See all 69 photos
69 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$2,999,000
Est. payment /mo
21,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail/Stores
Listing Status Active
Purchase Type For Sale
Square Footage 21,000 sqft
Price per Sqft $142
MLS Listing ID 12591220
Year Built 1926
Annual Tax Amount $148,543
Tax Year 2024
Lot Dimensions 118X86
Property Sub-Type Retail/Stores
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.
Location
State IL
County Cook
Area Forest Park
Interior
Cooling Central Air
Flooring Wood
Fireplace N
Building
Dwelling Type Retail/Stores
Structure Type Brick,Wood
Read Less Info
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Ariel Marini of Berkshire Hathaway HomeServices Chicago