Commercial Real Estate

414-416 s elmwood avenue

oak park, IL

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Status: Active Under Contract
Property Type: Commercial Real Estate
Community: Oak Park
$1,450,000
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bedrooms
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bathrooms
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square feet
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usable square feet
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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!
Lot size: 8,751 square feet
Taxes: $26,917
Style:
County: Cook
Listing time: Clients only
MLS #: 12123774

Map: 414-416 s elmwood avenue

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Property Details: 414-416 s elmwood avenue

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Interior features

Interior information
  • Total Rooms: Ask Agent
  • Bedrooms: Ask Agent
  • Interior Features:
  • Full Bathrooms: Ask Agent
  • Half Bathrooms: Ask Agent
  • Master Bedroom: No
  • Additional Rooms: Ask Agent
Living Room
  • Size: Ask Agent
  • Level:
  • Floor Coverings:
Dining Room
  • Combined With Living Room: No
  • Size: Ask Agent
  • Level:
  • Floor Coverings:
Kitchen
  • Size: Ask Agent
  • Level:
  • Floor Coverings:
Family Room
  • Size: Ask Agent
  • Level:
  • Floor Coverings:
Master Bedroom
  • Size: Ask Agent
  • Level:
  • Floor Coverings:
Laundry
  • Size: Ask Agent
  • Level:
  • Floor Coverings:
Basement
  • Basement: No
  • Description:
Equipment, Appliances, HVAC
  • Heating: Baseboard
  • Cooling: Window Unit(s)
  • Appliances: Ask Agent
  • Additional Equipment:

Exterior, pets, parking, misc

Exterior information
  • Exterior Features: Ask Agent
  • Exposures:
  • Roof: Pitched, Composition
  • Lot Acres: Ask Agent
  • Lot Square Footage: 8,751 square feet
  • Waterfront: No
Pets
  • Pets Allowed: Ask Agent
  • Pet Information:
Parking
  • Total Parking Spaces: Ask Agent
  • Parking Description:
  • Garage Spaces: Ask Agent
  • Garage Description:

Financial information

  • Taxes: $26,917
  • Tax Year: 2023
  • Assessments (HOA): Ask Agent
  • Assessments Include: Water, Gas
  • Special Assessments:
  • Is Distressed Sale: No

Property specific details

  • Year Built: 1965
  • Building Age: Older
  • Total Number Of Units: 11
  • Number Of Stories: 3

chicagohome's network knowledge

  • Usable SqFt: Ask Agent
  • $'s/Usable SqFt: Ask Agent
  • Parcel Identification Number (PIN): 16074230401009
  • Subdivision Name:

Listing courtesy of @properties

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