8465 grand avenue
PRICE REDUCTION - BANK OWNED COMMERCIAL REDEVELOPMENT 8465 GRAND AVENUE RIVER GROVE, IL 60171
BUILDING SF 20,580
LAND SF 56,833
TAXES $63,483
PIN 12-26-309-063-0000
ZONED C1
MAX HT 45’
SALE PRICE $750,000 $550,000 UNDER $10.00 PSF!
FOR SALE
The subject property consists of a land parcel constituting 56,833 square feet. It is improved with a 57-year old 20,580 square foot commercial building, previously utilized as a bowling alley, along with a 1,606 Sq. Ft. coach house. The property is currently vacant. The lot size is irregular consisting of 216’ of frontage on Grand Ave, 295’ of depth on the east side and 245’ of depth on the west side.
STATISTICS
1 MILE
3 MILE
5 MILE
Population
18,730
201,784
620,892
Households
7,217
70,244
217,093
» Land Area: 56,833 Sq. Ft. » Building Area: 20,580 Sq. Ft.
Average HHI
$61,270
$72,728
$71,195
AREA HIGHLIGHTS
PROPERTY HIGHLIGHTS
» River Grove Elementary School – ½ block » River Grove Metra Station – 4 blocks » River Grove Public Library – 2 blocks
MATTHEW KATSAROS Senior Associate (P) 312.335.3292 (C) 312.375.7089 // (eFax) 312.229.9193 // [email protected] jamesoncommercial.com ©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.
BANK OWNED COMMERCIAL REDEVELOPMENT 8465 GRAND AVENUE RIVER GROVE, IL 60171
Plat of Survey
SURVEY
MATTHEW KATSAROS Senior Associate (P) 312.335.3292 (C) 312.375.7089 // (eFax) 312.229.9193 // [email protected] jamesoncommercial.com ©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.
BANK OWNED COMMERCIAL REDEVELOPMENT 8465 GRAND AVENUE RIVER GROVE, IL 60171 AERIAL & ROAD MAP
MATTHEW KATSAROS Senior Associate (P) 312.335.3292 (C) 312.375.7089 // (eFax) 312.229.9193 // [email protected] jamesoncommercial.com ©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.
BANK OWNED COMMERCIAL REDEVELOPMENT 8465 GRAND AVENUE RIVER GROVE, IL 60171 ZONING INFORMATION
Property Taxes According to the Cook County Assessor’s records, the subject property is identified by the parcel numbers listed in the following table. Property taxes for the year 2009, payable in 2010 are summarized as follows: PARCEL NUMBER 12-26-309-063-0000
ASSESSED VALUE
REAL ESTATE TAXES
$285,627
$63,482.94
Real estate taxes 2009 payable 2010 were reported by the treasurer to be $63,482.94, which equates to $2.86 per square foot of building area. The 2010 Assessor Certified Assessment shows an increase to $333,524 from the 2009 Board of Review Certified Assessment of $285,267, or a 14.5% increase.
Zoning According to the River Grove Zoning Ordinance, the subject site is zoned C1. The purpose of the C1 MixedUse Storefront Commercial District is to promote development of storefront space and provide for a mix of retail, personal service, office and residential uses. It should maintain a traditional village center character, distinguished by ground floor commercial and a pedestrian-orientation, with storefronts opening to the public sidewalk. Residential dwelling units are only permitted above the ground floor. Permitted uses include indoor entertainment and recreation. SUBJECT ZONING Minimum Lot Area Maximum Building Height Minimum Yards: Minimum Parking
None 45 feet Varied 2 spaces per bowling alley lane
Conforms (Yes/No)
Yes Yes Yes Yes
The subject is considered a non-conforming use, due to a ground level coach house, as residential units are limited to above ground level and the subject property has been vacant for more than 180 days. Per River Grove zoning ordinance, if a legal non-conforming use is abandoned for 180 days or more, the illegal portion of the improvement must be removed. The coach house is therefore valued only as additional building square footage, and not as a separate residential unit.
