Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    6209 North Ave Oak Park, IL 60302
    Back to Search
    Property profile & analytics

    6209 North Ave, Oak Park, IL 60302

    View on Map
    • Retail properties & Spaces
    • 14,000 SF
    • 36,155.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Oak Park BodyWorks / Gym & Fitness Center
    • Atlantic Electrical Construction and Handyman / Hardware & Home Improvement / General Contractor
    • BodyWorx Fitness Multiplex / Gym & Fitness Center
    • Juice Worx/Eco Oxygen Bar & Cafe / Specialty Food Shop / (Bike/Boat/Book/etc) Store
    • Spinoxhiit / Gym & Fitness Center

    Property Details for 6209 North Ave

    Year built
    2021
    Lot size
    36,155.00 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Grocery and convenience stores

    Description

    This 14,000-square-foot freestanding retail building, located at 6209 W. North Ave in Oak Park, IL, presents a compelling investment opportunity. Built in 2021, the property is situated on a 3.6-acre lot (APN: 16-05-102-032-0000) and is zoned within the North Avenue Zoning District, allowing for versatile commercial use. Currently vacant, this owner-user investment offers a value-add potential. The building features 41 on-site parking spaces. Priced at $2,750,000 ($196.43/SF), the property is a NNN lease type. Located in Cook County, zip code 60302, this prime location in Oak Park offers high potential for entrepreneurial ventures, benefiting from the area's diverse population and proximity to Chicago. The property's size and location make it suitable for a variety of retail and commercial concepts. This is a single-building property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Oak Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.7815
    Latitude
    41.9093

    Comparable in this City

    • Value Estimation by Request
      14,000 SF

      6209 North Ave

      Individual retail properties
      6209 North Ave, Oak Park, IL 60302
      View Details
    • Value Estimation
      $1,815,000
      0.83 Acres

      6201 Nn Ave

      GROCERY, SUPERMARKET
      6201 Nn Ave, Oak Park, IL 60302-1125
      View Details
    • Value Estimation by Request
      0.42 Acres

      438 Madison St

      GROCERY, SUPERMARKET
      438 Madison St, Oak Park, IL 60302-4012
      View Details
    • Value Estimation by Request
      1.15 Acres

      100 Lk St

      GROCERY, SUPERMARKET
      100 Lk St, Oak Park, IL 60302-2607
      View Details
    • Value Estimation by Request
      1.14 Acres

      438 Madison St

      GROCERY, SUPERMARKET
      438 Madison St, Oak Park, IL 60302-4012
      View Details
    • Value Estimation by Request
      7,658 SF

      321-329 Chicago Ave

      Individual retail properties
      321-329 Chicago Ave, Oak Park, IL 60302
      View Details

    Similar Nearby for Sale

    • $761,538

      Oak Park 7-Eleven For Sale

      Single tenant 7-Eleven in Oak Park, Illinois.
      240 Chicago Ave, Oak Park, IL 60302
      View Details
    • Contact for pricing
      5,500 SF

      Established Restaurant Opportunity in Oak Park

      Long-standing restaurant for sale in a high-demand Oak Park location.
      848 Madison St, Oak Park, IL 60302
      View Details
    • Contact for pricing

      Oak Park Restaurant Investment Opportunity

      Single-tenant property leased to Robinson’s No. 1 Ribs.
      846 Madison St, Oak Park, IL 60302
      View Details
    • $575,000
      6,700 SF

      Oak Park Office Building For Sale

      12-unit, 6,700 SF office building
      6955 North Ave, Oak Park, IL 60302
      View Details
    • Contact for pricing
      14,000 SF

      Oak Park Retail Building For Rent

      14,000 SF renovated retail building in prime Oak Park location.
      6209 W Ave N, Oak Park, IL 60302
      View Details
    • Contact for pricing
      3,500 SF

      NNN Ground Lease Opportunity

      Single tenant NNN ground lease with redevelopment potential.
      1148 Madison St, Oak Park, IL 60302
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      900 SF

      Restaurant Space Near Green Line

      900 SF restaurant space near transportation and schools.
      210 Lake St, Oak Park, IL 60302
      View Details
    • $12 SF/Yr

      Retail Space with High Ceilings

      Large open retail space, a blank canvas, perfect for anything.
      7 Lake St, Oak Park, IL 60302
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space with Restaurant Potential

      Retail space with black-iron, suitable for restaurant use.
      6303 W North Ave, Oak Park, IL 60302
      View Details
    • $28 SF/Yr

      Retail Space in Oak Park

      Flexible retail space with parking near downtown Oak Park.
      1023-25 W Madison St W, Oak Park, IL 60302
      View Details
    • Contact for pricing
      2,482 SF

      Oak Park Retail Investment Opportunity

      Value-add investment in booming Oak Park with stable income.
      316-324 Lake St, Oak Park, IL 60302
      View Details
    • Contact for pricing

      Oak Park Office Building

      Two-story office building in Oak Park with suites available.
      6955 W North Ave, Oak Park, IL 60302
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6209 North Ave
    Oak Park, IL 60302
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    6209 North Ave, Oak Park, IL, 60302
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!