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    1053 Lake St Oak Park, IL 60301

    Sponsored
    For Lease
    $20 SF/Yr ($9,310 /Mo)

    Downtown Oak Park office space, high-end finishes.

    Lot size:
    5,586 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This ±1,862 square foot office suite is located on the third floor of a three-story mixed-use building at 1053 Lake Street in Oak Park, Illinois. Built in 1912 and renovated in 2016, the building sits on a 0.04-acre lot in Cook County. The suite features high-end finishes, abundant natural light, a reception/waiting area, four private offices, a kitchen, two internal restrooms, and storage. The single-tenant space is part of a larger 5,586 square foot building. Its prime downtown Oak Park location offers easy access to major transportation arteries, including I-290, I-294, the CTA Green Line, and numerous bus routes, providing seamless connectivity to the broader Chicago metropolitan area. This convenient location benefits both employees and clients, making it ideal for businesses seeking a strategic and accessible location. Oak Park itself is a vibrant community known for its upscale atmosphere, shopping, and dining options, situated just nine miles west of Chicago's central business district. This property presents a compelling opportunity for businesses seeking a well-appointed and conveniently located office space.

    Property Features for 1053 Lake St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,586 SF
    Total Rate
    9310

    Building Details

    Year Built/Renovated
    1912/2016
    Buildings
    1
    Stories
    3

    Unit(s) available at that property

    Space
    Size
    1,862 SF
    Rate per SF
    $20

    HighLights

    • ±1,862 SF full‑floor office suite in a three‑story mixed‑use building.
    • Prime downtown Oak Park location.
    • High visibility, blocks from CTA, abundant natural light.
    • Four private offices, reception area, kitchen, two restrooms, and storage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hecho en Oak ... Mexican Restaurant Higher Ground Wellness ... Mental Health Service Cappelli Institute of Music Music School Noah2 Corporate Office

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.802118704697
    Latitude
    41.888627519568

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    FAQs

    What type of property is this?
    Office space - Downtown Oak Park office space, high-end finishes.
    Where is this office space located?
    The property is located at 1053 Lake St Oak Park, IL.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: ±1,862 SF full-floor office suite in a three-story mixed-use building.; Prime downtown Oak Park location.; High visibility, blocks from CTA, abundant natural light.
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    1053 Lake St Oak Park, IL 60301
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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
    1053 Lake St Oak Park, IL 60301
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