Oak Park, IL 60301 • Commercial - Retail • Contingent $825,000

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.

Property Highlights