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About the Listing 6179 - 44442,168534
Presenting a strong cash flowing multi-tenant investment opportunity with immediate value-add potential in downtown Oak Park. The property is situated along the highly trafficked Lake St commercial corridor near Oak Park Ave and is surrounded by numerous restaurants, shops, small businesses, and a dense residential population. The building's current tenants operate in the well-insulated legal and medical services industries and have been in place for an average of 5 years. Both leases have 3% annual rent increases throughout the remaining term as well as any option periods providing a steady growing income stream. The building is professionally managed and recent capital improvements include work to the parking lot (2020) and plumbing (2019). The property is zoned DT-2, which allows for a myriad of commercial uses as well as residential uses above the ground floor. With two 2nd floor suites currently available, this advantageous zoning lends the property flexibility to future commercial tenants as well as the ability to adapt the 2nd floor to a residential use if so desired. Simply put, this offering represents a well maintained and professionally managed building that provides an insulated and growing income stream with value-add potential in a highly desirable area of Oak Park.
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Central Air
- Heating: Central Heat/Indiv Controls,Forced Air,Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Municipal Water
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 37.5 X 147.29
- Zoning: COMMR
- Roof: Reflective Coating,Other
- Others:
- Sewer:
- Parking Features: 6-12 Spaces
Financial Details
- Tax Amount: $34,311
- Taxes w/Assessments: N/A
- Tax/Property ID: 16072180070000
- Tax Year: 2024
Payment Calculator
Monthly Payment
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Questions About..
720 Lake St Oak Park, IL 60301
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