8066 111Th St Palos Hills, IL 60465
- Retail space
- 1.83 lot acres
Current Use by Public Records
- Palos Hills Garage Door Repair CO. / Garage Door Supplier
- L.A. TAN / Tanning Salon
Property Details for 8066 111Th St
- Year built
- 1986
- Lot size
- 1.83 lot acres
- Property type
- Retail space
- APN
- 23-14-400-038
- APU
- 2314400038
Description
This exceptional 25,000 square foot, single-story retail center, built in 1988 and renovated in 2023, is located at 8066 W 111th St, Palos Hills, IL 60465, at the intersection of 111th Street and Roberts Road. The property sits on a 3-acre lot and offers 14 suites, with 9,500 square feet currently vacant. Spaces range from a minimum of 1,000 square feet to a maximum contiguous space of 5,500 square feet. The center boasts dual-sided pylon signage providing excellent visibility to the nearly 11,000 vehicles that travel 111th Street daily. Benefit from the proximity to major retailers including Walgreens, McDonald's, Taco Bell, Pizza Hut, and Ace Hardware. Ample parking is available with 200 spaces. The property is zoned commercial (Class B) and enjoys a prime location across from Stagg High School and one mile west of Moraine Valley Community College. The Palos Hills area is experiencing significant growth, with the population increasing from 17,617 to 19,212. Further enhancing the location's appeal, millions of dollars are being invested in the 111th Street corridor, including a new Starbucks at the hard corner of 111th and Roberts Road, and a new townhome development is underway next door. This presents a unique opportunity for businesses to thrive in a rapidly developing and highly visible location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $590,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $650,000
- 6.5%
- $640,000
- 7%
- $745,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $670,000
- Geo Method
- $680,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $730,000
- Retail
- $610,000
- Mixed-Use
- $700,000
- Hospitality
- $775,000
- Educational
- $570,000
- Residential Income
- $725,000
- Energy
- $715,000
- Income-Based Land
- $770,000
- Food Service
- $750,000
Location Insight
- Map
- Local Demand
- City
- Palos Hills
- County
- Cook
- State
- Illinois
- Longitude
- -87.8195
- Latitude
- 41.6904
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
