Essex Realty Group, Inc. has been exclusively engaged to market for sale 1051 Madison St., a mixed-use property on the corner of Madison St. and Wisconsin Ave. in the historic Chicago suburb of Oak Park. The building consists of (15) apartments, and (3) fully leased ground-floor commercial spaces.
1051 Madison St. presents the opportunity to acquire a stabilized asset on a premier corner directly in front of Rush Oak Park Hospital in the highly sought after suburb of Oak Park. The Property was fully renovated in 2012 including new electric, plumbing, and porches. The commercial spaces are in high demand by Oak Park residents and business owners. Current leases are in place through 2024-2025.
The apartment units feature hardwood floors, granite countertops, maple cabinets, and tenant paid heat and electric. Current rents are approximately $100-$200/mo. below market, providing future ownership the opportunity for increased returns.
The Property is conveniently located within walking distance to the Oak Park Green Line, Harlem Blue Line, and the Oak Park UP-W Metra station, servicing both the western suburbs and downtown Chicago.
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- Mixed-Use Property on Premier Oak Park Corner
- Gut Renovated in 2012 - New Electric, Plumbing, Porches
- Significant Rental Upside - Apartment Rents $100-$200/Mo. Below Market
- (15) Apartments and (3) Fully Leased Commercial Spaces
- Located Adjacent to Rush Oak Park Hospital
- Walking Distance to CTA/Metra Trains, Abundant Retail & Entertainment