Oak Park, IL
Commercial Real Estate Market Trends & Data

$171 Avg asking sale price
$17 Avg asking lease rate
12,266 SF Avg unit lease size
23,193 SF Avg building size for sale
8.71% Average cap rate

Oak Park's Demographic Profile

Oak Park has 23,547 households and a median income of $98,032, providing context for rent absorption and tenant demand across retail and multifamily assets. A -2% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 54,098
# Households 23,547
Median age 41
Median household income $98,032
Avg household size 2.0
Renter-occupied housing units 10,276
5-year population change -2%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Oak Park, IL

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Oak Park $145 15,426 SF 9.52%
River Forest $159 10,512 SF 7.37%
Forest Park $205 17,127 SF 7.37%
Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Oak Park $97 36,970 SF 9.48%
Forest Park $109 82,484 SF 7.68%
Maywood $71 30,523 SF 8.20%
Nearby Retail Markets Avg Cost/SF Typical Size
Oak Park $247 11,879 SF
River Forest $174 8,325 SF
Forest Park $422 9,194 SF
Elmwood Park $148 4,872 SF
Maywood $154 14,106 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Oak Park $133 16,389 SF 12.74%
River Forest $176 5,956 SF 10.95%
Cicero $93 18,741 SF 9.83%
Berwyn $121 19,059 SF 9.83%

Commercial Properties For Sale in Oak Park

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

Commercial Building

Chicago, IL 60634

  • 1,725 SF Retail Building
  • $289,000
For Sale

4917 W. Addison

Chicago, IL 60641

  • 3,548 SF Multifamily
  • 5.45% Cap Rate
  • $725,000
For Sale

Dunkin’

Cicero, IL 60804

  • 1,850 SF Retail Building
  • 5.80% Cap Rate
  • $2,068,000
For Sale

AIA /// 9 UNITS /// OAK PARK

Oak Park, IL 60304

  • 8,802 SF Multifamily
  • 7.16% Cap Rate
  • $1,500,000
For Sale

2957-2959 N Cicero Ave

Chicago, IL 60641

  • 8,200 SF Multifamily
  • $1,345,000
For Sale

201 N Laramie Ave

Chicago, IL 60644

  • 6,966 SF Multifamily
  • 10.80% Cap Rate
  • $775,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Oak Park pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Oak Park $171 23,193 SF
River Forest $150 8,919 SF
Forest Park $246 28,000 SF
Elmwood Park $118 7,604 SF
Maywood $138 16,574 SF

Multifamily Properties For Sale in Oak Park

For Sale

2119 S 51st Ave

Cicero, IL 60804

  • 9,346 SF Multifamily
  • 7.74% Cap Rate
  • $1,430,000
For Sale

Washington Plaza

Chicago, IL 60644

  • 105,000 SF Multifamily
  • $12,000,000
For Sale

4850 W North Ave

Chicago, IL 60639

  • 27,450 SF Multifamily
  • 8.31% Cap Rate
  • $3,395,000

Regional Demographic Comparison

This comparison places Oak Park alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Oak Park or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Oak Park 54,098 23,547 41 $98,032 2 10,276 -2%
River Forest 11,692 3,936 41 $143,225 3 550 -2%
Forest Park 14,673 7,623 43 $73,606 2 4,054 -2%
Elmwood Park 23,248 8,924 43 $73,159 3 3,056 -4%
Maywood 23,380 7,452 37 $58,991 3 3,034 -2%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Oak Park, IL and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Oak Park

View All Commercial Real Estate For Sale in Oak Park
Is Oak Park a good market for a first-time commercial real estate investor?

Oak Park offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Oak Park?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Oak Park. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Oak Park?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Oak Park. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Oak Park compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Oak Park. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Oak Park acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Oak Park, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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