555 Burnham Ave Calumet City, IL

This two-story, vacant office building, formerly a BMO Harris Bank facility, offers 26,510 rentable square feet and includes an improved basement area and three exterior drive-through lanes. The building features an elevator, a roof and HVAC system approximately 10 years old with warranty, and a lower level with a fireplace and additional office areas. The property is situated on 1.79 acres, zoned B: Commercial Business District, which allows for a wide range of uses including office, business and professional, medical clinics, retail and service uses. It includes two parking lots accommodating up to 118 vehicles: one adjacent to the building with 46 spaces and another across the street with 72 spaces. The ground floor previously served as a retail bank branch, while the second floor houses administrative office space, including several extensively built-out executive office suites. The property is located in Calumet City and presents tremendous potential for an owner-user, investor, or developer. Economic incentives are available, including being located in The Calumet Region Enterprise Zone, which provides fee waivers on renovation work. The property is also eligible for a Class 8 incentive, which substantially reduces the real estate tax assessment, and is in an Opportunity Zone, allowing for capital gain tax deferrals in certain circumstances.