Mixed-Use Building with Retail
For Sale
$629,900
3108 S OAK PARK Avenue, Berwyn, IL 60402
Four apartments complement two occupied commercial office spaces, with separate gas and electric meters for each tenant.
Property Size2,500 SF
Price / SF$251.96
Days on Market78
Property Features for 3108 S OAK PARK Avenue
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Zoning
COMMR
Site & Location
Public Transit
Yes
Mixed-Use Components
retail, residential
Units
Unit Mix
2 x 1BR, 1 x 2BR, 1 x studio
Multifamily Units
4
Individually Metered Utilities
gas, electricity
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,070
Building Details
Year Built
1946
Buildings
1
Stories
2
Units
6
Tenancy
Multi
Listing Agency:
RE/MAX Partners
Listed By:
Luis Ortiz · License #475136884
(708) 484-2300
Source:
Fishmangroup
Added: Aug 10
Changed: Oct 23
Last Checked: Oct 23 at 1:23PM
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 RE/MAX Partners
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Investment Insights
Based on property information with market context.
The property combines approximately 2,500 sq. ft. of commercial and retail area with approximately 4,900 sq. ft. of residential space. The residential portion contains four apartments: two one-bedroom units, one two-bedroom unit, and a studio. Two office spaces are occupied by a nail salon and a heating and air conditioning company. The building dates to 1946 and is zoned COMMR.
The property is one block from the Metra station and near local shops, restaurants, and everyday services. Separate gas and electric meters serve each tenant.
The property is one block from the Metra station and near local shops, restaurants, and everyday services. Separate gas and electric meters serve each tenant.
Key Highlights
- Approximately 2,500 sq. ft. of commercial and retail space
- Approximately 4,900 sq. ft. of residential space across four apartments
- Apartment mix: two 1‑bedroom units, one 2‑bedroom unit, and one studio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,188
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$843,760
$843.8K
Cap Rate 7%
$602,686
$602.7K
Cap Rate 9%
$468,756
$468.8K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$75.0K $30.00/SF
− Vacancy
−$7.5K −$3.00/SF
EGI
$67.5K $27.00/SF
− OpEx
−$25.3K −$10.13/SF
NOI
$42.2K $16.88/SF
Area
Cook County, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$843,760
Cap Rate 7%
$602,686
Cap Rate 9%
$468,756
Alternative Uses
Best Use
Mixed Use
$602.7K
$527.4K – $703.1K
NOI $42,188 @ 7.0% cap · market cap 6.70%
Second Best
Retail
$495.7K
$433.8K – $578.3K
NOI $34,700 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$863.1K
$755.3K – $1.01M
NOI $60,420 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,814
Businesses Nearby
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Business Placement
Demographics for 60402, IL
64,706
Population
25,111
Households
2.6
Avg Household Size
37
Median Age
25%
College-Educated
85%
High-School Grad
5.7 sq mi
ZIP Area
11,352
Density / Sq Mi
$73,993
Median Household Income
$42,802
Median Earnings
$1,168
Median Rent
$277,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four apartments complement two occupied commercial office spaces, with separate gas and electric meters for each tenant.
Where is this mixed-use property located?
The property is located at 3108 S OAK PARK Avenue Berwyn, IL.
What is the asking price?
The asking price for this property is $629,900.
What are key features of this property?
This property features: Approximately 2,500 sq. ft. of commercial and retail space; Approximately 4,900 sq. ft. of residential space across four apartments; Apartment mix: two 1‑bedroom units, one 2‑bedroom unit, and one studio
