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    39197 Sheridan Rd Beach Park, IL 60099

    Sponsored
    For Sale
    $349,000

    Lake Michigan views, prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This 8.07-acre commercial and residential land parcel in Beach Park, Illinois, presents a remarkable development opportunity. Located at 39197 N Sheridan Rd, 60099, this property boasts 99 feet of frontage on Sheridan Road, adjacent to a CVS Pharmacy. Currently zoned R-3B, the Village of Beach Park is receptive to rezoning proposals to accommodate various uses. A site concept plan illustrates the potential for a combined senior housing and professional/medical office building. The property's location within both the Sheridan Road Overlay District and the Village's Tax Increment Financing (TIF) District offers significant advantages. With unobstructed Lake Michigan views, a 4-6 story building is feasible. Additional access to Wadsworth Road is possible pending Illinois Department of Natural Resources (IDNR) approval. The property's proximity to Illinois Beach State Park further enhances its desirability. This is an exceptional chance to create a high-impact development in a highly sought-after location. The asking price is $349,000.

    Property Features for 39197 Sheridan Rd

    General Information

    Property type
    Land
    Lot Size
    351,529 SF

    HighLights

    • $349,000 asking price for 8.07 acres of commercial/residential land.
    • Beach Park, IL location with 99 feet of Sheridan Road frontage next to CVS.
    • Potential for a 4‑6 story building with unobstructed Lake Michigan views.
    • R‑3B zoning, with village open to rezoning.
    • Additional Wadsworth Road access possible with IDNR approval.
    • Located in Beach Park's Tiff District and Sheridan Road Overlay District.
    Property Profile Location Intelligence

    Current Use by Public Records

    Longfellow Jamaican Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Beach Park
    County
    Lake
    State
    Illinois
    Longitude
    -87.82561032897
    Latitude
    42.430986714571

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    FAQs

    What type of property is this?
    Land - Lake Michigan views, prime location.
    Where is this land located?
    The property is located at 39197 Sheridan Rd Beach Park, IL.
    What is the asking price?
    The asking price for this property is $349,000.
    What are key features of this property?
    This property features: $349,000 asking price for 8.07 acres of commercial/residential land.; Beach Park, IL location with 99 feet of Sheridan Road frontage next to CVS.; Potential for a 4-6 story building with unobstructed Lake Michigan views.
    Request Owner's contact information
    39197 Sheridan Rd Beach Park, IL 60099
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    Beach Park, IL 60099
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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
    39197 Sheridan Rd Beach Park, IL 60099
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