Strip Center with Vacant Former Grocery in Melrose Park Retail Submarket

601 S. 25th Ave Bellwood, IL 60104

601 S. 25th Ave, Bellwood, IL, 60104
601 S. 25th Ave, Bellwood, IL, 60104
FOR SALE Auction Property
Property Type:
Strip Center
Last Verified:
Jan 18, 2021

New Minimum Bid/Published Reserve Price: $1,700,000 (Reduced from $1,900,000)

Buyer's Premium: 6%

Cooperating Broker's Commission: 2%

Year Built: 2000

Lot Size: Approx. 2.03 Acres / 88,859 SF

Entire Center: Approx. 28,858 SF

Parking: Approx. 60 Cars; 2.01/1,000

PIN #s: 15-10-316-042-1001; 15-10-316-042-1002; 15-10-316-042-1003 (PIN#s 1002/1003 have the 7c tax incentive; 615-625)

Zoning: B1(Retail/Office)

Traffic Counts: 23,800 VPD (25th Avenue); 12,100 VPD (Washington Blvd.)

This newly remodeled strip center has 4 retail units consisting of an approximately 15,757 sf, vacant former Save-A-Lot grocery store (unit 625); an approximately 9,373 sf store leased to Beauty Gallery (unit 601); an approximately 1,999 sf store leased to Chicago Trading (unit 617); and an approximately 1,729 sf, vacant retail store adjacent to the former grocery store (unit 615).

Located in Bellwood, Illinois at the corner of 25th Avenue and Washington Blvd. in the Melrose Park Retail Submarket.

Online Auction Bidding Starts at 11 AM CST Wednesday, July 22, 2020 and ends Friday, July 24, 2020, 11 AM CST

New Minimum Bid/Published Reserve Price: $1,900,000 (Reduced from $2,000,000)

Buyer's Premium: 6%

Cooperating Broker's Commission: 2%

Pre-Auction Bids Highly Encouraged!

Additional URLs

Map of 601 S. 25th Ave, Bellwood, IL, 60104

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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."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.