414-416 S Elmwood Avenue Save Request In-Person Tour Request Virtual Tour
Oak Park,IL 60302
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 12,600 sqft
Price per Sqft $115
MLS Listing ID 12123774
Year Built 1965
Annual Tax Amount $26,917
Tax Year 2023
Lot Dimensions 50X175
Property Description
Introducing a prime deconversion opportunity at 414-416 S Elmwood Ave, Oak Park, IL. This well-positioned 11-unit multifamily building presents a unique investment prospect with significant potential. The property features a diverse mix of 5 one-bedroom, one-bath units (approximately 900 sq. ft.) and 6 two-bedroom, one-bath units (approximately 1,100 sq. ft.), offering a range of living options in a highly desirable area. Key features of the property include 13 off-street parking spaces, ensuring ample convenience for tenants. Recent upgrades enhance the building's appeal and operational efficiency: the roof was entirely replaced 9 years ago, the boiler was updated 2 years ago, and the interior hallways and exterior windows have just been repainted. Situated just steps from the Ridgeland/Madison bus stop and only 0.5 miles from the Ridgeland Green Line stop, the location offers excellent public transportation access. The vibrant Madison Street corridor, known for its array of grocery stores, entertainment options, and retail shops, is nearby, providing tenants with ample amenities. Additionally, Julian Middle School is conveniently located next door, making this an attractive choice for families with school-aged children. This property's combination of location, recent upgrades, and versatile unit mix makes it an exceptional candidate for a multifamily deconversion. Seize the opportunity to capitalize on this high-potential asset in Oak Park's dynamic real estate market!
Location
State IL
County Cook
Zoning MULTI
Interior
Cooling Window Unit(s)
Fireplace N
Exterior
View Y/N true
Roof Type Composition
Building
Structure Type Brick
Others
HOA Fee Include Water,Gas