720 Lake Street
Oak Park, IL, 60301
$775,000
Beds
0 Baths
0 SqFt
0 Acres
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MLS #MRD12721002 image #0
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.

Property Details

Price:
$775,000
MLS #:
MRD12721002
Status:
Active
Beds:
0
Baths:
0
Type:
Commercial
Neighborhood:
oakpark
Listed Date:
Jul 31, 2026
Total Sq Ft:
5,600
Year Built:
1929
Oak ParkOakpark

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Schools

Interior

Cooling
Central Air

Exterior

Construction Materials
Brick
Roof
Reflective Coating, Other
Stories
2

Financial

Net Operating Income
$40,805
Tax Year
2024
Taxes
$34,311

Map

Community

Market Summary

Current real estate data for Commercial in Oak Park as of Oct 04, 2026
11
Commercial Listed
194
Avg DOM
$749,627
Avg List Price

Property Summary

    720 Lake Street Oak Park IL is a Commercial for sale in Oak Park, IL, 60301. It is listed for $775,000

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720 Lake Street
Oak Park, IL