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!
Based on information submitted to the MLS GRID as of 01/15/2025 06:45 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.
NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.
