Madison & Carpenter — Lease in Oak Park, IL

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Retail Business
  • Location: Oak Park, IL 60302

Photos

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Description

Steps away from The Bend, a brand new development featuring 39 residential condominiums with 113,140 SF of retail space

Market Context

This retail in Oak Park, IL is listed for lease. Compare it against other retail listings for lease in Oak Park, IL — view the full market.

As of Q4 2025, the Chicago retail market showed a 5.1% vacancy rate, average asking rents near $19.00/SF/yr, rents up 2.4% year over year, and cap rates around 7.9%. Source: multiple brokerage reports, Q4 2025.

Rising rents point to a competitive market where well-priced, well-located space leases quickly.

Retail market FAQ

What is the typical cap rate for retail in Chicago?
About 7.9% as of Q4 2025, per multiple brokerage reports.
Is the Chicago retail market tightening or softening?
Vacancy is around 5.1%, with asking rents rising year over year (Q4 2025).

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