Oak Park Office/Retail
For Sale
$1,350,000
6142-6144 W Roosevelt Rd, Oak Park, IL 60304
9,000 SF office and retail building in Oak Park.
Property Size9,000 SF
Price / SF$150
Days on Market271
Property Features for 6142-6144 W Roosevelt Rd
General Information
Standard status
Active
Size
9,000 SF
Class
C
Property subtype
Office
Building Details
Building Size
9,000 SF
Year Built
1955
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
Changed: Aug 8
Last Checked: Aug 19 at 6:37AM
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 Oak Park, Illinois, this two-story office building offers approximately 9,000 square feet of space with street-level retail. The building contains 16 units and is currently 14% occupied. The property benefits from high visibility due to its frontage on Roosevelt Road, which sees approximately 17,000 vehicles per day. Adjacent to city-owned parking, the building is located near destination retailers such as Peace & Joy Within Yoga Studio and Acuwerks. The location provides convenient access to the broader Chicago metropolitan area via nearby I-290, I-294, the CTA Green Line, and multiple bus routes. The Austin CTA Blue Line station is also in close proximity. Oak Park is a shopping and dining destination for both tourists and local residents. The 0.12-acre site offers flexible retail, office, and medical office suites of various sizes.
Key Highlights
- High visibility location on Roosevelt Road (17,000 VPD).
- Located in Oak Park, an upscale shopping and dining destination near Chicago.
- Adjacent to city‑owned parking.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$124,095
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,481,900
$2.5M
Cap Rate 7%
$1,772,786
$1.8M
Cap Rate 9%
$1,378,833
$1.4M
Market Conditions
NOI Build-Up for 9,000 SF
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.
Gross rent
$220.3K $24.48/SF
− Vacancy
−$54.9K −$6.10/SF
EGI
$165.5K $18.38/SF
− OpEx
−$41.4K −$4.60/SF
NOI
$124.1K $13.79/SF
Area
Cook County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,481,900
Cap Rate 7%
$1,772,786
Cap Rate 9%
$1,378,833
Alternative Uses
Best Use
Retail
$1.78M
$1.56M – $2.08M
NOI $124,921 @ 7.0% cap · market cap 9.25%
Second Best
Office B
$1.77M
$1.55M – $2.07M
NOI $124,095 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$3.11M
$2.72M – $3.63M
NOI $217,510 @ 7.0% cap · market cap 16.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,070
Businesses Nearby
Explore this area
Business Placement
Demographics for 60304, IL
17,842
Population
6,842
Households
2.6
Avg Household Size
38
Median Age
73%
College-Educated
97%
High-School Grad
1.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$132,841
Median Household Income
$76,027
Median Earnings
$1,279
Median Rent
$470,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 9,000 SF office and retail building in Oak Park.
Where is this office building located?
The property is located at 6142-6144 W Roosevelt Rd Oak Park, IL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: High visibility location on Roosevelt Road (17,000 VPD).; Located in Oak Park, an upscale shopping and dining destination near Chicago.; Adjacent to city‑owned parking.
