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2931 West Madison StreetChicago, IL 60612Price: $285,000

  • Price: $285,000
  • 229 Days on Market
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Federal 30-year interest rate: 6.49% last updated on Jun 25, 2026
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $285,000List Price
  • 1899Year Built
  • 3,000Square Feet

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Solid brick commercial building of approximately 3,000+ SF covering the entire lot. The property features storm shutters protecting the storefront facade. The interior is currently framed for two offices with two (2) roughed in washrooms. The building is set up for 400 AMP service (electric line at the pole recently cut, copper stolen, and will need reconnection). The building currently has no power - you must bring a flashlight for showings. The structure will require significant tuckpointing and masonry work. Many coping stones at the roofline are missing. A new HVAC system will be needed. A section of the wood floor needs to be replaced. The property is located within a Federal Opportunity Zone, providing potential tax incentives and accelerated depreciation for qualified improvements. The condition of the property is reflected in the price. This is an "AS IS" sale. This is an excellent opportunity for an investor, contractor, or owner-user seeking a value-add project.

Property Details of 2931 West Madison Street

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Listed by Bruce Heller of Coldwell Banker Realty

Based on information submitted to MRED  as of June 29, 2026 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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