MATTHEW KATSAROS Senior Associate (P) 312.335.3292 (C) 312.375.7089 // (eFax) 312.229.9193 // [email protected] jamesoncommercial.com ©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.
BANK OWNED COMMERCIAL REDEVELOPMENT 8465 GRAND AVENUE RIVER GROVE, IL 60171 DEMOGRAPHICS
1 MILE RADIUS
3 MILE RADIUS
5 MILE RADIUS
TOTAL POPULATION // 18,730
TOTAL POPULATION // 201,784
TOTAL POPULATION // 620,892
MEDIAN AGE // 40.7
MEDIAN AGE // 37.7
MEDIAN AGE // 36.5
MEDIAN HH INCOME // $54,613
MEDIAN HH INCOME // $61,111
MEDIAN HH INCOME // $60,298
PER CAPITA INCOME // $24,034
PER CAPITA INCOME // $25,591
PER CAPITA INCOME // $25,087
AVERAGE HH INCOME // $61,270
AVERAGE HH INCOME // $72,728
AVERAGE HH INCOME // $71,195
TOTAL HOUSEHOLDS // 7,217
TOTAL HOUSEHOLDS // 70,244
TOTAL HOUSEHOLDS // 217,093
AVERAGE HOUSEHOLD SIZE // 2.55
AVERAGE HOUSEHOLD SIZE // 2.83
AVERAGE HOUSEHOLD SIZE // 2.83
OWNER OCCUPIED HOUSING UNITS // 4,694
OWNER OCCUPIED HOUSING UNITS // 48,089
OWNER OCCUPIED HOUSING UNITS // 134,083
RENTER OCCUPIED HOUSING UNITS // 2,522
RENTER OCCUPIED HOUSING UNITS // 22,154
RENTER OCCUPIED HOUSING UNITS // 83,011
POPULATION // 2010
INCOME // 2010
HOUSEHOLDS // 2010
HOUSING // 2010
MATTHEW KATSAROS Senior Associate (P) 312.335.3292 (C) 312.375.7089 // (eFax) 312.229.9193 // [email protected] jamesoncommercial.com ©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.
BUILDING SF 20,580
LAND SF 56,833
TAXES $63,483
PIN 12-26-309-063-0000
ZONED C1
MAX HT 45’
SALE PRICE $750,000 $550,000 UNDER $10.00 PSF!
FOR SALE
The subject property consists of a land parcel constituting 56,833 square feet. It is improved with a 57-year old 20,580 square foot commercial building, previously utilized as a bowling alley, along with a 1,606 Sq. Ft. coach house. The property is currently vacant. The lot size is irregular consisting of 216’ of frontage on Grand Ave, 295’ of depth on the east side and 245’ of depth on the west side.
STATISTICS
1 MILE
3 MILE
5 MILE
Population
18,730
201,784
620,892
Households
7,217
70,244
217,093
» Land Area: 56,833 Sq. Ft. » Building Area: 20,580 Sq. Ft.
Average HHI
$61,270
$72,728
$71,195
AREA HIGHLIGHTS
PROPERTY HIGHLIGHTS
» River Grove Elementary School – ½ block » River Grove Metra Station – 4 blocks » River Grove Public Library – 2 blocks
MATTHEW KATSAROS Senior Associate (P) 312.335.3292 (C) 312.375.7089 // (eFax) 312.229.9193 // [email protected] jamesoncommercial.com ©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.
BANK OWNED COMMERCIAL REDEVELOPMENT 8465 GRAND AVENUE RIVER GROVE, IL 60171
Plat of Survey
SURVEY
MATTHEW KATSAROS Senior Associate (P) 312.335.3292 (C) 312.375.7089 // (eFax) 312.229.9193 // [email protected] jamesoncommercial.com ©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.
BANK OWNED COMMERCIAL REDEVELOPMENT 8465 GRAND AVENUE RIVER GROVE, IL 60171 AERIAL & ROAD MAP
MATTHEW KATSAROS Senior Associate (P) 312.335.3292 (C) 312.375.7089 // (eFax) 312.229.9193 // [email protected] jamesoncommercial.com ©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.
