113 Marion StOak Park, IL 60301

Property Details for 113 Marion St

Year built

1964

Lot size

0.10 AC

Property type

Retail properties

Property subtype

Retail space

APN

16-07-301-016

APU

1607301016

Description

This exceptional Oak Park property at 113 N Marion St offers a unique blend of retail and office space, ideal for multiple tenants. The building, constructed in 1920, boasts 9,739 square feet across two stories, situated on a 0.14-acre lot. The ground floor presents excellent storefront and street retail opportunities, while the second floor includes approximately 150 square feet of executive office space. The property's Commercial zoning allows for diverse uses. Located in the heart of downtown Oak Park, this location is a Walker's Paradise, providing easy access to public transportation including the Oak Park Metra Station, the CTA Green Line, and numerous bus routes. Its strategic proximity to major highways, I-290 and I-294, ensures seamless connectivity to the broader Chicago metropolitan area, benefiting both businesses and employees. Oak Park's vibrant atmosphere, known for its shopping and dining scene, attracts both local residents and tourists, creating a high-traffic environment for retail ventures. This Cook County property presents a compelling investment opportunity in a thriving, upscale community just nine miles west of Chicago's central business district. The building's multiple tenancy options provide flexibility for various business needs.

• CAP approach

  CAP return

  Valuation

  6%

  $1,880,601

  6.5%

  $1,735,939

  7%

  $1,611,944

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,394,978

  Geo Method

  $1,394,978

• Alternative Use

  Use

  Valuation

  Residential

  $1,464,330

  Hospitality

  $1,341,318

  Educational

  $1,115,961

  Medical

  $1,154,340

  Retail

  $1,735,939

Location Insight

City

Oak Park

County

Cook

State

Illinois

Latitude

41.8862

Longitude

-87.803

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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