Two-Story Mixed-Use
6533 West North Avenue Oak Park, IL 60302
6533 West North Avenue, Oak Park, IL, 60302
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For Sale
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Two-story mixed-use property on North Avenue with updated apartments, roof work, and long-term tenants.
Property Size3,255 SF
Lot Size0.07 Acres
Price / SF$260.83
Days on Market101
Property Features for 6533 West North Avenue
General Information
- Standard status
- Active
- Size
- 3,255 SF
- Lot size
- 0.07 Acres
- Property subtype
- Retail, Office, Mixed Use
Listing agency
Millennium Properties R/E
(312) 338-3000
Listed by
Susan Silver · License #IL 475136992
Source
Crexi
Added: Apr 13 Updated: Jul 21 at 2:32PM Checked: Jul 21 at 2:32PM
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 R/E
Investment Insights
Based on property information with market context.
This well-maintained two-story mixed-use property sits on a 3,255 square foot site and features a mix of long-term tenants with stable cash flow. The building has undergone numerous improvements, including updating three apartments, installing a new sump pump, replacing the hot water heater, and adding a new layer on the roof. Overall, the property is maintained in excellent condition.
Located at 6533 West North Avenue in Oak Park, the property benefits from strong visibility and accessibility along North Avenue. The surrounding area is described as a mix of residential density and neighborhood retail, with good access to public transportation. The remarks also note that the Village of Oak Park is a premier Chicagoland suburb with a strong residential base, historic character, and proximity to downtown Chicago.
Located at 6533 West North Avenue in Oak Park, the property benefits from strong visibility and accessibility along North Avenue. The surrounding area is described as a mix of residential density and neighborhood retail, with good access to public transportation. The remarks also note that the Village of Oak Park is a premier Chicagoland suburb with a strong residential base, historic character, and proximity to downtown Chicago.
Key Highlights
- 2‑story mixed‑use property on a 3,255 SF site along North Avenue
- Features a mix of long‑term tenants and stable cash flow
- Numerous improvements, including updating three apartments
Local Financial Insights For Retail
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 | $70.3k | $21.60 |
| − Vacancy | −$5.8k | −$1.77 |
| EGI | $64.5k | $19.83 |
| − OpEx | −$19.4k | −$5.95 |
| NOI | $45.2k | $13.88 |
3,255 SF · lease $21.60/SF/yr · vacancy 8.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$645.4K
$564.8K – $753.0K
NOI $45,180 @ 7.0% cap · market cap 5.32%
Second Best
Office B
$641.2K
$561.0K – $748.0K
NOI $44,881 @ 7.0% cap · market cap 5.29%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Vanessa Dukes American ...
Insurance Agency
B. Safe Transportation
Freight Service
Forrest Dukes Agency
Insurance Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Two-story mixed-use property on North Avenue with updated apartments, roof work, and long-term tenants.
Where is this retail space located?
The property is located at 6533 West North Avenue 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: 2‑story mixed‑use property on a 3,255 SF site along North Avenue; Features a mix of long‑term tenants and stable cash flow; Numerous improvements, including updating three apartments
