4935 Oakton Street, Skokie, Illinois 60077

Property Description

Rare opportunity to acquire or lease a highly visible commercial property at the signalized corner of Oakton Street and Niles Avenue in the heart of Downtown Skokie. This approximately 7,000 SF single-story retail/showroom building offers approximately 79 feet of Oakton Street frontage, exposure to approximately 19,050 vehicles per day, 8 dedicated parking spaces, additional street/public parking, and outstanding visibility from one of Downtown Skokie's prominent intersections. The property has been occupied by an established upscale furniture showroom since 1992, demonstrating the location's long-term strength as a destination retail property. Ideal for an owner-user, investor, developer, showroom, specialty retailer, service business, restaurant/QSR concept, medical/wellness use, or regional/national tenant, subject to applicable zoning and Village approvals. PROPERTY HIGHLIGHTS Approximately 6,987-7,000 SF Approximately 0.21-acre site Approximately 79' frontage on Oakton Street Signalized hard-corner location Approximately 19,050 vehicles per day CX - Core Mixed-Use zoning Significant redevelopment potential Approximately 8 dedicated parking spaces Approximately 3 blocks from the Oakton-Skokie CTA Yellow Line station Minutes from I-94 / Edens Expressway Available for sale, owner occupancy, redevelopment, investment or lease Potentially divisible to approximately 2,000 SF minimum The CX - Core Mixed-Use zoning provides substantial flexibility for commercial and mixed-use development and is intended to promote pedestrian-oriented retail, services, office, residential and mixed-use projects within Downtown Skokie. Subject to Village approvals and development requirements, the zoning may provide opportunities for substantially greater density and building height than the existing improvements. The property is also located within the Oakton-Niles Tax Increment Financing (TIF) District. TIF - Tax Increment Financing - is an economic-development program through which increases in property-tax revenue generated within a designated redevelopment district may be used by the municipality to support qualifying infrastructure and redevelopment costs. For developers, this can potentially create additional economic-development opportunities, subject to Village approval and negotiated incentives. OUTSTANDING DOWNTOWN LOCATION Located within walking distance of the Oakton-Skokie CTA station, Skokie Village Hall, Skokie Public Library, restaurants, retail, residential neighborhoods and major employers, this property is positioned in the center of an area experiencing continued residential and commercial investment. Directly across Oakton Street is the approximately 23-acre Illinois Science + Technology Park, a major employment, research and technology campus that has brought more than 1,500 jobs to the area and provides significant additional growth potential. Nearby developments include Highpoint at 8000 North, a major mixed-use project featuring 153 luxury residential units and ground-floor commercial space, along with additional residential and commercial projects that continue to increase Downtown Skokie's population, employment base and pedestrian activity. Strong area demographics, excellent North Shore access, CTA transportation and continued Village investment make this an exceptional opportunity for both long-term investors and businesses seeking a high-profile Downtown Skokie location. FOR LEASE Base Rent: $18.00/SF Real Estate Taxes: Approximately $7.50/SF CAM: Approximately $1.00/SF Available Space: Up to approximately 7,000 SF Minimum Divisible: Approximately 2,000 SF Excellent opportunity for local, regional or national retailers, restaurants/QSR operators, showroom users, service businesses, medical/wellness operators and other qualified commercial tenants. OWNER-USER | INVESTMENT | REDEVELOPMENT | RETAIL | QSR | MIXED-USE | FOR LEASE A highly visible signalized c