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    147th St & Ravinia Ave Palos Park, IL 60464

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    For Sale
    Contact for pricing

    2.33 Acres, VCD Zoning, Build-to-Suit Available

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 2.33-acre commercial land parcel presents a unique investment opportunity in the thriving Village Center District (VCD) of Palos Park, Illinois. Located at the intersection of 147th Street and Ravinia Avenue, this property boasts convenient access to essential amenities and boasts significant development potential. The site is fully improved with utilities already in place, eliminating costly infrastructure hurdles. An existing common shared detention system further streamlines the development process. The property's strategic location adjacent to the Village Hall provides high visibility and accessibility. The seller is open to exploring various development scenarios, including build-to-suit options tailored to a buyer's specific needs, or a ground lease arrangement. Given the VCD zoning, a wide range of uses are permitted, making this an ideal location for medical facilities, office spaces, daycare centers, multi-family residential developments, or senior housing projects. This prime location in Cook County, Illinois, offers a compelling combination of convenience, infrastructure, and zoning flexibility, making it an attractive proposition for discerning investors and developers seeking a high-impact project in a desirable community. The zip code is 60464. This is a rare opportunity to acquire a significant land parcel in a prime location with a multitude of development possibilities.

    Property Features for 147th St & Ravinia Ave

    General Information

    Property type
    Land
    Lot Size
    101,495 SF

    HighLights

    • Fully improved site with utilities in place.
    • Existing shared detention system.
    • Build‑to‑suit or ground lease options available.
    • Prime location adjacent to Village Hall.
    • Suitable for medical, office, daycare, multifamily, or senior housing development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Palos Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.8844309
    Latitude
    41.671536

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    FAQs

    What type of property is this?
    Land - 2.33 Acres, VCD Zoning, Build-to-Suit Available
    Where is this land located?
    The property is located at 147th St & Ravinia Ave Palos Park, IL.
    What are key features of this property?
    This property features: Fully improved site with utilities in place.; Existing shared detention system.; Build-to-suit or ground lease options available.
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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
    147th St & Ravinia Ave Palos Park, IL 60464
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