Quadplex with First-Floor Insurance
For Sale
Contact for pricing
6533 North Ave, Oak Park, IL 60302
Four apartments above an American Family Insurance agency, with a full basement and three-car on-site parking.
Property Size3,255 SF
Price / SF$260.83
Days on Market139
Property Features for 6533 North Ave
General Information
Standard status
Active
Size
3,255 SF
Total Parking Spaces
3
Property subtype
OFFICE
Additional Details
Gross Income
$83,571
Building Details
Tenancy
Multi
Listing Agency:
Millennium Properties Real Estate
(312) 338-3000
Listed By:
Susan B. Silver · License #475136992
(312) 338-3001
Source:
Moodyscre
Added: Jun 2
Changed: Oct 16
Last Checked: Oct 16 at 6:43AM
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 Millennium Properties Real Estate
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Investment Insights
Based on property information with market context.
This quadplex includes an American Family Insurance agency on the first floor, with four residential units above. The apartment mix consists of three one-bedroom apartments and one two-bedroom apartment. A full basement adds laundry and storage space to support everyday tenant needs.
The building includes on-site parking for three cars. Long-term tenants are currently in place.
With the insurance office on the first floor and a four-unit residential setup upstairs, the property offers a straightforward, mixed-use configuration designed for both operational continuity and resident housing.
The building includes on-site parking for three cars. Long-term tenants are currently in place.
With the insurance office on the first floor and a four-unit residential setup upstairs, the property offers a straightforward, mixed-use configuration designed for both operational continuity and resident housing.
Key Highlights
- 3255 SF quadplex with an insurance agency on the first floor
- Three one‑bedroom apartments plus one two‑bedroom apartment
- Full basement with laundry and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,881
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$897,620
$897.6K
Cap Rate 7%
$641,157
$641.2K
Cap Rate 9%
$498,678
$498.7K
Market Conditions
NOI Build-Up for 3,255 SF
Gross rent
$79.7K $24.48/SF
− Vacancy
−$19.8K −$6.10/SF
EGI
$59.8K $18.38/SF
− OpEx
−$15.0K −$4.60/SF
NOI
$44.9K $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%
$897,620
Cap Rate 7%
$641,157
Cap Rate 9%
$498,678
Alternative Uses
Best Use
Office B
$641.2K
$561.0K – $748.0K
NOI $44,881 @ 7.0% cap · market cap 5.29%
Second Best
Multifamily LT 5
$603.4K
$528.0K – $704.0K
NOI $42,237 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$1.12M
$983.3K – $1.31M
NOI $78,666 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,051
Businesses Nearby
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
Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments above an American Family Insurance agency, with a full basement and three-car on-site parking.
Where is this quadplex located?
The property is located at 6533 North Ave Oak Park, IL.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 3255 SF quadplex with an insurance agency on the first floor; Three one‑bedroom apartments plus one two‑bedroom apartment; Full basement with laundry and storage
