UrbanStreet Group buys Lake and Forest building for $6.9 million

A downtown Oak Park building complex at 1000 and 1010 Lake Street has been sold. On the website of its real estate lister, CBRE Capital Markets Group, it describes the property:

1000 Lake Street is a two-story, 24,017 square foot, mixed-use structure with retail tenants on the ground level and limited office on the second floor. 1000 Lake Street is currently 52.9% occupied with national and local retailers and flexible lease terms provides upside opportunity. 

1010 Lake Street is a seven-story class B office building measuring approximately 78,169 net rentable area with a mix of local tenants occupying approximately 65.6%.   

According to OakPark.com:

Two mixed-use office buildings in downtown Oak Park were sold last week to UrbanStreet Group LLC for $6.95 million, a deal that could pave the way for another multi-story mixed-use real estate development

Terry McCollom, co-owner of the buildings at 1000 and 1010 Lake St., said in an interview that the deal was completed last Wednesday.

[Read more at OakPark.com]

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