364 S Orchard Dr Park Forest, IL 60466

This exceptional 1.25-acre commercial land parcel presents a remarkable redevelopment opportunity in Park Forest, Illinois. Located at the northeast corner of Orchard Drive and Indianwood Boulevard, this level lot boasts a C2 Mixed-Use District zoning designation, allowing for a wide array of development options. Permitted uses include retail, service, office, and institutional spaces, with multi-family development possible via a Special Use Permit. Residential dwellings above ground-floor commercial spaces are permitted by right. The property features convenient access to major regional connectors and is situated in Park Forest's central business district, surrounded by quality retail, service, medical, and banking institutions, as well as a library and parks. All necessary utilities are readily available on-site. This prime location benefits from significant economic incentives, including Opportunity Zone, Will-Cook Enterprise Zone, Cook County Property Tax Incentives, and Sales Tax Rebates. The parcel ID is 31-36-204-007-0000. Currently, the land is publicly owned and functions as a parking lot. This is an unparalleled chance to capitalize on a vibrant location and attractive incentives.