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    6955 North Ave Oak Park, IL 60302

    Sponsored
    For Lease
    $16 SF/Yr ($8,933 /Mo)

    6,700 SF, Multi-Tenant Office Space

    Lot size:
    6,700 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional two-story office building, totaling 6,700 square feet, presents a compelling investment opportunity in Oak Park, Illinois. Situated on a 0.14-acre lot at 6955 W North Ave, this Class C property, built in 1962, features twelve units with a current occupancy rate of 45%. The building boasts convenient access to major transportation arteries, including I-290, I-294, the CTA Green Line, and numerous bus routes, ensuring seamless connectivity to the broader Chicago metropolitan area. Its prime location on North Avenue (33,500 vehicles per day), just east of Harlem Avenue, provides excellent visibility and accessibility. The property's zoning is B, and its Cook County APN is 16-06-103-037-0000. Various smaller suites are available for lease, making it suitable for a range of businesses. The building's multi-tenant structure offers flexibility and potential for future growth. Oak Park's vibrant atmosphere, upscale community feel, and proximity to the Chicago Business District (9 miles west) create a desirable location for both businesses and employees. The property's strategic location within a thriving shopping and dining destination further enhances its appeal. This is an ideal opportunity to acquire a well-located, multi-tenant office building in a highly sought-after area.

    Property Features for 6955 North Ave

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    6,700 SF
    Class
    C
    Total Rate
    8933.33

    Building Details

    Year Built
    1962
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Suite G4 & 5
    Size
    1,000 SF
    Rate per SF
    $16
    Space
    Suite 102
    Size
    450 SF
    Rate per SF
    $16
    Space
    Suite 103
    Size
    670 SF
    Rate per SF
    $16
    Space
    Suite 201
    Size
    510 SF
    Rate per SF
    $16
    Space
    Suite 202
    Size
    500 SF
    Rate per SF
    $16
    Space
    Suite 101
    Size
    560 SF
    Rate per SF
    $16

    HighLights

    • Flexible office and medical suites available, under 1,000 SF.
    • Units feature full windows and open floor plans.
    • Ample street parking with North Avenue frontage.
    • Excellent access to public transportation (CTA Green Line, bus routes) and major highways (I‑290, I‑294).
    Property Profile Location Intelligence

    Current Use by Public Records

    Attorney Joseph P. ... Bankruptcy Attorney BB&B Development LLC Construction Company Power of Credit Credit Counseling Service Reuben Inocencia SC: ... Doctor The Healing Massage Studio Sports Massage Therapist

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oak Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.800780299131
    Latitude
    41.908930573528

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    FAQs

    What type of property is this?
    Individual retail property - 6,700 SF, Multi-Tenant Office Space
    Where is this individual retail property located?
    The property is located at 6955 North Ave Oak Park, IL.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Flexible office and medical suites available, under 1,000 SF.; Units feature full windows and open floor plans.; Ample street parking with North Avenue frontage.
    Request Owner's contact information
    6955 North Ave Oak Park, IL 60302
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6955 North Ave Oak Park, IL 60302
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