Arby's (Vacant)
Retail | 2,306 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a vacant building located at 207 S Halstead Street in Chicago Heights, Illinois (the “Property”). The Property is a former Arby’s improved by a vacant 2,306 square foot single story building on a 46,699 square foot (1.07-acre) parcel of land and is zoned B-2 Limited Service Business District, one of the most versatile zoning designations in Chicago Heights. 207 S Halstead Street offers the opportunity to re-tenant the Property, redevelop the Property, or to use the Property as an owner-user opportunity.
The Property is well-located along S Halstead Street (IL Route 1), the area’s primary commercial and commuter corridor. The Property enjoys outstanding visibility and frontage as well as two points of access. The Property is across the street from Prairie State College, within 1.5 miles of three High Schools, and is convenient to dense residential neighborhoods, all of which provide a built-in and captive customer base. The Property is on the Pace bus line and enjoys quick access to US Route 30, IL Routes 1, 394, 83, and 50, and is 3.5 miles from Interstate 294, which connects with Interstates 80, 57, and 94. The Property is also just 3 miles from Flossmoor Metra Station on the Metra Electric Line. The Property also offers quick access to US Routes 45 and 12 and Interstates 294, 190 and 90. The high-demand for real estate with close proximity to schools, colleges, and area highways make this a great opportunity for an investor seeking an owner-user or redevelopment site in the Chicago MSA.
Investment highlights
THE ASSET: The Property, constructed in 1998, is a former Arby’s and contains a 2,306 square foot single story building with a drive-thru on a 46,699 square foot (1.07-acre) parcel of land. The location offers 150 feet of frontage along S Halstead Street and 250 feet of frontage along Glenwood Road. 207 S Halstead Street is zoned B-2 Limited Service Business District.
REDEVELOPMENT & VALUE ADD OPPORTUNITY: 207 S Halstead Street provides a highly desirable location with a strong consumer base. The Property is ideal for an owner-user, can be leased as-is, or can be redeveloped, taking advantage of the well- trafficked location. Additionally, the B-2 Limited Service Business District Zoning allows for a broader range of commercial activities than the more restrictive B-1 district, with an emphasis on retail and service uses and without uses that generate objectionable impacts like noise, odor, or heavy processing. Permitted uses include, but is not limited to Neighborhood Retail, General Retail, Restaurants (with Drive- Thru’s), Neighborhood Service, General Service, and Convenience Cash Businesses. Please contact the agent for more details.
TRANSIT ORIENTED LOCATION: The Property is positioned along IL Route 1 and is 1.5 miles from US Route 30 and 3.5-miles from Interstate 294, which connects with Interstates 80, 94, and 57.
The Property is 3 miles from the Flossmoor Metra Station with service on the ME Line.
The Property is on the Pace Bus Line (500 feet).
HIGH-DEMAND URBAN LOCATION: Chicago Heights is part of Chicago’s Southland region, an area that has increasingly attracted industrial and logistics investment due to available land, highway access, and relatively competitive costs compared to closer-in suburbs. The city also benefits from Prairie State College and nearby Governors State University in University Park which provide higher education opportunities and workforce training for the region.
The Property is across the street from Prairie State College, a public community college founded in 1957, offering over 100 associate degree and certificate programs, including popular options in nursing, emergency medical technology, and liberal arts. Prairie State College has a total enrollment of more than 3,000 students. Additionally, the Property is within 1.5 miles of three area high schools (Bloom High School, Marion Catholic High School and Glenwood Academy).
The Property is adjacent to Taco Bell, seconds from McDonald’s and close to several large shopping centers along S Halstead Street. The Property is 3 miles from Olympia Fields Country Club a premier, historic private club renowned for its two championship 18-hole courses, the North and South. The North Course is consistently ranked among the top 100 in the U.S. and has hosted multiple major championships, including the U.S. Open, PGA Championship, and BMW Championship.
More than 21,500 vehicles pass by the Property each day along S Halstead Street.
EXCEPTIONAL DEMOGRAPHICS: More than 64,700 people live within a 3-mile radius of the Property with an average household income of $106,006. More than 179,600 people live within a 5-mile radius of the Property with an average household income of $100,004.
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