This listing is under contract.

LAND - REDEVELOPMENT - 3.39 Acres - Westchester Office Center Redevelopment Opportunity - Westchester, IL

1107 South Mannheim Road Westchester, IL 60154

1107 South Mannheim Road, Westchester, IL, 60154
1107 South Mannheim Road, Westchester, IL, 60154
UNDER CONTRACT FOR SALE
Property Type:
Other Land
Amount:
$2,500,000
Last Verified:
Jun 10, 2020

Highlights

  • •3.39 Acres of Develop-able Land Near Busy Signalized Corner
  • •Excellent Visibility from Both Mannheim Road (Route 45) and Roosevelt Road (Route 38)
  • •Excellent Traffic Counts of Over 66,000 Vehicles per Day
  • •Half Mile from Interstate 290 / Mannheim Road Interchange
  • •The Village of Westchester Welcomes New Development
  • •Due to Size of Property, Potential Uses for Income Producing Development is Vast

 

Description

Marcus & Millichap is pleased to present the opportunity to redevelop a 3.39-acre property located in Westchester, Illinois. Currently the property is comprised of three office buildings of various occupancy and condition. The highest and best use for the property will be for a new development of an alternate use. Due to the size of the parcel, traffic counts, frontage and the willingness of the city to redevelop the site, the opportunities are endless. The current owner has had discussions with the city regarding options for the site, paving the way for the new owner to move through the development process.

The property has excellent visibility from both Mannheim Road (Route 45) and Roosevelt Road (Route 38) and although it does not include the corner there is approximately 414 feet along Mannheim Road and approximately 131 feet of frontage on Roosevelt Road. The all-important average daily traffic counts according to IDOT show over 66,000 combined cars passing through the intersection.

Marcus & Millichap is pleased to present the opportunity to redevelop a 3.39-acre property located in Westchester, Illinois. Currently the property is comprised of three office buildings of various occupancy and condition. The highest and best use for the property will be for a new development of an alternate use. Due to the size of the parcel, traffic counts, frontage and the willingness of the city to redevelop the site, the opportunities are endless. The current owner has had discussions with the city regarding options for the site, paving the way for the new owner to move through the development process.

The property has excellent visibility from both Mannheim Road (Route 45) and Roosevelt Road (Route 38) and although it does not include the corner there is approximately 414 feet along Mannheim Road and approximately 131 feet of frontage on Roosevelt Road. The all-important average daily traffic counts according to IDOT show over 66,000 combined cars passing through the intersection.

 

Year Built: 1971
Building Size: 165528.0sq ft
Building Class: B
Lot Size: 3.39 acres

Map of 1107 South Mannheim Road, Westchester, IL, 60154

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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