Unique Investment Opportunity: Iconic ESO Theater Property For Sale Welcome to a truly one-of-a-kind property in the heart of Chicago’s vibrant Austin neighborhood, right on the border of the Oak Park community. Currently home to the celebrated ESO Theater, this multi-functional space offers an extraordinary opportunity for entrepreneurs, artists, investors, and visionaries looking to own a dynamic commercial and residential property with built-in revenue potential. Property Highlights: Over 6,000 sq ft of mixed use commercial space Purpose-built for performing arts, events, music showcases, or creative studios Multiple performance areas with AV hook-ups for audio/visual integration Spacious kitchen area with multiple freezers – ideal for launching a restaurant, cafe, or catering business Several private offices, dressing rooms, and bathrooms for staff and guests Dedicated employee restroom in the kitchen area Zoned B3-2, offering extensive flexibility for various business types Licensed as a Public Place of Amusement and Performing Arts Venue Residential Income Potential: Two fully equipped apartments on the second level. One 3bed 1.5bath & one 2bed 1bath. Combined rental income potential of $3,000+ per month Income can cover the mortgage, allowing your business to flourish without financial strain Whether you’re a theater operator, restaurateur, creative collective, or investor seeking a cash-flow-positive property with deep community roots, this space delivers. Open commercial space and residential units, it’s a rare blend of function, flexibility, and financial upside. Don’t miss your chance to own a cornerstone building with unmatched potential.
Property Details
Price:
$415,000
MLS #:
MRD12662521
Status:
Active
Beds:
0
Baths:
0
Type:
Commercial
Neighborhood:
chiaustin
Listed Date:
May 31, 2026
Year Built:
1937
See this Listing
Schools
Interior
Cooling
Central Air
Flooring
Wood
Exterior
Construction Materials
Brick, Concrete
Roof
Rubber
Stories
2
Financial
Tax Year
2023
Taxes
$6,752
Map
Community
- Address5401 W Madison Street Chicago IL
- CityChicago
- CountyCook
- Zip Code60644
Market Summary
Current real estate data for Commercial in Chicago as of Jun 10, 2026
920
Commercial Listed
185
Avg DOM
$997,419
Avg List Price
Property Summary
- 5401 W Madison Street Chicago IL is a Commercial for sale in Chicago, IL, 60644. It is listed for $415,000
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Copyright 2026. All rights reserved.
5401 W Madison Street
Chicago, IL


