Essex Seeking Buyer For West Loop Mixed-Use Building

Chicago-based multifamily brokerage firm Essex Realty Group, Inc. has been selected to exclusively market for sale 1041 W. Madison Street, a new construction four-unit mixed-use building located in the heart of Chicago’s highly sought-after West Loop neighborhood.

Listed for $2,349,000, this apartment building is comprised of one street level commercial space, three large 3 bed/3 bath apartment units, two garage parking spaces and three additional exterior parking spaces. The apartments are spacious and each unit features hardwood floors, stainless steel appliances, quartz countertops, dishwasher, built-in microwave, in-unit laundry, front and rear balconies. Plus, the top floor unit has access to a private rooftop deck.

The apartments are fully occupied, and the first-floor commercial space is leased through 2025 to a high end tobacco shop with several other successful locations throughout the city. The property sits in a prime, highly walkable location along the Madison Street commercial district.

“This is a phenomenal, and rarely available, opportunity to acquire a fully stabilized, boutique investment property in Chicago’s most rapidly growing West Loop neighborhood,” explained Essex director and listing broker Matt Feo.

1041 W. Madison Street is situated on the south side of Madison Street, just steps from many of the West Loop’s famous restaurants located along Madison and Randolph. The property is also conveniently located within one-half mile of the Morgan Green and Pink Line CTA Station. An investor has the opportunity to acquire an ideally located West Loop apartment building with a desirable unit mix.