land Use Code: 1112
  • County Land Use Code: 3-91

Neighborhood

  • School District Name: Proviso Township High School District 209
  • Census Tract: 816000

Geography

  • District: 31
  • Parcel: 15-13-102-005-0000
  • Lot: 29
  • Meridian: SEC 13 TWN 39N RNG 12E
  • Municipality: PROVISO
  • Latitude: 41.8791
  • Longitude: -87.8163

    Address

  • Full Address: 7652 Madison St
  • Address - House Number: 7652
  • Address - Street Name: Madison
  • Address - Suffix Type: St
  • State: IL
  • City Name: Forest Park
  • Carrier Code: C007
  • 4-Digit Zip Code: 3073
  • Zip Code: 60130

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $3,534,025
  • Tax Rate Code Area: 31038

    Market Valuation

  • Market Total Value: $986,020
  • Market Land Value: $43,750
  • Market Improvement Value: $942,270

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $98,602
  • Assessed Land Value: $4,375
  • Assessed Improvements Value: $94,227

    Sales

  • Current Sale Contract Date: May 07, 2018
  • Current Sale Recording Date: May 08, 2018
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 68
  • Current Sale Input Document Number: 1812829405
  • Previous Sale Recording Date: Aug 01, 2006
  • Previous Sale Contract Date: Jul 10, 2006
  • Previous Sale Amount: $1,400,000
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Forest Park

Stats & Trends

Median Asking:

$349,950

Sale Price/ft²

$229

Below Asking

0.01%

Average Days on Market

43

Average Home Size

1183 ft²

Average Home Age

82.1 years

Currently For Sale

34 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

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MRED

Listed by: Beth Gomez, Berkshire Hathaway HomeServices Chicago
Last Updated: 3 years ago
Data Source: MRED, MLS# 09385190
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 7652 Madison Street built and last sold?
The property at 7652 Madison Street was built in 1947 and last sold on May 7, 2018 for $750,000.
How much is this home worth?
The estimated value of the home located at 7652 Madison Street is $0.
What are some comparable homes to 7652 Madison Street?
There are currently no comparable homes to 7652 Madison Street.
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