107 Oak Park AveOak Park, IL 60301

Property Details for 107 Oak Park Ave

Year built

1915

Lot size

0.34 AC

Property type

Office properties

Property subtype

Other office properties

APN

16-07-129-036-1003

APU

16071290361003

Description

This exceptional 4,437-square-foot commercial space at 107 N Oak Park Ave in Oak Park, Illinois, presents a unique opportunity for a variety of businesses. Located in downtown Oak Park on a main thoroughfare, this single-tenant property boasts excellent visibility thanks to large storefront windows. The space is currently vacant and offers a flexible layout suitable for several uses, including executive office, creative office, retail, or restaurant. Previously configured as a restaurant, it offers a second-generation space ready for immediate occupancy. The property is situated in Cook County, Illinois, and features a convenient address with easy access to local amenities and transportation. This is a remarkable opportunity for a business seeking a high-profile location with significant street presence. A compelling incentive is currently available: up to twelve months of free rent is offered on a minimum five-year lease. The property type is classified as retail, office, and restaurant, making it adaptable to a wide range of business needs. The zip code is 60301. The total building square footage is 4,437 square feet, with all of it currently vacant.

• CAP approach

  CAP return

  Valuation

  6%

  $4,514,044

  6.5%

  $4,166,810

  7%

  $3,869,180

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,953,229

  Geo Method

  $1,953,229

• Alternative Use

  Use

  Valuation

  Residential

  $5,166,844

  Hospitality

  $4,732,801

  Educational

  $3,937,635

  Medical

  $4,073,056

  Retail

  $6,125,210

Location Insight

City

Oak Park

County

Cook

State

Illinois

Latitude

41.8875

Longitude

-87.7949

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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