666 E Northwest Hwy, Arlington Heights, IL 60004

Premier Redevelopment Opportunity in Arlington Heights Address: 666 E Northwest Hwy, Arlington Heights, IL 60004 Price: $2,500,000 Lot Size: 0.62 Acres (26,954 SF) Building Size: 12,000 SF Property Overview: Welcome to an exceptional investment opportunity located at 666 E Northwest Hwy in Arlington Heights, IL. This 0.62-acre property, featuring a 12,000 SF building currently occupied by three tenants engaged in auto repair and auto sales, is a prime candidate for redevelopment under the Arlington Heights Hickory-Kensington Plan. Strategic Location: Core Area Redevelopment: Situated in the heart of Arlington Heights, this property is pivotal to the Hickory-Kensington Plan, which envisions the transformation of this Core area into a dynamic mixed-use neighborhood. The Village encourages developments that integrate commercial and residential uses, fostering a vibrant community atmosphere. Proximity to New Developments: A brand-new four-story residential development is rising directly to the north, highlighting the area's rapid growth and potential for future development. Accessibility: The property is conveniently located near Downtown Arlington Heights, enhancing its appeal for future commercial and residential tenants. Development Potential: The Hickory-Kensington Plan outlines a vision for this Core area to be redeveloped with at least two floors, with potential for higher structures upon further discussion. The Village's guidelines aim to create a lively mixed-use neighborhood that supports the local tax base and addresses housing demands. Village Recommendations: Mixed-Use Development: The Village encourages the incorporation of restaurants and service-oriented businesses that complement a mixed-use neighborhood. Commercial First Floor: Ideal for businesses such as breweries or other community-focused enterprises, with residential units above to maximize land use and community integration. Investment Highlights: High Demand Area: With much of the surrounding area already redeveloped or undergoing transformation, this property is uniquely positioned to become a cornerstone of the new neighborhood. Village Support: The Village of Arlington Heights is keen on facilitating developments that align with the Hickory-Kensington Plan, offering a supportive environment for investors and developers. Potential for Significant ROI: The combination of strategic location, village support, and redevelopment potential makes this property an attractive investment with the promise of substantial returns. Summary: This property represents a unique opportunity to be at the forefront of Arlington Heights' growth and redevelopment. Whether you envision a bustling commercial space with vibrant residential units above or a new community hotspot, 666 E Northwest Hwy offers the foundation for a transformative project that will shape the future of Arlington Heights. For full property details visit: https://jasoncre.com/e-northwest-hwy-arlington-heights-il/