Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Oak Lawn Office Condo Title is generated by Realmo AI

    4647 W 103RD Street, Oak Lawn, IL 60453

    View on Map
    Claim this Listing
    For Sale
    $399,000

    COMMERCIAL - Oak Lawn, IL

    Type:Office
    Property size:
    2,400 SF
    Lot size:
    0.74 Acres
    Price / SF:
    $166/SF
    Added:
    Apr 8, 2026
    Days on Market:
    37
    Last Refresh:
    May 14 at 12:06 pm

    Property Features for 4647 W 103RD Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Zoning
    OFFIC
    Standard status
    Active
    APN
    24151020521013
    Size
    2,400 SF
    Lot size
    0.74 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    17101

    Utilities

    Utilities
    Cable Available
    Cooling system
    Central Air

    Building Details

    Year built
    1974
    Floors in Building
    2
    Number of units
    5
    Flooring type
    Carpet
    Building materials
    Brick
    Roof type
    Rubber

    We can help!

    Listing Contact
    Mike Matariyeh

    Listing agent Mike Matariyeh

    Listing office Real Broker, LLC 50 S. Main Street, Suite 200, Naperville, IL

    Listing date Apr 8, 2026

    MLS# 12612375

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey layout ideal for medical, rehab, or professional use.
    • 2,400 SF office condo with 12 private offices and a large open rehab area.
    • Created by combining five units, offering flexibility and potential for reconfiguration or division.
    • Located in an elevator building with ADA access.
    • Includes reception area with waiting room and dedicated storage space.
    • Well maintained and ready for immediate occupancy.

    Overview

    This 2,400 SF office condo in Oak Lawn is currently configured as a physical therapy office, offering a flexible, turnkey layout suitable for medical, rehab, or professional purposes. Created by combining five units, the space features 12 private offices, a reception area with a waiting room, dedicated storage, and a large open area currently used as a rehab gym. Located in an elevator building with ADA access, the property ensures convenience and accessibility for staff and clients. The unit can be reconfigured or divided in the future to accommodate different business needs. Well-maintained and ready for immediate occupancy, this property presents an opportunity for multi-provider practices, outpatient rehab centers, therapists, or office users seeking a mix of private rooms and open space. The property is located in Oak Lawn, IL, Cook County, on a lot of 0.7432 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Andretta Favors, Maguire ... Real Estate Agency Dr. George W. ... Dental Office Malee Joseph M ... Physician Curing Physical Therapy ... Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oak Lawn
    County
    Cook
    State
    Illinois
    Longitude
    -87.737279
    Latitude
    41.7052373

    Nearby Similar for Sale

    • $329,000
      1,200 SF

      Oak Lawn Commercial Opportunity

      Single-story medical office near hospitals and major retailers.
      9629 SOUTHWEST Highway, Oak Lawn, IL 60453
      View Details
    • $445,000
      3,000 SF

      Versatile Commercial Building in Oak Lawn

      Multi-unit commercial building with income potential in prime Oak Lawn.
      9725 Southwest Highway, Oak Lawn, IL 60453
      View Details
    • $322,500
      2,884 SF

      Oak Lawn Multifamily Home

      Two-unit multifamily home with eight bedrooms in Oak Lawn.
      9312 S Kolmar Avenue, Oak Lawn, IL 60453
      View Details
    • $445,000
      3,000 SF

      Versatile Multi-Unit Commercial Building

      Multi-unit commercial building in Oak Lawn with immediate income potential.
      9725 Southwest Highway, Oak Lawn, IL 60453
      View Details
    • $398,500

      Oak Lawn Commercial Building

      Premier building with great exposure on main street location.
      6737 W 95th Street, Oak Lawn, IL 60453
      View Details
    • $1,300,000
      6,279 SF

      Iconic Oak Lawn Retail Opportunity

      Landmark building with retail center in high-traffic area.
      5540 W 95th St, Oak Lawn, IL 60453
      View Details
    • $975,000

      Oak Lawn Multifamily Opportunity

      Multifamily property for sale in Oak Lawn, Illinois.
      9516 S KOLIN Avenue, Oak Lawn, IL 60453
      View Details
    • $1,999,000
      21,460 SF

      Oak Lawn Multi-Tenant Industrial Building

      21,460 SF industrial building, 100% occupied, investment opportunity.
      5530 W 110th Street Oak Lawn, IL 60453
      View Details
    • $550,000
      3,180 SF

      Retail Investment Near Metra Station

      Three-unit retail property in downtown Oak Lawn near Metra.
      5170 W 95th St, Oak Lawn, IL 60453
      View Details
    • $950,000
      6,800 SF

      Oak Lawn Retail Investment Opportunity

      Five-unit retail investment property in downtown Oak Lawn.
      5370 W 95th St, Oak Lawn, IL 60453
      View Details
    • $750,000
      6,790 SF

      Mixed-Use Building with Income Potential

      Mixed-use property featuring commercial spaces and residential units.
      5307 West 95th Street, Oak Lawn, IL 60453
      View Details
    • $450,000
      3,600 SF

      Oak Lawn Office Building

      3,600 SF office building with three units for sale.
      9723-9725 Southwest Hwy, Oak Lawn, IL
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 2,400 SF office condo ideal for medical or professional use.
    Where is this medical office space located?
    The property is located at 4647 W 103RD Street Oak Lawn, IL.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Turnkey layout ideal for medical, rehab, or professional use.; **2,400 SF office condo with 12 private offices and a large open rehab area.**; Created by combining five units, offering flexibility and potential for reconfiguration or division.
    (630) 439-6385
    We can help!
    Listing Contact
    Mike Matariyeh
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4647 W 103RD Street, Oak Lawn, IL 60453
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!