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    Property profile & analytics
    OFF-MARKET Estimated value $715,000
    Commercial real estate

    217 Walnut St, Itasca, IL 60143-1730

    4,605 SF 0.26 ac lot Built 1968
    Individually Owned 2-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US28-2323408
    Property summary
    AI-generated overview

    This exceptional 4,572 square foot retail property, located at 217-219 N Walnut St in Itasca, IL, presents a unique investment opportunity. Situated on a 0.2-acre lot in the heart of the Downtown Itasca North District, this single-tenant building boasts 14 parking spaces and is conveniently located just one block from the Metra station. Built in 1968, the one-story structure is constructed of durable brick and concrete block, and is zoned for Downtown Itasca North TIF District uses. The property is ideally suited for a food service establishment, restaurant, bar, or lounge, aligning perfectly with the Village of Itasca's strategic downtown plan. This prime location benefits from its proximity to O'Hare Airport (10 minutes), major expressways, and a thriving business community, including prominent corporate campuses such as Hamilton Lakes and the American Academy of Pediatrics. The surrounding neighborhood is walkable and features a mix of historic and modern homes. The Village of Itasca has undertaken significant investments in new construction projects, further enhancing the area's appeal and potential for growth. This property represents a chance to establish a business in a strong, established community with a rich history dating back to 1841. The property is currently vacant and ready for immediate occupancy. Interested parties should review the available Request for Proposals (RFP) for complete details and timelines.

    Property profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    Year built 1968
    Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Total area 4,605 SF
    Lot 0.26 ac (11,326 SF)
    Zoning code C
    APN 03-08-121-014
    UPID US28-2323408
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $840k
    Blend (final) Blend
    $715k
    Owner & transaction history
    Village Of Itasca · 2 yrs held
    Village Of Itasca
    since 2023
    3 recorded transactions
    2023
    1969
    1969
    Zoning & alternative use
    C · Itasca, IL
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Medical building $1.0M +36.1%
    Retail stores $990,000 +30.2%
    Office building $825,000 +8.3%
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