Address
7321 Madison Street, Forest Park, IL
Price
$ 2,999,000
Property Attributes
- MLS#12591220
- TypeCommercial
- Listing Status Active
- CountyCOOK
- CityForest Park
- AreaForest Park
- Zip60130
- StyleCommercial
- Year Built1926
- Taxes$ 148543
- Price$ 2,999,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage21000
- Lot Size0.234114 Acres
Data Source:
Midwest Real Estate Data (MRED)
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.
| Price History | |
|---|---|
| 3/17/2026 | Listed $2,999,000 |
General Features
| Cooling | Central Air |
|---|---|
| Construction Materials | Brick,Wood |
| Year Built | 1926 |
| Electric | Separate Meters |
| Tenant Pays | All Utilities |
| Stories Count | 3 |
| Property Subtype | Restaurant |
| Tax Year | 2024 |
| Current Use | Commercial |
| Assoc Fee Paid Per | Not Applicable |
| County | Cook |
| Net Operating Income | 235110 |
| Property Type | Commercial Sale |
| Status | Active |
| Directions | 290 to Harlem Ave North,West on Madison St |
| City | Forest Park |
| Number Of Units Total | 1 |
| MLS Area | Forest Park |
| Lot Size Square Feet | 10198 |
| Tax Annual Amount | 148543 |
| Additional Parcels Y/N | Yes |
| Leasable Area | 6800 |
| Lease Type | Modified Gross |
| Standard Status | Active |
| Property Type | Retail/Stores |
Interior Features
| Flooring | Wood |
|---|
Exterior Features
| Building Area Total | 21000 |
|---|---|
| Lot Dimensions | 118X86 |
| Frontage Type | City Street |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 60130
Price
Taxes
Year Built
Visits
Midwest Real Estate Data (MRED) All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than Berkshire Hathaway HomeServices Chicago - Michigan Avenue may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2026 All rights reserved.Based on information submitted to the MLS GRID as of September 25, 2026 9:52 PM UTC 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.
Data is updated as of September 25, 2026 9:52 PM UTC
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
