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    615 5Th Ave Maywood, IL 60153

    Sponsored
    For Sale
    $450,000

    Prime Retail Land, High-Growth Area

    Property size:
    22,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity presents a vacant, 22,000-square-foot retail building situated on a substantial 61,207-square-foot lot in the Village of Maywood, Illinois. The property, located at 615 S. 5th Ave, boasts 200 feet of frontage on 5th Avenue, at a busy intersection with Washington Boulevard. Previously occupied by Maywood Market, the building still contains operational refrigeration equipment. Ample paved parking is available on the west and north parcels. This C-2 zoned property offers significant value-add potential, especially considering the recent groundbreaking of a new five-story mixed-use development directly across the street. This new development will include 4,500 square feet of ground-level retail and 68 residential units, significantly increasing foot traffic and demand in the immediate vicinity. The asking price is $450,000, translating to $20.45 per square foot for the building and $12 per square foot for the land. The property consists of three contiguous lots and presents a unique chance to capitalize on the revitalization of this central Maywood location. The building is a two-story Class B structure, and the occupancy date is April 1, 2020. This is a rare opportunity to acquire a substantial retail property in a rapidly developing area.

    Property Features for 615 5Th Ave

    General Information

    Property type
    Land
    Square Feet
    22,000 SF
    Class
    B

    Building Details

    Buildings
    1
    Stories
    2

    HighLights

    • $450,000 asking price for a value‑add retail and land development opportunity.
    • 22,000 square foot building on a 61,207 square foot lot, with a $20.45 price per square foot.
    • Located at 615 S 5th Ave, Maywood, IL 60153, in Cook County.
    • C‑2 zoning.
    • Vacant, former grocery store with existing refrigeration equipment.
    Property Profile Location Intelligence

    Current Use by Public Records

    O’Donnell Heating & Air ... Hvac Contractor

    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
    Maywood
    County
    Cook
    State
    Illinois
    Longitude
    -87.8388371
    Latitude
    41.8789589

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    FAQs

    What type of property is this?
    Land - Prime Retail Land, High-Growth Area
    Where is this land located?
    The property is located at 615 5Th Ave Maywood, IL.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: $450,000 asking price for a value-add retail and land development opportunity.; 22,000 square foot building on a 61,207 square foot lot, with a $20.45 price per square foot.; Located at 615 S 5th Ave, Maywood, IL 60153, in Cook County.
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    Maywood, IL 60153
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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
    615 5Th Ave Maywood, IL 60153
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