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    323 Oak Ridge Ave Hillside, IL 60162

    Sponsored
    For Sale
    $995,000

    1.43-acre R-4 zoned property, 20,482 sqft.

    Property size:
    20,482 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional redevelopment opportunity presents a substantial 20,482 square foot property located at 323 Oak Ridge Avenue in Hillside, Illinois. Currently configured as a 73-bed nursing home, this property is soon to be closed, offering a blank canvas for a variety of exciting new ventures. The expansive 1.43-acre lot is zoned R-4, providing significant flexibility for future development plans. Its tranquil location on a quiet street, just off Roosevelt Road, offers a peaceful setting while maintaining convenient access to major thoroughfares. The substantial square footage and generous lot size present a rare opportunity for developers seeking a prime location in a desirable area. The property's existing infrastructure provides a solid foundation for a range of potential projects, from residential to commercial developments. Given the zoning and size, this property is well-suited for multi-family housing, assisted living facilities, or other high-density projects. The quiet neighborhood adds to the appeal, offering a desirable living environment for future residents. This is a unique chance to acquire a significant piece of land with considerable potential in a growing community. Serious inquiries are encouraged to explore the possibilities this property offers. The property is priced at $995,000.

    Property Features for 323 Oak Ridge Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    20,482 SF
    Lot Size
    62,291 SF

    Building Details

    Year Built
    1976
    Property Profile Location Intelligence

    Current Use by Public Records

    Oakridge Healthcare Center Nursing Home Aperion Care Hillside Nursing Home Samir Bhalla Geriatrician Muhammad Haque Physiatrist Muhammad Shamimul Haque Sports Medicine Physician

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hillside
    County
    Cook
    State
    Illinois
    Longitude
    -87.88813
    Latitude
    41.86488

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    FAQs

    What type of property is this?
    Commercial real estate - 1.43-acre R-4 zoned property, 20,482 sqft.
    Where is this commercial real estate located?
    The property is located at 323 Oak Ridge Ave Hillside, IL.
    What is the asking price?
    The asking price for this property is $995,000.
    (312) 751-0300
    Request Owner's contact information
    323 Oak Ridge Ave Hillside, IL 60162
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    Hillside, IL 60162
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    323 Oak Ridge Ave Hillside, IL 60162
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