Oak Park Retail and
113-115 N Marion Street Oak Park, IL 60301
113-115 N Marion Street, Oak Park, IL, 60301
$2,350,000
For Sale
$2,350,000
9,737 SF retail and office building in downtown Oak Park.
Property Size9,737 SF
Price / SF$241.35
Days on Market243
Property Features for 113-115 N Marion Street
General Information
- Standard status
- Active
- Size
- 9,737 SF
- Property subtype
- Office
Building Details
- Year Built
- 1920
Listing agency
SVN Chicago Commercial
(630) 330-3352
Listed by
Karen Kulczycki, CCIM, SIOR · License #IL #471020279
(630) 330-3352
Source
Svnchicago
Added: Nov 21, 2025 Updated: Jul 6 at 8:27AM Checked: Jul 22 at 5:05AM
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
Investment Insights
Based on property information with market context.
Located in the heart of downtown Oak Park, this property at 113-115 N. Marion Street presents a value-add investment opportunity. The building features 43 feet of retail frontage and comprises two retail units along with 14 office suites on the second floor. The property has a Walk Score that designates it as a Walker's Paradise. Situated in close proximity to I-290, I-294, the Oak Park Metra Station, the CTA Green Line, and various bus routes, the location benefits from convenient access to the Chicago metropolitan area. The property is located in Oak Park, an upscale community located 9 miles west of the Chicago Business District. The 9,737 square feet of retail and office space sits on a 0.14-acre lot. The property is located steps from the Metra station at a signalized intersection. The building is 95% leased and surrounded by diverse retail and dining options.
Key Highlights
- Prime location in the heart of downtown Oak Park, a desirable and upscale community.
- Excellent transportation access with nearby I‑290, I‑294, Oak Park Metra Station, CTA Green Line, and multiple bus routes.
- High Walk Score, indicating a Walker's Paradise.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $210.3k | $21.60 |
| − Vacancy | −$17.2k | −$1.77 |
| EGI | $193.1k | $19.83 |
| − OpEx | −$57.9k | −$5.95 |
| NOI | $135.2k | $13.88 |
9,737 SF · lease $21.60/SF/yr · vacancy 8.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.93M
$1.69M – $2.25M
NOI $135,151 @ 7.0% cap · market cap 5.75%
Second Best
Office B
$1.92M
$1.68M – $2.24M
NOI $134,257 @ 7.0% cap · market cap 5.71%
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 Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - 9,737 SF retail and office building in downtown Oak Park.
Where is this retail space 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 desirable and upscale community.; Excellent transportation access with nearby I‑290, I‑294, Oak Park Metra Station, CTA Green Line, and multiple bus routes.; High Walk Score, indicating a Walker's Paradise.
