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    1148 Madison St Oak Park, IL 60302

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    For Sale
    $3,450,000

    Single tenant NNN ground lease with redevelopment potential.

    Property size:
    3,500 SF
    Lot size:
    0.85 Acres

    Property Features for 1148 Madison St

    General Information

    Size
    3,500 SF
    Lot size
    0.85 Acres

    Source: NAI Hiffman | Oakbrook Terrace Agent Adam Johnson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    NNN Ground Lease Opportunity

    This property features a single tenant ground lease, offering no landlord responsibilities. The corporate lease includes multiple lease options extending through 2040. The site presents strong redevelopment potential. It benefits from high traffic counts, with 34,800 vehicles per day on Harlem Avenue and 13,500 vehicles per day on Madison Street. The property is located within the MS Zoning (Madison Street Zoning District). The property size is 3,500 square feet.
    Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Florist, Prentiss Florist

    Location Insight

    • Map
    • Local Demand
    City
    Oak Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.8033421
    Latitude
    41.8798061

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    FAQs

    What type of property is this?
    Storefront property - Single tenant NNN ground lease with redevelopment potential.
    Where is this storefront property located?
    The property is located at 1148 Madison St Oak Park, IL.
    What is the asking price?
    The asking price for this property is $3,450,000.
    What are key features of this property?
    This property features: - High traffic counts: **34,800 VPD on Harlem Avenue & 13,500 VPD on Madison Street**; - Strong re-development potential; - Multiple lease options through 2040
    (630) 932-1234
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1148 Madison St Oak Park, IL 60302
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