500 South Chicago Street
Land | 28,795 SF | Value Add Opportunity
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a vacant parcel of land (development site) located at 500 S Chicago Street in Joliet, Illinois (the “Property”). The Property is comprised of a 28,795 square foot parcel of land (0.66 acres). The Property is adjacent to a retail plaza and single tenant Dunkin’ and offers approximately 220 feet of frontage along S Chicago Street and approximately 245 feet of frontage along S Eastern Avenue.
The Property is zoned B-3 (Business District). The Property is strategically positioned at the intersection of 5th Avenue, S Eastern Avenue and Chicago Street (US Route 52), the area’s primary commercial and commuter corridor. The site benefits from its proximity to major traffic drivers, including Dunkin’, and is just 0.7 miles from E Jefferson Street and Downtown Joliet and is convenient to a mix of national and local retailers and restaurants that generate consistent consumer activity.
The Property is also located along a municipal bus route, enhancing accessibility for commuters and visitors. Surrounded by established residential neighborhoods, and convenient to apartment communities, area schools, and Joliet Junior College, the site benefits from a built-in and stable customer base. Additionally, the Property offers convenient access to key regional transportation routes, including US Route 52, US Route 6, US Route 30, Illinois Route 7, and Illinois Route 53, as well as Interstate 80, providing strong regional connectivity. Joliet is located approximately 40 miles southwest of Chicago, further enhancing the Property’s accessibility and regional draw.
Investment highlights
THE ASSET: The Property is comprised of a 28,795 square foot parcel of land (0.66 acres). The Property is adjacent to a retail plaza and single tenant Dunkin’ and offers approximately 220 feet of frontage along S Chicago Street and approximately 245 feet of frontage along S Eastern Avenue. The Property is zoned B-3 (Business District).
PROPERTY ZONING: The Property is zoned B-3 (Business District). The B-3 Business District is intended to accommodate regional-serving, transportation- oriented commercial uses, typically located along major arterial corridors, highway interchanges, and high-traffic commercial areas. Unlike neighborhood-focused B-1 or downtown-oriented B-2 districts, the B-3 classification is designed for larger- format retail, automotive uses, service businesses, and certain light industrial-type commercial operations that require greater visibility, access, and parking. Permitted uses include but are not limited to Retail and Commercial, Automotive Oriented uses, Service and Commercial Business uses, Restaurant and Entertainment uses, and Professional, Medical and Dental Offices.
VALUE ADD OPPORTUNITY: The development site benefits from excellent visibility and frontage and has good access. The versatile Property offers significant upside through development and can function as a single tenant building, or it can accommodate multiple tenants offering more flexibility when seeking a new tenant/tenants. The Property is also ideal for an owner-user taking advantage of the excellent location of the underlying real estate.
STRATEGIC RETAIL LOCATION: The Property is located along S Chicago Street (US Route 52) at the intersection with 5th Avenue and S Eastern Avenue. The Property offers convenient access to McDonough Street and W Jefferson Street, the area’s primary commercial and commuter corridor. The Property is adjacent to a retail plaza and freestanding Dunkin’ and is convenient to national and local retailers and restaurants that drive traffic to the area. The Property is positioned along the municipal bus line and offers convenient access to key regional roadways, including US Routes 52, 6, and 30, Illinois Routes 7 and 53, and Interstate 80, providing strong connectivity throughout the broader region. Surrounded by established residential neighborhoods, and close to apartment communities, Joliet Junior College, and area schools, the Property benefits from a built-in and consistent customer base.
TRAFFIC COUNTS: On average more than 21,100 vehicles per day pass by the Property at the intersection of S Chicago Street (US Route 52) and 5th Avenue.
DEMOGRAPHICS: Over 81,100 people live within 3 miles of the Property with an average household income of $83,070. More than 137,100 people live within 5 miles of the Property with an average household income of $97,419. Additionally, there are more than 49,400 employees within 5 miles of the Property
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