400-402 Lake St - Storefront Retail/Office FOR SALE


Oak Park, IL 60302
$900,000 USD
630-320-9963
400-402 Lake St, Oak Park, IL for Sale
$900,000 USD
Storefront Retail/Office - FOR SALE
1/6
null | Request Cap Rate

400-402 Lake St
Oak Park, IL 60302


HIGHLIGHTS

  • Prime Location: One Block from the Metra and CTA Green Line Stations, Offering Convenient Access to Downtown Oak Park and the Greater Chicago Area
  • Excellent Accessibility: Surrounded by a Variety of Restaurants, Shops, and Services, with Quick Access to Major Transportation Options
  • Value-Add Opportunity: Significant Upside Potential Through Leasing and Market Rent Adjustments
  • High-Demand Market: Located in a Sought-After Submarket with Strong Potential for Long-Term Appreciation

OVERVIEW

Essex Realty Group, LLC is pleased to exclusively market for sale 400 Lake Street, in Oak Park IL. This mixed-use property features three (3) ground-floor retail storefronts, six (6) second-floor office spaces, and one (1) three-bedroom, one bathroom apartment. Located just one block from both the Metra and CTA Green Line stations and near Downtown Oak Park, this property offers tenants excellent accessibility to transportation and amenities. There is significant potential to increase income through leasing efforts and adjusting rents to market levels. The property currently has five (5) vacant office spaces and one (1) vacant retail storefront, presenting a value-add opportunity for investors. The strong retail and office market in Oak Park, along with the area’s robust residential demand, positions this asset for steady income growth. 400 Lake St. is surrounded by a variety of restaurants, shops, and services, offering a highly accessible and convenient location. This mixed-use property provides an opportunity to invest in a well-located value-add asset.

FOR SALE DETAILS

PRICE

$900,000 USD

PRICE/SF

$132 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1918

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

-

APN/PARCEL ID

16-07-223-022-0000

ASK ABOUT THIS PROPERTY

Will CrossenEssex Realty Group, LLCMore Info
630-320-9963

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Will CrossenEssex Realty Group, LLCMore Info
630-320-9963

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.