Oak Park Restaurant Investment
For Sale
Contact for pricing
846 Madison St, Oak Park, IL 60302
Single-tenant property leased to Robinson’s No. 1 Ribs.
Property Size5,500 SF
Lot Size0.16 Acres
Price / SF$153.64
Days on Market155
Property Features for 846 Madison St
General Information
Standard status
Active
Size
5,500 SF
Lot size
0.16 Acres
Property subtype
Retail
Zoning
MS - Madison Street Zoning District
Occupancy
100%
Lease Type
Net
Investment Type
Stabilized
Building Details
Year Built
1919
Buildings
1
Stories
2
Units
1
Tenancy
Single
Listing Agency:
Greenstone Partners
(312) 614-1498
Listed By:
AJ Patel · License #475.190820
Source:
Crexi
Added: Mar 19
Changed: Aug 8
Last Checked: Jul 21 at 8:39AM
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 Greenstone Partners
Investment Insights
Based on property information with market context.
The property at 846-848 Madison Street in Oak Park, Illinois, presents an opportunity to acquire a single-tenant net leased asset. The property is fully occupied by Robinson’s No. 1 Ribs, an established barbeque restaurant that has been operating in the Oak Park area for over 40 years. The restaurant occupies the entire building, which measures approximately 5,500 square feet and is situated on approximately 7,150 square feet of land. The tenant operates under a triple-net lease, extending their term until January 1, 2031. The property is located on the north side of Madison Street, between South Oak Park Avenue and South Kenilworth Avenue, five blocks from the CTA Oak Park Green Line 'L' Station and six blocks from the Metra Rail UP-W Oak Park Station. The Oak Park submarket features a diverse tenant mix across various industries, including food, clothing, grocery, entertainment, education, and healthcare. The surrounding neighborhood has several mixed-use developments, including Oak Park Commons, The Lexington Reserve Townhomes, The Emerson, Eleven33, and the Rush Oak Park Hospital. The area has a population of over 274,000 within 3 miles and an average household income of nearly $120,000 within 1 mile.
Key Highlights
- Single‑tenant net leased property with Robinson's No. 1 Ribs, a well‑established and award‑winning local restaurant with a lease in place until 2031.
- Triple‑net lease structure provides a hands‑off investment opportunity.
- Located in a robust and highly‑rated (A+ by Niche.com) area of Oak Park, Illinois.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,579
Businesses Nearby
163k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Dining 27%
Groceries 24%
Home Improvements & Furnishings 1%
Jewel-Osco
Groceries
39,662 visits/mo
0.5 miles
Dollar Tree
Shops & Services
24,736 visits/mo
0.1 miles
Wendy's
Dining
20,028 visits/mo
0.5 miles
Popeyes Louisiana Kitchen
Dining
16,904 visits/mo
0.3 miles
BP
Shops & Services
14,946 visits/mo
0.5 miles
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Single-tenant property leased to Robinson’s No. 1 Ribs.
Where is this conventional restaurant located?
The property is located at 846 Madison St Oak Park, IL.
What is the asking price?
The asking price for this property is $845,000.
What are key features of this property?
This property features: Single‑tenant net leased property with Robinson's No. 1 Ribs, a well‑established and award‑winning local restaurant with a lease in place until 2031.; Triple‑net lease structure provides a hands‑off investment opportunity.; Located in a robust and highly‑rated (A+ by Niche.com) area of Oak Park, Illinois.
