Located in Cook County and in close proximity to the city of Chicago, the largest urban center in both the region and the state at large, Oak Park features a relatively large residential population of nearly 55,000 inhabitants, many of whom take full advantage of this advantageous location. With a relatively young population (the average age here is 38) and a largely affluent residential base, Oak Park is ideal for business owners seeking rental properties for lease, including office space for rent and commercial space for rent, that will provide them with a suitable platform on which to develop a viable enterprise capable of expanding out of the neighborhood zones of this community and further into the region and state at large. Oak Park is home to a wide variety of business across a range of industries and commercial interests.
With median household incomes located at almost 150% of state averages, the majority of the population here enjoys a high degree of purchasing power and financial freedom. The area is widely considered to be classified within a middle-class / upper-middle class income bracket. Residents are often employed within in-demand industries ranging from the professional, scientific and technical services to education and healthcare. The per capita income for Oak Park is approximately $48,000. According to recent statistics, nearly 5% of the population here, including families, lives below the federal poverty line.
The origins of Oak Park are largely attributed to the arrival of Joseph Kettlestrings, who purchased over 100 acres of land here in 1837. In 1902, Oak Park was officially incorporated as a village of Illinois. The area maintains a history of hosting illustrious residents, including Ernest Hemingway, George Trafton and Ray Kroc. Several attractions throughout the area are devoted to preserving and retelling the history of Ernest Hemingway, arguably one of America’s most revered and famous writers of all time. Demographically, Oak Park is largely Caucasian, with nearly 67% of the population classified within this particular ethnic group. Nearly 13,000 families currently reside in Oak Park. Available public transportation options include the Green and Blue train lines within the Chicago Transit Authority system.
Oak Park is one of several Chicago suburbs that has been largely integrated into the economic infrastructure of this urban metropolis. Because of this, business owners seeking office or commercial space for rent in Oak Park will most likely be able to take full advantage of Chicago’s large consumer base, regardless of their specific location within the suburb. Locations near public transportation lines may be attractive for businesses hoping to attract pedestrian traffic.