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    49-59 North St Park Forest, IL 60466

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    For Sale
    Contact for pricing

    12,600 SF Retail Center, 6 Units

    Property size:
    12,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional 12,600 square foot free-standing retail shopping center in Park Forest, Illinois, presents a compelling investment opportunity. Located at 49-59 North Street, zip code 60466, the property boasts six individual 2,100 square foot units, each featuring office/mezzanine space and a bathroom. The building is well-maintained and features an asphalt stone roof, updated LED lighting, and all new emergency exit doors on the south side. The parking lot was completely redone in 2020, ensuring ample parking for tenants and customers. Further enhancing its appeal is a triple catch basin drainage system. This property is uniquely positioned to benefit from potential Class 8 tax incentives and is approved for cannabis-related businesses. The single-story building offers excellent visibility and accessibility, making it an ideal location for a variety of retail ventures. Its strong infrastructure and recent upgrades make it a low-maintenance, high-return investment. The property's location in Park Forest, Illinois provides access to a thriving community and strong consumer base. This is a rare opportunity to acquire a well-maintained, versatile retail center with significant upside potential.

    Property Features for 49-59 North St

    General Information

    Property type
    Lifestyle centers
    Square Feet
    12,600 SF

    Building Details

    Buildings
    1
    Stories
    1
    Units
    6

    HighLights

    • 12,600 SF free‑standing retail center in Park Forest, IL (60466), located at 49‑59 North Street.
    • Six 2,100 SF units, each with office/mezzanine & bathroom.
    • Well‑maintained building with asphalt stone roof, updated LED lighting, and new emergency exit doors.
    • Ample parking (lot redone in 2020) and triple catch basin drainage system.
    • Potential Class 8 tax incentives and cannabis business approval.
    • Excellent visibility, accessibility, and strong consumer base.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Park Forest
    County
    Cook
    State
    Illinois
    Longitude
    -87.679324651767
    Latitude
    41.497625756155

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    FAQs

    What type of property is this?
    Lifestyle center - 12,600 SF Retail Center, 6 Units
    Where is this lifestyle center located?
    The property is located at 49-59 North St Park Forest, IL.
    What are key features of this property?
    This property features: 12,600 SF free-standing retail center in Park Forest, IL (60466), located at 49-59 North Street.; Six 2,100 SF units, each with office/mezzanine & bathroom.; Well-maintained building with asphalt stone roof, updated LED lighting, and new emergency exit doors.
    Request Owner's contact information
    49-59 North St Park Forest, IL 60466
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    Park Forest, IL 60466
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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
    49-59 North St Park Forest, IL 60466
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