Oak Park Retail and
113-115 N Marion Street, Oak Park, IL 60301
Value-add investment opportunity in downtown Oak Park with high visibility.
Type:Office
Property size:
9,737 SFLot size:
0.14 AcresPrice / SF:
$241/SF- Added:
- Mar 6, 2026
- Days on Market:
- 71
- Last Refresh:
- Apr 6 at 12:15 am
Property Features for 113-115 N Marion Street
General Information
- Standard status
- Active
- Size
- 9,737 SF
- Lot size
- 0.14 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1920
Listing agent Karen Kulczycki, CCIM, SIOR License #IL #471020279 (630) 330-3352
Listing office (630) 330-3352
Listing date Mar 6, 2026
Source Svn
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 Karen Kulczycki, CCIM, SIOR
HighLights
- Prime location in the heart of downtown Oak Park, a shopping and dining destination.
- Excellent transportation access: steps to Metra, near I‑290, I‑294, CTA Green Line, and multiple bus routes.
- High Walk Score (Walker's Paradise) indicating exceptional walkability.
- Value‑Add investment opportunity with 2 Retail Units and 14 Office Suites.
- High visibility with 43' of retail frontage on N. Marion Street.
- 96% Leased, providing immediate income.
Overview
This investment opportunity is located in downtown Oak Park, approximately 9 miles west of the Chicago Business District. The property includes approximately 9,737 square feet of retail and office space on 0.14 acres. It features 43 feet of retail frontage. The building contains two retail units and 14 office suites on the second floor. The property is currently 96% leased. The location has a high walk score and is near I-290, I-294, the Oak Park Metra Station, the CTA Green Line, and multiple bus routes, providing access to the Chicago metropolitan area. The surrounding area includes diverse retail and dining options. The property is located steps from the Metra station at a signalized intersection, offering high visibility and frontage on N. Marion Street.
Financial Insights
Value Estimation Calculated for Mixed Use
Conservative
$1.83M
NOI $164,312 @ 9.00% cap · cautious / downside scenario
Moderate
$2.35M
NOI $164,312 @ 7.00% cap · market / base-case scenario
Aggressive
$3.29M
NOI $164,312 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Mixed Use
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $292.1k | $30.00 |
| − Vacancy | −$29.2k | −$3.00 |
| EGI | $262.9k | $27.00 |
| − OpEx | −$98.6k | −$10.13 |
| NOI | $164.3k | $16.88 |
9,737 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Use Scenarios
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 local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Oak Park
- County
- Cook
- State
- Illinois
- Longitude
- -87.8027
- Latitude
- 41.8862
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Value-add investment opportunity in downtown Oak Park with high visibility.
Where is this mixed-use property located?
The property is located at 113-115 N Marion Street 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: Prime location in the heart of downtown Oak Park, a shopping and dining destination.; Excellent transportation access: steps to Metra, near I‑290, I‑294, CTA Green Line, and multiple bus routes.; High Walk Score (Walker's Paradise) indicating exceptional walkability.
