323 Oak Ridge Ave Hillside, IL 60162
- Commercial real estate
- 0.38 lot acres
Current Use by Public Records
- Oakridge Healthcare Center / Nursing Home / Rehabilitation Center
- Aperion Care Hillside / Nursing Home
- Samir Bhalla / Geriatrician / Internist
- Muhammad Haque / Physiatrist
- Muhammad Shamimul Haque / Sports Medicine Physician
Property Details for 323 Oak Ridge Ave
- Year built
- 1963
- Lot size
- 0.38 lot acres
- Property type
- Commercial real estate
- APN
- 15-17-413-052
- APU
- 1517413052
Description
This exceptional redevelopment opportunity presents a substantial 20,482 square foot property located at 323 Oak Ridge Avenue in Hillside, Illinois. Currently configured as a 73-bed nursing home, this property is soon to be closed, offering a blank canvas for a variety of exciting new ventures. The expansive 1.43-acre lot is zoned R-4, providing significant flexibility for future development plans. Its tranquil location on a quiet street, just off Roosevelt Road, offers a peaceful setting while maintaining convenient access to major thoroughfares. The substantial square footage and generous lot size present a rare opportunity for developers seeking a prime location in a desirable area. The property's existing infrastructure provides a solid foundation for a range of potential projects, from residential to commercial developments. Given the zoning and size, this property is well-suited for multi-family housing, assisted living facilities, or other high-density projects. The quiet neighborhood adds to the appeal, offering a desirable living environment for future residents. This is a unique chance to acquire a significant piece of land with considerable potential in a growing community. Serious inquiries are encouraged to explore the possibilities this property offers. The property is priced at $995,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $315,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $400,000
- 6.5%
- $375,000
- 7%
- $395,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $365,000
- Geo Method
- $340,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $370,000
- Retail
- $360,000
- Mixed-Use
- $415,000
- Hospitality
- $355,000
- Educational
- $435,000
- Residential Income
- $440,000
- Energy
- $325,000
- Income-Based Land
- $395,000
- Food Service
- $320,000
Location Insight
- Map
- Local Demand
- City
- Hillside
- County
- Cook
- State
- Illinois
- Longitude
- -87.8877
- Latitude
- 41.8648
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA