700 Sheridan Rd, Highwood, IL 60040
- Assisted living facilities
- 59,742 SF
- 1.67 lot acres
Current Use by Public Records
- Life time and / Apartment Complex
Property Details for 700 Sheridan Rd
- Year built
- 1965
- Construction
- BRICK
- Lot size
- 1.67 lot acres
- Property type
- Assisted living facilities
- Property subtype
- Retirement homes
- APN
- 16-15-202-008
- APU
- 1615202008
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Apr 6, 2026 | $7,350,000 | Kenes Michael | Serhiy Syhlyanyk | Deed | — |
| May 29, 2025 | $4,200,000 | Vatoz LLC | Midland States Bank | Special Warranty Deed | — |
| Dec 18, 2023 | — | Midland States Bank | Highwood Senior Residence Holding L | Sheriffs Deed · related | — |
| Dec 14, 2018 | — | Highwood Senior Res Holding Ll | Highwood Towers Developers LLC | Quit Claim Deed · related | — |
| Feb 8, 2010 | — | Highwood Towers Developers LLC | — | Grant Deed · related | $1.7M · Mega Realty INC |
Description
This exceptional mixed-use property in Highwood, Illinois, presents a unique investment opportunity. The five-story building, originally a Ramada Inn, boasts 105 units: 95 studios averaging 316 square feet and 10 one-bedroom units ranging from 632 to 720 square feet. A recent, comprehensive renovation (2019) included the addition of a 2,100 square foot commercial kitchen and a 20,000 square foot retail space ideal for grocery stores, restaurants, or similar ventures. The total square footage is 91,500, situated on a 1.67-acre lot zoned PUD. Building amenities include a lobby, reception area, management office, library, mail room, beauty/barber shop, sundry store, wellness/therapy facilities, an indoor pool, sauna, and an industrial kitchen. The property is currently vacant. Its location in Chicago's affluent North Shore, between Lake Forest and Highland Park, offers easy access via I-94, IL Route 22, IL Route 131, and US Route 41. Excellent public transportation is available via Metra and Pace, with convenient access to the Chicago Loop and O'Hare Airport. This property is perfect for an investor seeking to provide quality housing and retail options in a vibrant, desirable community. The building was constructed in 1971 and is classified as Class B. Bid deadline is August 14th at 5:00 PM CT. On-site inspections are available by appointment only.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $5,195,000
- ML approach
- $5,235,000
-
Alternative Use
- Use
- Estimation
- RESTAURANT
- $6,870,000
- RETAIL STORES
- $5,925,000
- COMMERCIAL (GENERAL)
- $5,335,000
- MEDICAL BUILDING
- $5,100,000
- OFFICE BUILDING
- $5,085,000
- AUTO REPAIR, GARAGE
- $5,020,000
- APARTMENT HOUSE (5+ UNITS)
- $4,900,000
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Location Insight
- Map
- Local Demand
- City
- Highwood
- County
- Lake
- State
- Illinois
- Longitude
- -87.8147
- Latitude
- 42.2103
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
