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HomeSmart Realty
16035 Laramie Avenue, Oak Forest, Illinois 60452
- $895,000
- Sold Price
- $895,000
- List Price
- $950,000
- Closing Date
- Jul 31, 2025
- MLS#
- 12362933
- Status
- CLOSED
- Type
- Commercial
- Subtype
- Commercial Sale
- County
- Cook
- City
- Oak Forest
- Neighborhood
- Oak Forest
- Days On Market
- 44
Property Description
This gorgeous, well-constructed brick building in the heart of Oak Forest stands out with thoughtful architectural details, a spacious lot with ample rear parking, and a scenic wooded creek adjacent to the property, offering a serene and natural setting. A prime investment opportunity with significant value-add potential, the property has room for rent increases to market rates, making it ideal for investors seeking stable income and long-term growth. Oak Forest is a thriving community known for top-rated schools, welcoming neighborhoods, and excellent access to transportation and amenities. Conveniently located near downtown Oak Forest, the property offers easy access to shopping, dining, and entertainment. The nearby Metra station provides a quick commute to downtown Chicago, while proximity to major highways, including I-57, I-294, and I-80, ensures seamless travel. Outdoor enthusiasts will appreciate the area's forest preserves, walking and biking trails, and golf courses. This rarely available investment opportunity in a sought-after neighborhood offers strong rental demand and long-term appreciation. Schedule your private tour today!Incredible Investment Opportunity - 16035 Laramie Avenue Rare chance to own a high-income, well-maintained multi-unit building in a prime location! This property features 7 total units (6 legal + 1 in final stages of approval)-with only two minor conditions remaining to make the 7th unit fully legal per Village requirements. All tenants are long-term and leases are ending this summer, giving new ownership full flexibility to renew at higher market rents or bring in new tenants. Current ownership group purchased the property three years ago with no intention of selling-but due to one partner relocating out of state, they're ready to pass the torch. If a strong offer isn't received, the owners will continue to hold this money-making asset-so don't miss your chance to invest in a building with upside, stability, and location. Whether you're looking to expand your portfolio or make your first major investment, 16035 Laramie is a smart move.
Additional Information
- Tax Year
- 2023
- Year Built
- 1978
- Lot Dimensions
- 10150
- Air Conditioning
- Wall Sleeve
- Basement
- Yes
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Listings courtesy of Midwest Real Estate Data as distributed by MLS Grid
Selling Office: ARNI Realty Incorporated.
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