Office Suite with On-Site
For Sale
Contact for pricing
7003 North Avenue, Oak Park, IL 60302
A professional office setting across from Rush Hospital, with parking available for staff and visitors.
Property Size2,500 SF
Price / SF$0.01
Days on Market23
Property Features for 7003 North Avenue
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Neighborhood Storefront
Additional Details
Property Use
Office
Building Details
Year Built
1960
Tenancy
Multi
Listing Agency:
Baird & Warner, Inc.
(708) 697-5900
Listed By:
Aaron Vanderbilt · License #471015639
(312) 265-8000
Source:
Helenoliveri
Added: Oct 7
Changed: Oct 28
Last Checked: Oct 28 at 3:58PM
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 Baird & Warner, Inc.
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Investment Insights
Based on property information with market context.
This office space is within a professional building at 7003 North Avenue. The property was built in 1960 and has on-site parking for employees and clients. Existing occupants include Edward Jones Investments and Rupert Tax Accountants.
The building is directly across from Rush Hospital and near residential developments in Galewood. Oak Park, River Forest, Elmwood Park, and Galewood are among the communities identified in the property’s service area. The stated potential uses include medical and healthcare offices, professional services, financial services, community organizations, and personal care businesses.
The building is directly across from Rush Hospital and near residential developments in Galewood. Oak Park, River Forest, Elmwood Park, and Galewood are among the communities identified in the property’s service area. The stated potential uses include medical and healthcare offices, professional services, financial services, community organizations, and personal care businesses.
Key Highlights
- On‑site parking for employees and clients
- Directly across from Rush Hospital
- Existing occupants include Edward Jones Investments and Rupert Tax Accountants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,471
Suggested Prices Based on Cap Rates
Cap Rate 5%
$689,420
$689.4K
Cap Rate 7%
$492,443
$492.4K
Cap Rate 9%
$383,011
$383.0K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$61.2K $24.48/SF
− Vacancy
−$15.2K −$6.10/SF
EGI
$46.0K $18.38/SF
− OpEx
−$11.5K −$4.60/SF
NOI
$34.5K $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%
$689,420
Cap Rate 7%
$492,443
Cap Rate 9%
$383,011
Alternative Uses
Best Use
Retail
$495.7K
$433.8K – $578.3K
NOI $34,700 @ 7.0% cap · market cap 144,583.33%
Second Best
Office B
$492.4K
$430.9K – $574.5K
NOI $34,471 @ 7.0% cap · market cap 143,629.17%
Theoretical Best
Office A
$863.1K
$755.3K – $1.01M
NOI $60,420 @ 7.0% cap · market cap 251,750.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,468
Businesses Nearby
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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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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - A professional office setting across from Rush Hospital, with parking available for staff and visitors.
Where is this office unit located?
The property is located at 7003 North Avenue Oak Park, IL.
What are key features of this property?
This property features: On‑site parking for employees and clients; Directly across from Rush Hospital; Existing occupants include Edward Jones Investments and Rupert Tax Accountants
