Under contract

Contingent

414-416 S Elmwood Avenue

Oak Park IL, 60302

$1,450,000


$115.08 per sqft

Under contract

Contingent

12,600 sqft

Multi-family

Built in 1965

Courtesy of 33 Realty

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!

12123774

MLS ID

July 29, 2024

Listed

November 22, 2024

Updated

Map

414-416 S Elmwood Avenue
Oak Park IL, 60302

Interior Features

Total Stories

3


Fireplace

No


Cooling

Yes


Cooling Description

Window Unit(s)


Heating

No

Exterior/Building Features

Lot Size

0.2 Acres


Roof

Composition

Other Property Details

Area Name

Oak Park


Taxes

$26,917


Tax Frequency

Annually


Days on Market

47


Garage

No


View

No


County

Cook


Municipality

Oak Park


Pool

No


Zoning

MULTI

Listing History

Date

Event

Price

9/13/2024

Under contract

Courtesy of 33 Realty, Liam Moore,
Listing Contact: 773-327-4975 

The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than Ed Bellock are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

Based on information submitted to the  MLS GRID for MRED 11/22/2024. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.

©2024 Listings Courtesy of MRED as distributed by MLS GRID. All rights reserved.

Data last updated 8:09 AM UTC, 11/22/2024

 

 

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