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Date
Details
Price
Change
Source
11/17/2025
Listed
$825,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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1/18
$825,000
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1/18
Property Description
Presenting a fully leased multi-tenant investment opportunity in downtown Oak Park. The property is situated along the highly trafficked Lake St commercial corridor near Oak Park Ave and is surrounded by numerous restaurants, shops, small businesses, and a dense residential population. The building is comprised of a well-insulated tenant mix in the medical and professional services industries who have been in place for an average of 6 years. Three of the four leases have an annual rent increase of 3-5 percent throughout the remaining term as well as any option periods providing a growing income stream. The building is professionally managed and recent capital improvements include work to the parking lot (2020) and plumbing (2019). The property is zoned DT-2, which allows for a myriad of commercial uses as well as residential uses above the ground floor. This advantageous zoning lends the property flexibility to future commercial tenants as well as the ability to adapt the 2nd floor to a residential use if so desired. Simply put, this offering represents a professionally managed building providing a diversified and growing income stream in a highly desirable area of Oak Park.
Full Property Details
Full Property Details for MLS# 12518349
General
- Price: $825,000
- Taxes: $32,885 (2023)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12518349
- Updated: 11/25/2025
- Added to Site: 60 day(s) ago
Interior
- Interior Features: Freight Elevator(s), Multi-Tenant, Private Restroom(s), Storage Inside, Basement
Additional Information
- Security/Safety: Fire Extinguisher(s), Smoke or Fire Protectors
Location
- Area: Oak Park
- County: Cook
- Township: Oak Park
- Driving Directions: Lake St East of Oak Park Ave
- Location Details: Far West
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Central Heat/Individual Controls, Forced Air, Gas
Utilities
- Water: Municipal Water
- Trash: 687
- Onsite: Electricity to Site, Natural Gas Available, Cable Available
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Foundation: Concrete Perimeter
- Roof: Reflective Coating, Other
- Stories/Levels: 2
- Square Feet: 5,600
- Current Bldg. Use: Commercial
- # of Stores: 1
- Year Built: 1929
- Built Before 1978: Yes
Unit Information
- # Tenants: 4
Lot Features
- Lot Size (Sq. Ft.): 5,600
- Lot Dimensions: 37.5 x 147.29
- Frontage: City Street
- Potential Use: Commercial, Condominium, Office, Retail
- Zoning: COMMR
Financial Considerations
- Lease Price: $23
- Insurance Fee: $5,276
- Operating Expenses: $67,726
- Other Fee: $22,329
- Security Deposit: Fire Extinguisher/s, Smoke or Fire Protectors
- Assessment Year: 1929
- Tax Amount: $32,885.39
- Tax Year: 2023
- Tenant Pays: Common Area Maintenance, Electricity, Heat, Janitorial Service, Taxes, Insurance, Repairs, Scavenger
- Pays Electric: 2889
- Pays Trash: 687
Disclosures and Reports
- Property ID: 16072180070000
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Schools
Schools serving MLS# 12518349
School Districts:Oak Park Elementary School District 97, Oak Park and River Forest District 200
| Name | Grades | Distance |
|---|---|---|
Oliver W Holmes Elementary School 508 North Kenilworth Avenue, Oak Park, IL 60302 | K-5 | 0.5 mi |
Gwendolyn Brooks Middle School 325 South Kenilworth Avenue, Oak Park, IL 60302 | 6-8 | 0.5 mi |
Oak Park & River Forest High School 201 North Scoville Avenue, Oak Park, IL 60302 | 9-12 | 0.3 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 MLS# 12518349
Estimate the Cost
Estimate the Cost for MLS# 12518349
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- Condo
- Active
- Updated 1 day ago
- 1Bed
- 1Total Bath
- 965Sq. Ft.
- Single Family
- Active
- Updated 1 day ago
- 7Beds
- 4Total Baths
- 3,700Sq. Ft.
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- Single Family
- Active
- Updated 1 day ago
- 4Beds
- 3Total Baths
- 1,442Sq. Ft.
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MLS# 12518349, Oak Park, IL 60301 (MLS# 12518349) is a Commercial property. MLS# 12518349 is currently listed for $825,000 and was received on November 17, 2025. Want to learn more about MLS# 12518349? 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.