7000 North Ave Chicago, IL 60707

Property Details for 7000 North Ave

Year built

1980

Lot size

0.28 lot acres

Property size

14,005 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This exceptional three-story medical office building, totaling 14,005 square feet, presents a compelling value-add investment opportunity in Chicago, Illinois. Located at 7000 W North Ave, this fully leased property boasts 19 units and offers immediate returns. The building underwent a complete renovation in 2023, including new HVAC systems and a modernized roof. The property features versatile parking options, including covered, surface, and street parking, plus an additional lot providing potential for expansion. Situated on a 0.28-acre lot, the building was constructed in 1980 and is classified as Class B. Its prime location, just half a block from the intersection of North and Harlem Avenues, places it near major healthcare centers such as Rush Outpatient Facility, Rush Oak Park, and West Suburban hospitals. The property's proximity to the former Sears site redevelopment and the thriving commercial hub of Oak Park offers significant long-term growth potential. The asking price is $1,350,000, translating to $96.39 per square foot. Future plans include the installation of solar roof panels. This is a rare opportunity to acquire a fully occupied, recently renovated medical office building in a high-demand location. The property's strong tenant base and strategic location make it an ideal investment for those seeking immediate cash flow and future appreciation. The Cook County property features APN numbers 13-31-323-048-0000 and 13-31-323-034-0000. The building also includes a six-car masonry garage.