For Sale
$850,000

321-329 Chicago Ave Oak Park, IL 60302

Multi-tenant storefront, 7,658 SF, 8.21% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
127
This exceptional Oak Park, Illinois investment opportunity presents a multi-tenant retail storefront at 321-329 Chicago Ave, situated on the northeast corner of Ridgeland and Chicago Avenues. The 7,658 square foot building, constructed in 1932, boasts a strong 8.21% capitalization rate and offers significant value-add potential. Currently occupied by four tenants, including Domino's, Jinny's Cleaners, and a veterinary practice, this property provides a diverse and stable income stream. The building benefits from high visibility, a prime location with substantial foot traffic, and convenient on-site parking for 25 vehicles. The asking price is $850,000. Lease options and rent bumps are available. This fee simple ownership offers a stabilized investment with a proven track record. The property's location in Cook County, Illinois, zip code 60302, ensures easy access to major transportation routes and a thriving community. This is a rare opportunity to acquire a well-positioned, income-producing retail property in a desirable location.

Highlights

  • Multi-tenant retail building totaling 7,658 square feet at 321-329 Chicago Ave, Oak Park, IL.
  • Built in 1932.
  • 25 on-site parking spaces.

Property Details for 321-329 Chicago Ave

Property type
Retail properties, Retail space
Square Feet
7,658 SF
Year Built
1932

Location Insight

City
Oak Park
County
Cook
State
Illinois
Latitude
41.8943558
Longitude
-87.7844419
321-329 Chicago Ave, Oak Park, Illinois

FAQs

What type of property is this?
Retail property - Multi-tenant storefront, 7,658 SF, 8.21% Cap Rate
Where is the retail property located?
The property is located at 321-329 Chicago Ave Oak Park, IL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Multi-tenant retail building totaling 7,658 square feet at 321-329 Chicago Ave, Oak Park, IL.; Built in 1932.; 25 on-site parking spaces.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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321-329 Chicago Ave
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