400 Lake Street

400 Lake Street, Oak Park, IL 60302

  • For Sale $900,000
  • Property Type Multi-Family
  • Property Size 5,200 SF
  • Units 10
  • Additional Rent Contact for pricing
  • Date Updated Dec 9, 2024
ABOUT THE VILLAGE The Village of Oak Park is a historic Illinois community favorably located just nine miles west of downtown Chicago. Originally settled in the 1830s, the neighborhood makes up the 29th largest municipality in Illinois according to the US Census. Today, Oak Park provides a desirable residence for commuters looking to live right outside city limits. The community is located in close proximity to the I-90/94 expressways and the Blue and Green CTA train service lines, providing easy access to Chicago’s city center. The area is best known for its historical significance & architecture, vibrant downtown culture, and strong school & park districts. Oak Park has a vibrant downtown scene exhibited by the various shops, galleries, restaurants and other local businesses. Lake and Marion Streets provide residents with a variety of bar and restaurant options. Clusters of international influenced eateries such as Katy’s Dumpling House and La Notte Ristorante intersect with art galleries, live-music venues and locally owned boutiques. Downtown Oak Park also offers a range of hotels, fitness centers, grocery stores, and more. As a result of the Village's vibrancy, Oak Park's population increased by more than 5.2% from 2010 to 2020. THRIVING PARK & SCHOOL DISTRICTS The Village of Oak Park is home to a longstanding park district and strong school district including eight elementary schools, two middle schools, and Oak Park & River Forest High School, which is ranked 39th of 724 high schools in Illinois. The park district, first created in 1912, is made up of thirteen parks, the Oak Park Conservatory, two outdoor pools, ice rinks, and a historic house used for local events and gatherings. In addition to the park district, Oak Park also has a thriving local library that overlooks Scoville Park at Oak Park Avenue and Lake Street. These districts and organizations provide residents with a rich sense of community and local pride.Essex Realty Group, Inc. 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.
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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

Contacts

broker

Essex Realty Group

Location

Getting Around

  • Walk Score ®

    85/100 Very Walkable
  • Transit Score ®

    63/100 Good Transit
  • Bike Score ®

    67/100 Bikeable
Powered by Walk Score ®
  • City Oak Park, IL
  • Zip Code 60302
  • Market Chicago

Points of Interest

  • Cicero

    2.28 miles

  • Maywood

    2.77 miles

  • 54th/Cermak

    2.93 miles

  • Elmwood Park

    2.95 miles

  • Kostner

    3.59 miles

  • Berwyn

    3.85 miles

  • Harlem Avenue

    4.03 miles

  • Kedzie

    4.06 miles

  • Central Park

    4.32 miles

  • Riverside

    4.64 miles

  • Citgo

    0.04 miles

  • BP

    0.08 miles

  • Mobil

    0.66 miles

  • Soofa Solar Phone Charger

    0.98 miles

  • Exxon

    1.11 miles

  • ChargePoint

    4.78 miles

  • Tesla Destination Charger

    5.78 miles

  • eVgo

    6.21 miles

  • EVgo

    6.25 miles

  • Electrify America

    6.67 miles

  • Avenue Parking Garage

    0.46 miles

  • Lot 46 G

    0.50 miles

  • West Suburban Hospital Parking Garage

    0.53 miles

  • Jewel Osco Lot

    0.58 miles

  • Lot 57

    0.92 miles

  • Holly Court Parking Garage

    1.00 miles

  • Hatch School Parking Lot

    1.19 miles

  • Concordia University Parking Garage

    1.41 miles

  • Lot 84

    1.57 miles

  • Forest Park Park & Ride

    1.91 miles

  • Shamrock Motel

    2.60 miles

  • Karavan Motel

    2.95 miles

  • Travel Inn Motel

    3.59 miles

  • Cindy Lyn Motel

    3.70 miles

  • Fullerton Hotel

    3.94 miles

  • Chicagoland Motel

    4.65 miles

  • Super 8 Chicago/Rosemont/O'Hare/SE

    4.77 miles

  • Presidential Inn

    4.80 miles

  • Irving Hotel - SRO

    4.83 miles

  • Holiday Inn Express

    5.29 miles

  • Subway

    0.23 miles

  • Domino's

    0.40 miles

  • Jimmy John's

    0.43 miles

  • New Pot Restauraunt

    0.46 miles

  • Sagano Sushi

    0.46 miles

  • Saigon Pho & Cafe

    0.47 miles

  • Maya Del Sol

    0.51 miles

  • The Daly Bagel

    0.51 miles

  • Grape Leaves

    0.52 miles

  • Church's Chicken

    0.52 miles

  • William Beye Elementary School

    0.21 miles

  • Oak Park & River Forest High School

    0.29 miles

  • Intercultural Montessori Language School

    0.37 miles

  • Emmaus Bible School

    0.49 miles

  • Percy Julian Middle School

    0.53 miles

  • Saint Edmund School

    0.54 miles

  • Fenwick High School

    0.58 miles

  • Saint Lucy School

    0.66 miles

  • Dole Learning Center

    0.67 miles

  • Whittier Elementary School

    0.75 miles

  • Little Folks Cottage Inc

    0.83 miles

  • Little Beginnings Day Care

    0.86 miles

  • The Day Nursery

    1.07 miles

  • ABC Toon Town Day Care

    1.12 miles

  • Blocks 24 hr Child Care Center

    1.14 miles

  • Back 2 Basics Day Care

    1.36 miles

  • Morningside Children's Academy

    1.60 miles

  • Sunny Days Kid's Academy

    1.63 miles

  • Kangaroo Kroner

    1.86 miles

  • Happy Days Child Care Center

    3.12 miles

Frequently Asked Questions

How much does 400 Lake Street cost?

The space currently listed for sale at 400 Lake Street asks for $900,000.

What is the total square footage of 400 Lake Street?

400 Lake Street totals 5,200 square feet.

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Contact Listing Broker
broker

Essex Realty Group