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    FOR SALE
    Commercial real estate

    316 N Austin Blvd Oak Park, IL 60302

    Property ID
    US28-2093268
    316 N Austin Blvd, Oak Park, IL 60302 For Sale 1 / 35
    $702,000
    316 N Austin Blvd, Oak Park, IL 60302
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    Property summary
    AI-generated overview

    This exceptional 9,148 square foot lot presents a remarkable redevelopment opportunity in Oak Park's desirable Ridgeland-Oak Park historic district. Currently zoned R7 - Multi-Family, this property is ideally suited for multifamily development. The site boasts a 52x180 foot parcel with 12 existing parking spaces, a significant advantage for any future project. The existing three-story building, currently used as a religious institution, is legally non-conforming. Architectural features include a 1940 addition to the south side and an enclosed front porch with glass block windows. The property's location offers unparalleled convenience, situated within a 5-minute walk of the Austin Boulevard Metra station and a 5-minute drive from the Interstate 290 - Austin Boulevard Interchange. This prime location, combined with the generous lot size and existing parking, makes this an exceptional investment opportunity for developers seeking to capitalize on the strong demand for multifamily housing in this thriving area of Cook County, Illinois. The asking price for this land is $702,000. The property's APN is 16-08-305-020-0000.

    Property profile
    Verified
    Property type Commercial real estate
    APN 16-08-305-020-0000
    UPID US28-2093268
    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
    • Maranatha Christian Center Church
    1 occupant on record
    Value estimations
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    Owner & transaction history
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    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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