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$715,000

  • Sold
  • Closed
  • Commercial
  • 5,086 Sq. Ft.
  • 3 Parking Spaces
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Tremendous opportunity to lease 3770+ square feet of commercial office/retail space in the heart of the medical district of Oak Park. Prior use was an immediate care facility. It has 9 exam rooms, two kitchenettes, two bathrooms, offices, a spacious and gracious entrance/waiting area, basement storage and more. Almost ready to go for the right tenant. Residential tenant upstairs pays all utilities except property taxes on a lovely, remodeled 3 bedroom, 2 bath unit. BUILDING IS ALSO FOR SALE. Tenant on the second floor pays $2,025/month plus utilities. Exterior parking in the back. Projected cap rate at stabilization at asking is 12.27!!! ($100K projected NOI / $815000 = 12.27).

Full Property Details for 1000 Madison St

General

  • Sold For: $715,000
  • Taxes: $18,458 (2020)
  • Status: Closed
  • Type: Commercial
  • Source: MRED
  • MLS ID: 11659395
  • Added to Site: 1, 193 day(s) ago

Rental Information

  • Lease Terms: NEGOTIABLE

Additional Information

  • Security/Safety: Fire Extinguisher(s)

Parking

  • Total Spaces: 3
  • Parking Features: 1 to 5 Spaces

Location

  • Area: Oak Park
  • County: Cook
  • Driving Directions: East of Harlem Ave on Madison in Oak Park. Building is on the north side of the street on the corner of Home and Madison.
  • Location Details: East/West Corridor

Heating & Cooling

  • Cooling Type: Central Air Conditioning
  • Heating Type: Gas

Utilities

  • Onsite: Electricity to Site, Gas to Site

Structural Information

  • Construction: Brick
  • Exterior Const.: Brick, Glass
  • Roof: Membrane, Reflective Coating
  • Stories/Levels: 2
  • Square Feet: 5,086
  • Year Built: 1921
  • Built Before 1978: Yes

Unit Information

  • Units w/Refrigerators: 3
  • Units w/Range/Oven: 1
  • # Dryers: 1

Lot Features

  • Lot Size (Sq. Ft.): 5,952
  • Lot Dimensions: 5952
  • Potential Use: Commercial, Office and Research, Retail
  • Zoning: COMMR

Financial Considerations

  • Lease Price: $27
  • Operating Expenses: $23,000
  • Security Deposit: Fire Extinguisher/s
  • Assessment Year: 1921
  • Tax Amount: $18,458
  • Tax Year: 2020
  • Tenant Pays: Air Conditioning, Common Area Maintenance, Electricity, Heat, Janitorial Service, Insurance, Scavenger, Sewer

Disclosures and Reports

  • Property ID: 16073230380000

Listed by @properties Commercial
Sold by Non Member

Listing agent

— 1000 Madison St —

  • @properties Commercial

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NMLS#: 1598647

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with our affiliated lender
NMLS#: 1598647

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Schools serving 1000 Madison St

School Districts:Oak Park and River Forest District 200, Oak Park Elementary School District 97
NameGradesDistance
Abraham Lincoln Elementary School, Oak Park, IL
1111 South Grove Avenue, Oak Park, IL 60304
K-50.8 mi
Gwendolyn Brooks Middle School
325 South Kenilworth Avenue, Oak Park, IL 60302
6-80.2 mi
Oak Park & River Forest High School
201 North Scoville Avenue, Oak Park, IL 60302
9-120.9 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1000 Madison St

Date
Details
Price
Change
Source
4/04/2023
Sold
$715,000
-12.27%
MLS
10/24/2022
Listed
$815,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by @properties Commercial
Sold by Non Member

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Recent Sales near 1000 Madison St

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1000 Madison Street, Oak Park, IL 60302 (MLS# 11659395) is a Commercial property that was sold at $715,000 on April 04, 2023. Want to learn more about 1000 Madison Street? Do you have questions about finding other Commercial real estate for sale in Oak Park? You can browse all Oak Park real estate or contact a Coldwell Banker agent to request more information.