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29836401
23437041

7000 W North Ave, Chicago, IL 60707

AL
IL IL 471015537, CO CO IA.100086731
SVN | Chicago Commercial
SVN | Chicago Commercial
Listed by SVN | Chicago Commercial
$1,350,000
711 days on market
Updated 4 days ago

100% Occupied | 12.3% Cap Office Investment Opportunity

Details
APN 13-31-323-048-0000, 13-31-323-034-0000
Property Type Office
Sub Type Medical Office
Square Footage 15,662
Units 17
Cap Rate 12.37%
NOI $166,941
Occupancy 100%
Tenancy Multi
Lease Type Modified
Price per SqFt $86
Broker Co-Op Yes
Class B
Year Built 1980
Year Renovated 2022
Buildings 1
Stories 3
Acreage 0.280
Investment Type Redevelopment

Flexible OffÏce Property with Mixed‑Use Conversion Opportunity

Marketing description

SVN Chicago Commercial is pleased to present 7000 and 7006 W North Avenue, a three-story office property with an adjoining lot and garage, in Chicago, Illinois. Just across the street from Oak Park, this impressive 17,850 SF office building offers 17 office units, plus a masonry garage delivering immediate returns to investors. Renovated in 2023, the property showcases owner-funded enhancements including new HVAC units, a new roof overlay (2022), skim coat garage floor (2025), and updated signage. Covered, surface, and street parking is available on site, as well as an adjacent lot for potential expansion. Strategically situated just half a block from the intersection of North and Harlem Ave near the new Rush Outpatient Center.

Positioned at the focal point of Chicago's vibrant business landscape, 7000 W North Ave presents an enticing opportunity for office investors. The area is teeming with an eclectic mix of dining, retail, medical and leisure establishments, catering to the diverse needs of employees and visitors. Set near the thriving commercial hub of Oak Park, the location offers a perfect blend of suburban tranquility and urban vitality. The property is located in the Galewood neighborhood of Chicago on the border of Oak Park, just a 1/2 mile east of Harlem Avenue.

Investment highlights

  • ±17,850 SF Office building with 17 executive units and Garage Lot

  • Renovated in 2022 | New HVAC units | Roof Overlay

  • 100% occupancy allows for Carry Costs when going through approvals. | Open Lobby

  • Versatile parking options: covered, surface, and street

  • Additional lot included with the garage

Listing Contacts

AL
IL IL 471015537, CO CO IA.100086731
SVN | Chicago Commercial
SVN | Chicago Commercial
Listed by SVN | Chicago Commercial

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$166,941.00
$13,911.75/mo

Valuation Metrics

0
DSCR
12.37%
Cap Rate
12.37%
ROI

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Additional Information

Name
Albert Lindeman
License
IL 471015537
Brokerage
SVN | Chicago Commercial
Name
Karen Kulczycki-CCIM, SIOR
License
IL #471-020279
Brokerage Phone
630-330-3352
Brokerage Address
940 West Adams Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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