720 Lake St Oak Park, IL 60301

This fully leased multi-tenant building is an investment opportunity located in downtown Oak Park. Situated along the highly trafficked Lake St commercial corridor near Oak Park Ave, the property is surrounded by numerous restaurants, shops, small businesses, and a dense residential population. The 5,600 square foot building features a tenant mix in the medical and professional services industries. The tenants 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. The building is professionally managed. Recent capital improvements include work to the parking lot in 2020 and plumbing in 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 zoning provides flexibility to future commercial tenants as well as the ability to adapt the 2nd floor to a residential use if so desired. The property provides a diversified and growing income stream in a desirable area of Oak Park.