150x125 on bustling Madison Street! Located in the heart of Forest Park's downtown business district, this property offers unlimited possibilities. Build up to four stories on this site or add on to the existing two-story solid masonry building that exists. The existing masonry building is handsomely outfitted as a fully equipped eatery + banquet rooms but could easily serve as retail, professional services or for a video gaming location (video gaming recently passed in Forest Park). 30+ parking spaces exists on the balance of the property plus an oversized two car garage. Located just 10 miles west of downtown near I290/294, the Blue Line, Oak Park and River Forest. New residential units being built nearby. See additional info for survey.
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The Forest Park community is one of Chicago’s best suburbs and attracts many residents due to its close proximity to the city and the access to public transportation to CTA Trains , Metra Trains, and Pace Buses . Click here to read more.
*Private mortgage insurance is an insurance policy that a residential mortgage lender requires of the borrower if the loan-to-value (LTV) ratio of the home is greater than 80%. Mortgage insurance protects the lender from the risk that the borrower may default on the loan. Federal law requires lenders to notify borrowers when the loan-to-value ratio drops below 80%. Mortgage insurance premiums vary, but generally range from $1,000 to $5,000 a year for an average priced home.
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