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246 Chicago Ave
Oak Park, IL 60302
246-248 Chicago, Oak Park, Illinois · Retail Property For Sale


INVESTMENT HIGHLIGHTS
- Solid West Suburban Oak Park Community
- 7 skylights & kitchen infrastructure in place
- Redevelopment | Value-Add Opportunity
EXECUTIVE SUMMARY
Perfect Investment, redevelopment project or owner-user. Huge Retail Space with kitchen infrastructure in place and outdoor space. Wonderful long-term tenant whose lease can expire in 2024. FP Commercial is pleased to represent 246-248 Chicago, Oak Park, Illinois. Oak Park Commercial Investment Opportunity. A vibrant commercial retail corridor in this desired west suburban community is an existing retail property containing 5,075 square feet of gross leasable area. The improvements were constructed in 1919 and are 100% leased. The site area is 0.14 acres or 6,000 square feet. Currently leased to Terra Incognito Gallery, the space has several wonderful skylights, unique kitchen infrastructure and a wonderful cozy outdoor space. Currently combined, this can easily transform back into two 2500 SF Storefront Retail/Office or multi-tenant building for acquisition. Located on the north side of Chicago Avenue, the property features several easily available public outdoor parking spaces. Corridor Co-Tenants include 7-11 community convenience store, Pediatric Medical Offices and Chop Shop Restaurant which add to the building's high visibility, prime location and tremendous foot traffic. 246 Chicago, Oak Park is an Attractive investment with value-add potential.
PROPERTY FACTS Under Contract
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,075 SF
Building Class
C
Year Built/Renovated
1919/2021
Price
$726,280 CAD
Price Per SF
$143.11 CAD
Cap Rate
7.20%
NOI
$52,285 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.82
Lot Size
0.14 AC
Zoning
NC - Neighborhood commercial
Frontage
40’ on Chicago Ave
AMENITIES
- Atrium
- Fenced Lot
- Skylights
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 16-05-322-024-0000 | Improvements Assessment | $83,522 CAD |
| Land Assessment | $66,403 CAD | Total Assessment | $149,925 CAD |
PROPERTY TAXES
Parcel Number
16-05-322-024-0000
Land Assessment
$66,403 CAD
Improvements Assessment
$83,522 CAD
Total Assessment
$149,925 CAD
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