Oak Terrace Apartments

About Oak Terrace Apartments

Oak Terrace Apartments sits at 15708 Terrace Drive in Oak Forest near the corner of Terrace Drive and 157th Street. The building is a 3-story low-rise condo. The property contains 7 units spread over three floors. Street access is direct from Terrace Drive and local lanes. The Little Calumet River lies just south of the site. The river is a local landmark and shapes nearby green space. Neighborhood blocks run on a grid with short residential streets and some mature trees lining the sidewalks. The structure was built in 1974. Units have 1 and 2 bedrooms and range from 1,050 to 1,150 sq ft. Floor plates keep layouts compact and rooms open to light. Unit sizes stay within a narrow band so most homes feel similar in scale. Closed sales ran from $120,000 to $140,000 over the last year. The average closed price is $120,000 and the price per sq ft is $127. Homes spend about 108 days on the market on average. Price movement has been steady in recent months. On-site amenities include a park, a spa/hot tub, tennis courts, a pool, a sundeck, and a party room. The shared spaces give options for outdoor time and small events. Nearby businesses include Bella Flowers, La Finca Grill, and Jamaica Jerk Choice, which sit a short drive from the building.