BANK OWNED COMMERCIAL REDEVELOPMENT 8465 GRAND AVENUE RIVER GROVE, IL 60171 ZONING INFORMATION
Property Taxes According to the Cook County Assessor’s records, the subject property is identified by the parcel numbers listed in the following table. Property taxes for the year 2009, payable in 2010 are summarized as follows: PARCEL NUMBER 12-26-309-063-0000
ASSESSED VALUE
REAL ESTATE TAXES
$285,627
$63,482.94
Real estate taxes 2009 payable 2010 were reported by the treasurer to be $63,482.94, which equates to $2.86 per square foot of building area. The 2010 Assessor Certified Assessment shows an increase to $333,524 from the 2009 Board of Review Certified Assessment of $285,267, or a 14.5% increase.
Zoning According to the River Grove Zoning Ordinance, the subject site is zoned C1. The purpose of the C1 MixedUse Storefront Commercial District is to promote development of storefront space and provide for a mix of retail, personal service, office and residential uses. It should maintain a traditional village center character, distinguished by ground floor commercial and a pedestrian-orientation, with storefronts opening to the public sidewalk. Residential dwelling units are only permitted above the ground floor. Permitted uses include indoor entertainment and recreation. SUBJECT ZONING Minimum Lot Area Maximum Building Height Minimum Yards: Minimum Parking
None 45 feet Varied 2 spaces per bowling alley lane
Conforms (Yes/No)
Yes Yes Yes Yes
The subject is considered a non-conforming use, due to a ground level coach house, as residential units are limited to above ground level and the subject property has been vacant for more than 180 days. Per River Grove zoning ordinance, if a legal non-conforming use is abandoned for 180 days or more, the illegal portion of the improvement must be removed. The coach house is therefore valued only as additional building square footage, and not as a separate residential unit.
MATTHEW KATSAROS Senior Associate (P) 312.335.3292 (C) 312.375.7089 // (eFax) 312.229.9193 // [email protected] jamesoncommercial.com ©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.
BANK OWNED COMMERCIAL REDEVELOPMENT 8465 GRAND AVENUE RIVER GROVE, IL 60171 DEMOGRAPHICS
1 MILE RADIUS
3 MILE RADIUS
5 MILE RADIUS
TOTAL POPULATION // 18,730
TOTAL POPULATION // 201,784
TOTAL POPULATION // 620,892
MEDIAN AGE // 40.7
MEDIAN AGE // 37.7
MEDIAN AGE // 36.5
MEDIAN HH INCOME // $54,613
MEDIAN HH INCOME // $61,111
MEDIAN HH INCOME // $60,298
PER CAPITA INCOME // $24,034
PER CAPITA INCOME // $25,591
PER CAPITA INCOME // $25,087
AVERAGE HH INCOME // $61,270
AVERAGE HH INCOME // $72,728
AVERAGE HH INCOME // $71,195
TOTAL HOUSEHOLDS // 7,217
TOTAL HOUSEHOLDS // 70,244
TOTAL HOUSEHOLDS // 217,093
AVERAGE HOUSEHOLD SIZE // 2.55
AVERAGE HOUSEHOLD SIZE // 2.83
AVERAGE HOUSEHOLD SIZE // 2.83
OWNER OCCUPIED HOUSING UNITS // 4,694
OWNER OCCUPIED HOUSING UNITS // 48,089
OWNER OCCUPIED HOUSING UNITS // 134,083
RENTER OCCUPIED HOUSING UNITS // 2,522
RENTER OCCUPIED HOUSING UNITS // 22,154
RENTER OCCUPIED HOUSING UNITS // 83,011
POPULATION // 2010
INCOME // 2010
HOUSEHOLDS // 2010
HOUSING // 2010
MATTHEW KATSAROS Senior Associate (P) 312.335.3292 (C) 312.375.7089 // (eFax) 312.229.9193 // [email protected] jamesoncommercial.com ©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.
