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    3200 Oak Park Ave Berwyn, IL 60402

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    Sponsored
    For Lease
    Contact for pricing

    COMMERCIAL - Berwyn, IL

    Type:Office
    Days on Market:
    146
    Last Refresh:
    Mar 12 at 12:06 am

    Property Features for 3200 Oak Park Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    Zoning
    OFFIC

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    2010
    Floors in Building
    4
    Building materials
    Brick

    We can help!

    Listing Contact
    Alonzo Abron Jr

    A. Progeny Global (708) 829-0511

    Listing agent Alonzo Abron Jr (708) 829-0511

    Listing date Oct 18, 2025

    MLS# 12489753

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Prime Berwyn Retail/Office Space

    Located at 3200 S Oak Park Ave, Berwyn, IL 60402, ReVerb Century Station offers retail and office spaces for lease. This modern, mixed-use construction features 11,000 sq. ft. of ground-floor commercial space within a 52-unit luxury apartment community. Situated in the heart of Berwyn's Depot District, the property is directly across from the Berwyn BNSF Metra Station and near Loyola Medicine, providing high foot traffic and commuter visibility. The location is ideal for retail or professional office users. The available spaces feature Class-A finishes and modern infrastructure, with flexible configurations suitable for medical, boutique retail, or professional tenants. The on-site luxury apartments ensure a built-in customer base. Heated underground garage and outdoor parking are available for tenants and visitors. The property is surrounded by amenities, including restaurants, cafes, and nightlife. Excellent signage exposure is available along Oak Park Avenue. The Depot District is undergoing revitalization, attracting young professionals and healthcare workers. The location is particularly ideal for medical or wellness-related users, such as a physical therapy clinic, dental office, med spa, or primary care practice. Other recommended uses include a cafe, juice bar, boutique restaurant, financial or legal services, creative agency, tech startup, real estate office, salon, spa, or aesthetic studio. Berwyn boasts a growing professional demographic and a high retail spend rate. The location is 9 miles southwest of downtown Chicago with direct Metra access.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Berwyn
    County
    Cook
    State
    Illinois
    Longitude
    -87.793236
    Latitude
    41.834108

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    FAQs

    What type of property is this?
    Office units - Modern retail/office space in Berwyn's thriving Depot District.
    Where is this office units located?
    The property is located at 3200 Oak Park Ave Berwyn, IL.
    What are key features of this property?
    This property features: - Prime location directly across from the Berwyn BNSF Metra station, providing exceptional commuter visibility and access to downtown Chicago.; - Newer mixed-use construction with Class-A finishes and modern infrastructure.; - Built-in customer base from 52 luxury apartments located above the commercial space, ensuring consistent foot traffic.
    (708) 829-0511
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    3200 Oak Park Ave Berwyn, IL 60402
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3200 Oak Park Ave Berwyn, IL 60402
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    We can help!
    Listing Contact
    Alonzo Abron Jr
    Real Estate License ID: 471011313
    (708) 829-0511 (708) 629-0935
    Learn more
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