Three-Story Retail and Office
1053 Lake St Oak Park, IL 60301
For Sale
Contact for pricing
Three-story building with three full-floor tenants and high visibility blocks to the CTA.
Property Size6,000 SF
Price / SF$325
Days on Market679
Property Features for 1053 Lake St
General Information
Standard status
Active
Size
6,000 SF
Property subtype
RETAIL
Listing Agency:
SVN | Chicago - Corporate
(630) 330-3352
Listed By:
Karen Kulczycki, CCIM
(630) 330-3352
Source:
Moodyscre
Added: Sep 19, 2024
Changed: Jul 25
Last Checked: Jul 25 at 9:24AM
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
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 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 | $129.6k | $21.60 |
| − Vacancy | −$10.6k | −$1.77 |
| EGI | $119.0k | $19.83 |
| − OpEx | −$35.7k | −$5.95 |
| NOI | $83.3k | $13.88 |
6,000 SF · lease $21.60/SF/yr · vacancy 8.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.39M
NOI $83,281 @ 7.0% cap · market cap 4.27%
Second Best
Office B
$1.18M
$1.03M – $1.38M
NOI $82,730 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $145,007 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
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 $1,950,000.
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
