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    26 Madison St Oak Park, IL 60302

    Sponsored
    For Sale
    $525,000

    Renovated 4,350 SF, High Traffic

    Property size:
    4,350 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional two-story, 4,350-square-foot mixed-use building in Oak Park, Illinois, presents a compelling investment opportunity. Completely renovated in 2021, and boasting further upgrades in 2022 including a new roof, HVAC system, and ductwork, this property offers 2,175 square feet of ground-floor retail/office space, perfectly suited for a variety of uses such as retail, medical office, or a spa. The upper level features a renovated one-bedroom, one-bathroom apartment, ideal for live/work arrangements. The building benefits from a highly visible location on Madison Street in the MS - Madison Street Zoning District, with a daily traffic count of 16,096 vehicles. Ample street parking is available, and the property enjoys proximity to major roadways (I-290 Expressway), public transportation (Metra rail, train, and bus lines), and numerous amenities including McDonald's, US Bank, Dunkin', Subway, Oak Park Village Hall, and the Oak Park Park District Headquarters. The lot size is 3,125 square feet. The building features new electric wiring (200 amps), a new water heater, updated plumbing, and new lighting. The asking price is $525,000, and the 2021 property taxes were $12,193.19. The seller is open to considering owner financing offers. This property combines prime location, modern updates, and versatile space, making it an attractive investment for discerning buyers.

    Property Features for 26 Madison St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    4,350 SF

    Building Details

    Year Renovated
    2021
    Stories
    2

    HighLights

    • $525,000 asking price for a 4,350 sq ft mixed‑use building in Oak Park, IL.
    • Completely renovated in 2021, featuring 2,175 sq ft of ground‑floor retail/office space and a 1‑bedroom, 1‑bathroom apartment.
    • New roof, HVAC, and ductwork (2022); new electrical wiring (200 amps), water heater, plumbing, and lighting.
    • Excellent location on Madison Street with ample street parking, high daily traffic counts (16,096 vehicles), and proximity to I‑290, Metra, and bus lines.
    • Zoned MS - Madison Street Zoning District; 3,125 sq ft lot; 2021 taxes: $12,193.19.
    Property Profile Location Intelligence

    Current Use by Public Records

    Beauty Plug Beauty Salon Oak Park Wireless Cell Phone Store JTiaraLuxe Hair Salon

    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
    -87.7759297
    Latitude
    41.8804105

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    FAQs

    What type of property is this?
    Mixed-use property - Renovated 4,350 SF, High Traffic
    Where is this mixed-use property located?
    The property is located at 26 Madison St Oak Park, IL.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: $525,000 asking price for a 4,350 sq ft mixed-use building in Oak Park, IL.; Completely renovated in 2021, featuring 2,175 sq ft of ground-floor retail/office space and a 1-bedroom, 1-bathroom apartment.; New roof, HVAC, and ductwork (2022); new electrical wiring (200 amps), water heater, plumbing, and lighting.
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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
    26 Madison St Oak Park, IL 60302
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