Well-Maintained Office
401 Harrison Street Oak Park, IL 60304
401 Harrison Street, Oak Park, IL, 60304
$2,200,000
For Sale
$2,200,000
Well-maintained office building with a recent new roof, multiple offices, storage, and 23 on-site parking spaces.
Property Size6,602 SF
Price / SF$333.23
Days on Market362
Property Features for 401 Harrison Street
General Information
- Standard status
- Active
- Size
- 6,602 SF
- Property subtype
- Office
Building Details
- Year Built
- 1991
Listing agency
RE/MAX Real Estate Solutions
(765) 639-8104
Listed by
Marty Dulworth · License #RB22002095
(765) 639-8104
Source
Xome
Added: Jul 27, 2025 Updated: Jul 22 at 2:51PM Checked: Jul 22 at 2:51PM
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 Real Estate Solutions
Investment Insights
Based on property information with market context.
This well-maintained office building includes multiple offices and storage room space throughout. The property has a recent new roof, supporting a building that is positioned for continued operational use.
Ample on-site parking is available with 23 parking spaces for clients and employees. The building offers access to public transportation and is located off the 290 expressway for convenient regional connectivity.
The property is being offered for sale as a sale leaseback, providing an investor-oriented structure tied to existing occupancy.
Ample on-site parking is available with 23 parking spaces for clients and employees. The building offers access to public transportation and is located off the 290 expressway for convenient regional connectivity.
The property is being offered for sale as a sale leaseback, providing an investor-oriented structure tied to existing occupancy.
Key Highlights
- Well‑maintained office building built in 1991
- Recent new roof
- Central air conditioning
Local Financial Insights For Office B
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 | $161.6k | $24.48 |
| − Vacancy | −$40.2k | −$6.10 |
| EGI | $121.4k | $18.38 |
| − OpEx | −$30.3k | −$4.60 |
| NOI | $91.0k | $13.79 |
6,602 SF · lease $24.48/SF/yr · vacancy 24.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.30M
$1.14M – $1.52M
NOI $91,031 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,556 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Scheck & Siress: A Hanger ...
Orthotics & Prosthetics Service
Hanger Clinic: Prosthetics ...
Orthotics & Prosthetics Service
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FAQs
What type of property is this?
Office building - Well-maintained office building with a recent new roof, multiple offices, storage, and 23 on-site parking spaces.
Where is this office building located?
The property is located at 401 Harrison Street Oak Park, IL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Well‑maintained office building built in 1991; Recent new roof; Central air conditioning
