1112 Superior Street
About This Property
Marketing description
Greenstone Partners, as the Exclusive Investment Advisors, is pleased to present the opportunity to acquire the 100% fee-simple interest in the Woodlake development sites (the “Property”), a collection of development parcels totaling ±4 Acre prominently located in Melrose Park, IL.
The five parcels, formerly utilized as surface parking, are prominently situated along Chicago Avenue and Lake Street between 10th and 12th Streets. The sites benefit from adjacency to two Melrose Park elementary schools, Walther Christian High School, and the 7-acre Wentland Athletic Field, which features tennis courts, baseball and football fields, and a running track.
Ranging in size from 0.30 acres to 1.54 acres, the parcels can accommodate a variety of uses, including single-tenant retail, residential townhomes, and multifamily housing. The new use will require a zoning change through the Village of Melrose Park.
Located approximately 13.5 miles west of Chicago’s Central Business District (the Loop), Melrose Park is home to several major healthcare institutions, including Woodlake Hospital, Gottlieb Memorial Hospital, and the Hines VA Medical Center. The Property also benefits from strong regional accessibility, with convenient access to Pace bus routes, UP-West Metra stations, and major highways, including I-290 and I-294, all within a 10-minute drive.
Investment highlights
DEVELOPMENT-READY SITE
The Property comprises a collection of cleared, development-ready parcels formerly utilized as surface parking for the Woodlake Healthcare Center. The site totals approximately ±4 acres and is divided into five parcels ranging from 0.30 acres to 1.54 acres. Parcels may be acquired individually or as a single assemblage.
BROAD RANGE OF USES
The parcels are currently zoned for commercial use and offer flexibility to accommodate a variety of alternative uses—including residential townhomes, multifamily, and single- or multi-tenant retail—subject to a zoning change.
PROXIMITY TO MAJOR HEALTHCARE INSTITUTIONS
The Property is immediately adjacent to the 225-bed Woodlake Hospital currently under rehab and the Woodlake Occupational Health Center. It is also located within a two-mile radius of several major healthcare facilities, including the 235-bed Gottlieb Memorial Hospital to the north and the 483-bed Hines VA Medical Center to the south.
ROBUST CONNECTIVITY
The site is within walking distance of the Metra UP-West Melrose Station, providing direct access to Chicago Union Station in approximately 23 minutes with only five stops. Additional transit options include multiple Pace bus routes (309 and 313), offering convenient eastbound service to Oak Park and connecting to the CTA Green Line within a 20-minute ride. The Property is also well positioned relative to regional roadways, located 1.6 miles from I-290, 3.8 miles from I-294, and approximately 13.5 miles west of Downtown Chicago.
SOLID DEMOGRAPHICS
Within 2 miles, the average household income is $90,308 and the median home value is $236,000+. A total population of 75,383 live within 2-miles.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
