Three-Story Retail and Office
For Sale
Contact for pricing
1053 Lake St, Oak Park, IL 60301
Three-story building with three full-floor tenants and high visibility blocks to the CTA.
Property Size6,000 SF
Price / SF$308.33
Days on Market770
Property Features for 1053 Lake St
General Information
Standard status
Active
Size
6,000 SF
Property subtype
RETAIL
Occupancy
100%
Building Details
Stories
3
Tenancy
Multi
Listing Agency:
SVN | Chicago - Corporate
(312) 676-1866
Listed By:
Karen Kulczycki, CCIM
(630) 330-3352
Source:
Moodyscre
Added: Sep 19, 2024
Changed: Oct 25
Last Checked: Oct 28 at 12:27PM
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 - Corporate
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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.
This three-story retail and office building offers approximately 1,586 square feet and is fully occupied by three full-floor tenants.
Located at 1053 Lake St in the heart of downtown Oak Park, the property is described as having high visibility and being blocks to the CTA.
Located at 1053 Lake St in the heart of downtown Oak Park, the property is described as having high visibility and being blocks to the CTA.
Key Highlights
- ±1,586 SF three‑story retail and office building
- Three full‑floor tenants with 100% occupancy and full building leased
- Located in the heart of downtown Oak Park
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,281
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,665,620
$1.7M
Cap Rate 7%
$1,189,729
$1.2M
Cap Rate 9%
$925,344
$925.3K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$129.6K $21.60/SF
− Vacancy
−$10.6K −$1.77/SF
EGI
$119.0K $19.83/SF
− OpEx
−$35.7K −$5.95/SF
NOI
$83.3K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,665,620
Cap Rate 7%
$1,189,729
Cap Rate 9%
$925,344
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.39M
NOI $83,281 @ 7.0% cap · market cap 4.50%
Second Best
Office B
$1.18M
$1.03M – $1.38M
NOI $82,730 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $145,007 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,150
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Three-story building with three full-floor tenants and high visibility blocks to the CTA.
Where is this retail space located?
The property is located at 1053 Lake St Oak Park, IL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: ±1,586 SF three‑story retail and office building; Three full‑floor tenants with 100% occupancy and full building leased; Located in the heart of downtown Oak Park
