Mixed-Use Property with
For Sale
$2,350,000
113-115 N Marion Street Oak, Oak Park, IL 60301
The building contains retail units alongside second-floor office suites of varying sizes.
Property Size9,737 SF
Days on Market253
Property Features for 113-115 N Marion Street Oak
General Information
Standard status
Active
Size
9,737 SF
Class
B
Property subtype
Executive/Shared Suites
Site & Location
Frontage
43 ft
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Floor
2
Office Units
14
Building Details
Building Size
9,737 SF
Year Built
1920
Tenancy
Multi
Properties For Sale
at 113-115 N Marion Street Oak
Suite 1
Size
290 SF
Lease Type
NNN
Listing Agency:
SVN | Chicago Commercial
Listed By:
Karen Kulczycki
(312) 602-5346
Source:
Thebrokerlist
Added: Feb 18
Changed: Oct 26
Last Checked: Oct 28 at 4:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN | Chicago Commercial
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1920, 113-115 N. Marion Street is a mixed-use commercial property with 43 feet of retail frontage along Marion Street. The building contains two retail units and 14 second-floor office suites, offering a combination of customer-facing and professional workspace components.
The property is situated in downtown Oak Park, 9 miles west of the Chicago Business District. Nearby transportation options include I-290, I-294, the Oak Park Metra Station, the CTA Green Line, and multiple bus routes. The location also carries a Walker’s Paradise Walk Score and serves an area described as a shopping and dining destination for local residents and tourists.
The property is situated in downtown Oak Park, 9 miles west of the Chicago Business District. Nearby transportation options include I-290, I-294, the Oak Park Metra Station, the CTA Green Line, and multiple bus routes. The location also carries a Walker’s Paradise Walk Score and serves an area described as a shopping and dining destination for local residents and tourists.
Key Highlights
- 43 feet of retail frontage on Marion Street
- Two retail units within the mixed‑use building
- 14 office suites located on the second floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$164,312
Cap Rate
6.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,286,240
$3.3M
Cap Rate 7%
$2,347,314
$2.3M
Cap Rate 9%
$1,825,689
$1.8M
Market Conditions
NOI Build-Up for 9,737 SF
Gross rent
$292.1K $30.00/SF
− Vacancy
−$29.2K −$3.00/SF
EGI
$262.9K $27.00/SF
− OpEx
−$98.6K −$10.13/SF
NOI
$164.3K $16.88/SF
Area
Cook County, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,286,240
Cap Rate 7%
$2,347,314
Cap Rate 9%
$1,825,689
Alternative Uses
Best Use
Mixed Use
$2.35M
$2.05M – $2.74M
NOI $164,312 @ 7.0% cap · market cap 6.99%
Second Best
Retail
$1.93M
$1.69M – $2.25M
NOI $135,151 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$3.36M
$2.94M – $3.92M
NOI $235,322 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
14
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,065
Businesses Nearby
Explore this area
Business Placement
Demographics for 60301, IL
3,043
Population
2,129
Households
1.4
Avg Household Size
37
Median Age
79%
College-Educated
99%
High-School Grad
0.2 sq mi
ZIP Area
15,215
Density / Sq Mi
$103,448
Median Household Income
$77,900
Median Earnings
$2,295
Median Rent
$230,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The building contains retail units alongside second-floor office suites of varying sizes.
Where is this mixed-use property located?
The property is located at 113-115 N Marion Street Oak Oak Park, IL.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 43 feet of retail frontage on Marion Street; Two retail units within the mixed‑use building; 14 office suites located on the second floor
