The Village of Oak Park last week hired a commercial real estate broker to get rid of unwanted properties it owns around town.
David King – who owns his own Oak Park-based commercial real estate firm, David King & Associates – has worked in the area for 26 years and has had a hand in bringing an array of businesses to the village, most recently a Venezuelan restaurant on Marion Street called Aripo’s.
Other leases he has brokered in Oak Park include Flat Top Grill, Oberweis, Fuego Loco and The Book Table. His company has properties listed in 17 suburban communities.
The village sent a request out to 14 firms (seven in Oak Park), looking for someone to market four properties that it has for sale. Three firms responded; among those, Oak Park picked King’s. The village board approved a contract with his company at a meeting last week.
The four properties to be marketed are 2-10 Chicago Ave. (Jamaican Grill), 1112-1118 Westgate, 1113 Lake (formerly Los Cazadores Mexican restaurant) and 250-260 Madison (former Volvo dealership). It will be up to the village board which of the four properties King markets, says Bob Clements, former Oak Park redevelopment manager.
“They’re all attractive properties; it’s just a question of finding the person who is most attracted to them,” King said. “I’m the matchmaker. That’s my job.”
King will earn 5 to 6 percent of the sales price. He plans to market the properties through advertising, real estate databases, flyers and networking.
King also represents the City of Elmhurst in the management and leasing of two office properties. He’s worked for Oak Park before, most recently managing the Colt building on Lake Street, which was recently razed.
CONTACT: mstempniak@wjinc.com