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    6955 North Ave Oak Park, IL 60302

    Sponsored
    For Sale
    $575,000

    12-unit, 6,700 SF office building

    Property size:
    6,700 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This Oak Park, IL property offers a compelling value-add investment opportunity. The 6,700 square foot, two-story building features twelve units, currently at 45% occupancy. Located at 6955 W North Ave, this multi-tenant property boasts a prime location with excellent visibility on North Avenue (33,500 vehicles per day), just east of Harlem Avenue. The building includes rear parking and offers a mix of executive office, medical office, and storefront spaces, making it suitable for a variety of tenants. Its convenient access to major roadways, including I-290 and I-294, as well as public transportation (CTA Green Line and multiple bus routes), ensures seamless connectivity to the broader Chicago metropolitan area. The property sits on a 0.14-acre lot and is zoned B. The building's flexible layout and diverse unit sizes provide opportunities for increased occupancy and rental income. This is an exceptional chance to acquire a well-situated commercial property in the thriving Oak Park community, a desirable upscale area just nine miles west of Chicago's central business district. The property's strong location, combined with its potential for increased occupancy and rental income, makes it an attractive investment for those seeking value-add opportunities in a vibrant and accessible market. The asking price is $575,000, and the property is offered as a NNN lease.

    Property Features for 6955 North Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    6,700 SF
    Class
    C
    Lot Size
    6,098 SF

    Building Details

    Buildings
    1
    Stories
    2
    Units
    12

    HighLights

    • ±6,700 SF two‑story office building with garden level.
    • Twelve (12) units, open floor plans, 45% occupancy.
    • Rear parking lot and North Avenue frontage.
    • Convenient access to CTA Green Line, bus routes, I‑290, and 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
    -87.800891484335
    Latitude
    41.908928987371

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    FAQs

    What type of property is this?
    Individual retail property - 12-unit, 6,700 SF office building
    Where is this individual retail property located?
    The property is located at 6955 North Ave Oak Park, IL.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: ±6,700 SF two-story office building with garden level.; Twelve (12) units, open floor plans, 45% occupancy.; Rear parking lot and 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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