$775,000
( $138.39Per Sq Foot )
 $4,160 est/mo Sourced by Back At You

720 Lake Street,Oak Park, IL 60301

Oak Park, IL 60301

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Description

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.

Details

MLS #12721002
Listing TypeFor Sale
StyleMixed Use
Sub-TypeResale
StatusActive
Year1929
Days On Site35
Listing Provided ByCompass | Thomas Wagner

Features

SQ Feet5,600
Story(s)2
Units5
ZoningCOMMR

Interior

CoolingCentral Air

Exterior

RoofReflective Coating, Other
Foundation DetailsConcrete Perimeter
Construction MaterialsBrick

Utilities

UtilitiesElectric to Site, Natural Gas Available, Cable Available
ElectricCircuit Breakers

Taxes

Tax Year2024
Tax Annual Amount34311.14

Area Information

StateIL
CountyCook
CityOak Park
Zip Code60301
AreaOak Park
Listing VS Median (in 60301)
Price:
$775,000
low | high
Med:
$135,000
100% of Average
sqft:
5,600
low | high
Med:
500
100% of Average
$ / sqft:
$138
low | high
Med:
$270
45.096774193548% of Average
On site:
35
low | high
Med:
9
100% of Average
Sourced by Back At You

Market Activity 60301

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Contact

Learn More About This Property

Daniel and Associates Real Estate

Daniel and Associates Real Estate

 (630) 231-8090daareoffice@daare.com
StateIL
CountyCook
CityOak Park
Zip Code60301
AreaOak Park
Listing VS Median (in 60301)
Price:
$775,000
low | high
Med:
$135,000
100% of Average
sqft:
5,600
low | high
Med:
500
100% of Average
$ / sqft:
$138
low | high
Med:
$270
45.096774193548% of Average
On site:
35
low | high
Med:
9
100% of Average
Sourced by Back At You
Listing Updated: August 7, 2026 at 11:13:47 PM PDT
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