Multi-Tenant Medical Office
720 Lake St Oak Park, IL 60301
720 Lake St, Oak Park, IL, 60301
Contact for pricing
For Sale
Contact for pricing
Pending
Fully leased multi-tenant building with medical and professional services tenants, professionally managed, with recent parking and plumbing improvements.
Property Size5,600 SF
Days on Market244
Property Features for 720 Lake St
General Information
- Standard status
- Pending
- Size
- 5,600 SF
- Property subtype
- Multifamily, Office, Retail, Mixed Use
Building Details
- Year Built
- 1926
Listing agency
Compass
(847) 638-2659
Listed by
Tom Wagner · License #IL 475176488
Source
Crexi
Added: Nov 19, 2025 Updated: Jul 21 at 4:32AM Checked: Jul 21 at 4:32AM
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
Investment Insights
Based on property information with market context.
This fully leased multi-tenant investment opportunity includes a tenant mix in medical and professional services. Tenants have been in place for an average of 6 years, and the property is professionally managed. Three of the four leases feature annual rent increases of 3–5 percent throughout the remaining term, as well as any option periods. Recent capital improvements include work to the parking lot in 2020 and plumbing improvements in 2019.
The building is situated along the Lake St commercial corridor near Oak Park Ave in downtown Oak Park, surrounded by restaurants, shops, and small businesses, along with a dense residential population. The property is zoned DT-2, which allows a variety of commercial uses as well as residential use above the ground floor. This zoning also supports flexibility for future commercial tenants and includes the option to adapt the 2nd floor to residential use if desired.
The building is situated along the Lake St commercial corridor near Oak Park Ave in downtown Oak Park, surrounded by restaurants, shops, and small businesses, along with a dense residential population. The property is zoned DT-2, which allows a variety of commercial uses as well as residential use above the ground floor. This zoning also supports flexibility for future commercial tenants and includes the option to adapt the 2nd floor to residential use if desired.
Key Highlights
- Year built 1926 multi‑tenant building in downtown Oak Park with medical and professional services tenants
- Fully leased with a tenant mix that has been in place an average of 6 years
- Three of four leases include annual 3–5% rent increases through the remaining term and any option periods
Property Analytics
Location Intelligence
Current Use by Public Records
Manno Law Group
Law Firm
Patricia Huth, PHD
Physician
Amy E. Stearns, ...
Physician
Christian & Manno
Law Firm
Total Wellness Center
Physician
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FAQs
What type of property is this?
Medical Office Space - Fully leased multi-tenant building with medical and professional services tenants, professionally managed, with recent parking and plumbing improvements.
Where is this medical office space located?
The property is located at 720 Lake St Oak Park, IL.
What are key features of this property?
This property features: Year built 1926 multi‑tenant building in downtown Oak Park with medical and professional services tenants; Fully leased with a tenant mix that has been in place an average of 6 years; Three of four leases include annual 3–5% rent increases through the remaining term and any option periods
