4231 W Madison Street Chicago, IL ^$ 650,000

4231 W Madison Street

^$ 650,000

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4231 W Madison Street

Chicago, IL, 60624

^$ 650,000

Bedrooms-- Baths-- Sq 10,500

Monthly Estimate*

^$ 4,055

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Commercial Property for sale in Chicago, IL

for $650,000. This 10,500 square foot building was built in 1908 on a lot size of 0.14348.

This expansive 10,500 square foot mixed-use commercial property presents an outstanding opportunity for investors, developers, or business owners seeking strong income potential and low operating costs in a high-traffic area. The main level features a prominent, wide-open storefront with excellent visibility-perfect for retail, showrooms, or hospitality concepts. Its open layout allows for flexible customization to suit a variety of business needs. The upper levels offer incredible potential for office use, creative studios, or even residential conversion-creating multiple income streams under one roof. Whether you're seeking a value-add investment, a high-performing asset, or a signature location for your business, this property delivers. Schedule a private tour today and explore the potential!

Commercial Active

Price

^$ 650,000

Property Type

Commercial

Taxes

^$ 4,958

Style

Lot Size

0.14348

Year Built

1908

Town/City

Chicago

County/Region

Cook

MLS | Web ID

12409857

Features

General

Cooling Central Air

Construction Materials Brick

Year Built 1908

Electric Service - 201 to 600 Amps Power - 240V Three Phase

Stories Count 3

Property Subtype Mixed Use

Tax Year 2023

Gross Income 0

County Cook

Insurance Expense 0

Property Type Commercial Sale Mixed Use

Status Active

Directions Take I-290 West exit at Central Avenue then head south turn right (west) onto Madison Street and continue to 4231 W Madison St in Chicago's West Garfield Park

City Chicago

Number Of Units Total 6

MLS Area CHI - West Garfield Park

Lot Size Square Feet 6250

Tax Annual Amount 4958.16

Electric Expense 600

Fuel Expense 0

Trash Expense 0

Water Sewer Expense 35

Additional Parcels Y/N N

Virtual Tour https://clickopoly.com/4231_w_madison_st

Standard Status Active

Exterior

Foundation Details Concrete Perimeter

Building Area Total 10500

Lot Dimensions 50 X 125

* Excluded Features

List By

Keller Williams Preferred Rlty

Broker

transactionsmanager@mattzmegagroup.com

Affordability Calculator

$4,468

Per Month

Monthly Principal & Interest: $4,055
Monthly Property Taxes: $413
Monthly Home Insurance: --

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Down Payment

Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Chicago, IL

Average List Price ^$987,651

Percent of Sale Price 52%

About Chicago, IL

2,755,380 Population

-4% Since 2002

^$53,088 Median Income

36.07 Median Age

25% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

565567 Elementary School

567955 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
10/9/2025	$650,000	-3.70%	Price Down
7/3/2025	$675,000		Listed Price

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4231 W Madison Street, Chicago, IL, 60624 is a Commercial Property for sale at $650,000 with 10,500 sqft and a lot size of 0.14348. 4231 W Madison Street was built in 1908. The property's zip code is 60624 which is in Chicago, IL

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than Weichert Realtors are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Data is updated as of 12/8/2025.

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4231 W Madison Street

Commercial Property for sale in Chicago, IL

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