Brick-and-Steel Flex
For Sale
$525,000
268 Madison Street, Oak Park, IL 60302
Office areas, overhead doors, a commercial hood, and a six-stall garage support varied commercial configurations.
Property Size4,400 SF
Price / SF$119.32
Days on Market121
Property Features for 268 Madison Street
General Information
Standard status
Active
Size
4,400 SF
Property subtype
COMMERCIAL
Additional Details
Drive-In Doors
2
Taxes and HOA fees
Annual Taxes
$34,395
Building Details
Building Size
4,400 SF
Year Built
1918
Construction
brick and steel
Listing Agency:
Baird & Warner 708-601-2638 Overview Additional information MLS R ID 12678301 Interior features Bedrooms 0 Cooling Yes Exterior features Lot Size 0.14 Acres Other property details Taxes $34,396 Tax Frequency Annually Coldwell Banker Dawn McKenna Group Request a tour Contact agent Request a tour Contact agent Listed by Steve Jasinski with Baird & Warner 708-601-2638
Listed By:
Steve Jasinski · License #475151442
(708) 601-2638
Source:
Dawnmckennagroup
Added: Jun 16
Changed: Oct 11
Last Checked: Oct 13 at 2:40AM
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 Baird & Warner 708-601-2638 Overview Additional information MLS R ID 12678301 Interior features Bedrooms 0 Cooling Yes Exterior features Lot Size 0.14 Acres Other property details Taxes $34,396 Tax Frequency Annually Coldwell Banker Dawn McKenna Group Request a tour Contact agent Request a tour Contact agent Listed by Steve Jasinski with Baird & Warner 708-601-2638
Investment Insights
Based on property information with market context.
This flex space combines office areas with functional work and storage components across multiple buildings. The primary building features brick-and-steel construction, two overhead doors, and drive-through access for large vehicles. An industrial-size hood is also installed, supporting the property’s existing commercial configuration.
A separate rear building contains a six-stall garage currently used for storage, providing additional enclosed space for operational or storage needs. Parking is available both inside and outside the buildings. The property is located at 268 Madison St in Oak Park’s Madison Street Business District, at the corner of Cuyler and Madison. Built in 1918, the site can accommodate multiple business operations from one location.
A separate rear building contains a six-stall garage currently used for storage, providing additional enclosed space for operational or storage needs. Parking is available both inside and outside the buildings. The property is located at 268 Madison St in Oak Park’s Madison Street Business District, at the corner of Cuyler and Madison. Built in 1918, the site can accommodate multiple business operations from one location.
Key Highlights
- Brick‑and‑steel construction with office space and multiple buildings
- Two overhead doors provide drive‑through access for large vehicles
- Industrial‑size hood installed in the primary building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,332
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$926,640
$926.6K
Cap Rate 7%
$661,886
$661.9K
Cap Rate 9%
$514,800
$514.8K
Market Conditions
NOI Build-Up for 4,400 SF
Gross rent
$79.2K $18.00/SF
− Vacancy
−$7.9K −$1.80/SF
EGI
$71.3K $16.20/SF
− OpEx
−$24.9K −$5.67/SF
NOI
$46.3K $10.53/SF
Area
Cook County, IL
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$926,640
Cap Rate 7%
$661,886
Cap Rate 9%
$514,800
Alternative Uses
Best Use
Office B
$866.7K
$758.4K – $1.01M
NOI $60,669 @ 7.0% cap · market cap 11.56%
Second Best
Flex RnD
$661.9K
$579.2K – $772.2K
NOI $46,332 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,338 @ 7.0% cap · market cap 20.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,956
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60302, IL
33,698
Population
15,702
Households
2.1
Avg Household Size
41
Median Age
71%
College-Educated
97%
High-School Grad
3.0 sq mi
ZIP Area
11,233
Density / Sq Mi
$97,414
Median Household Income
$69,368
Median Earnings
$1,348
Median Rent
$450,700
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
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Frequently Asked Questions
What type of property is this?
Flex space - Office areas, overhead doors, a commercial hood, and a six-stall garage support varied commercial configurations.
Where is this flex space located?
The property is located at 268 Madison Street Oak Park, IL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Brick‑and‑steel construction with office space and multiple buildings; Two overhead doors provide drive‑through access for large vehicles; Industrial‑size hood installed in the primary building
