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Property profile & analytics
FOR LEASE
Office Spaces
193 N Marion St, Oak Park, IL 60301
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US28-0151466
For Lease
1 / 25
$30 SF/Yr
193 N Marion St, Oak Park, IL 60301
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Property summary
AI-generated overview
This exceptional creative office space, located at 193 N. Marion, offers 2,600 square feet of immediately available space in a beautifully renovated building. Originally constructed in 1928 and extensively updated in 2019, this three-story building boasts a unique blend of historic charm and contemporary functionality. The space features impressive 9-8 foot ceilings, perfect for showcasing creative designs and maximizing natural light. The property is zoned DT-1 and has a total building size of 6,596 square feet, divided into four suites. While the entire 2,600 square foot vacant space is available, smaller contiguous spaces down to 1,710 square feet can be considered. The building is located near Ontario St, offering convenient access to downtown amenities. Note that there is no on-site parking and no elevators are present. Property taxes are $7.68 per square foot. This move-in ready space is ideal for businesses seeking a unique and inspiring work environment in a prime downtown location. The APN is 16-07-118-068-0000. This property is perfect for a variety of uses, including creative office, retail, or restaurant.
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1927
Lot
0.05 ac (2,075 SF)
APN
16-07-118-050-1001
UPID
US28-0151466
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Lunar Cleaning Service Hardware & Home Improvement
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Marketing Resources Incorporated Advertising Agency Marketing & Advertising
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Coldwell Banker Real Estate Group Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Halverson LLC · 22 yrs held
Halverson LLC
since 2004
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Oak Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oak Park submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$16,619
Tax year 2022
Assessed value
$41,390
Assessed 2022
Previous assessed
$41,607
-0.5% YoY
Effective rate
40.15%
On assessed value
Assessed land
$5,187
Assessed improvement
$36,203
Land market value
$20,748
Improvement market value
$144,812
Total market value
$165,560
Applied tax rate
27,002.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
For Lease
Year built
1927
Heating
NONE
Lot
0.05 ac (2,075 SF)
APN
16-07-118-050-1001
UPID
US28-0151466
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1927
Heating
NONE
Lot
0.05 ac
Current owner
From public records · entity-resolved
Halverson LLC
Entity
Mailing address
193 N MARION ST, OAK PARK, IL 60301-1081
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 5, 2004
$227,500
Halverson LLC
Chicago Title Land Trt Co Ttee
Grant Deed
$220,000 · Community Bank Oak Park River
—
—
Halverson LLC
—
Deed Of Trust
related
$615,400 · J P Morgan Chase Bank
—
—
Halverson LLC
—
Deed Of Trust
related
$90,000 · Community Bank Oak Park River
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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