105 W. Madison
Quick Summary
- Price
- $21,000,000
- Property Type:
- Office, Office building
- Listing Type:
- Sale
- Area:
- 122676 sq ft
- Property use
- This is an investement Property
- Construction status
- Existing
- Cap rate
- 7.3%
Property Description
Great opportunity to acquire a value add opportunity in the central business district. Across the street from chase tower. The offering includes floors 3-25 as well as the fully rented food court located below grade and half of the second floor. The property has great tenants including NIU. A true Trophy property.
RENOVATIONS IN PROGRESS
Modern renovation of all elevator cabs.
Fully gutted brand new bathrooms on all floors.
Flooring and lighting upgrade in common areas.
Modernization of the HVAC system.
On-site Retailers include:
Bank of America (located in building lobby), Dunkin Donuts, Americash Loans, Flower Shop & Hair/Nail Salon/Shoe Shine.
Unbelievable location.
Restaurants.
Court house is a 3 minute walk away.
Famous State Street Shopping within walking distance.
Public transportation on the same block.
Five parking garages within a three block radius.
Millennium Park is a five minute walk away.
Location Description
Financial Summary (Actual)
Year/2015
Operating Expenses $784,390
Scheduled Gross Income $2,307,572
Net Operating Income $1,523,183
