Office Building with
For Sale
$1,950,000
401 Harrison Street, Oak Park, IL 60304
Multiple offices and storage areas provide practical workspace and support space.
Property Size6,602 SF
Price / SF$295.37
Days on Market420
Property Features for 401 Harrison Street
General Information
Standard status
Active
Size
6,602 SF
Total Parking Spaces
23
Property subtype
COMMERCIAL
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Property Use
Office
Taxes and HOA fees
Annual Taxes
$13,574
Building Details
Building Size
6,602 SF
Year Built
1991
Listing Agency:
Compass
(847) 306-6158
Listed By:
Melody Mueller · License #IL 475.185687
Source:
Lwreedy
Added: Sep 4, 2025
Changed: Oct 27
Last Checked: Oct 26 at 9:53PM
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 Compass
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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 6,602-square-foot office building was constructed in 1991 and includes multiple offices and storage areas. A recently installed roof and on-site parking are among its physical features.
The property has 23 parking spaces and access to public transportation. It is located off the 290 expressway and is being offered through a sale-leaseback transaction.
The property has 23 parking spaces and access to public transportation. It is located off the 290 expressway and is being offered through a sale-leaseback transaction.
Key Highlights
- 6,602‑square‑foot office building constructed in 1991
- 23 on‑site parking spaces
- Multiple offices and storage areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,031
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,820,620
$1.8M
Cap Rate 7%
$1,300,443
$1.3M
Cap Rate 9%
$1,011,456
$1.0M
Market Conditions
NOI Build-Up for 6,602 SF
Gross rent
$161.6K $24.48/SF
− Vacancy
−$40.2K −$6.10/SF
EGI
$121.4K $18.38/SF
− OpEx
−$30.3K −$4.60/SF
NOI
$91.0K $13.79/SF
Area
Cook County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,820,620
Cap Rate 7%
$1,300,443
Cap Rate 9%
$1,011,456
Alternative Uses
Best Use
Office B
$1.30M
$1.14M – $1.52M
NOI $91,031 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,556 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,566
Businesses Nearby
Explore this area
Business Placement
Demographics for 60304, IL
17,842
Population
6,842
Households
2.6
Avg Household Size
38
Median Age
73%
College-Educated
97%
High-School Grad
1.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$132,841
Median Household Income
$76,027
Median Earnings
$1,279
Median Rent
$470,100
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?
Office building - Multiple offices and storage areas provide practical workspace and support space.
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 $1,950,000.
What are key features of this property?
This property features: 6,602‑square‑foot office building constructed in 1991; 23 on‑site parking spaces; Multiple offices and storage areas
