For Sale
$225,000

16300 Louis AveSouth Holland, IL 60473

253-unit building, redevelopment opportunity

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 162,816 square foot, six-story apartment building in South Holland, IL, presents a compelling redevelopment opportunity. Situated on nearly 8 acres, this property boasts 253 units and 112 parking spaces. Originally built in 1974 and renovated in 2019, the building includes a grand dining room, recreation room, commercial kitchen, café, library, lounge areas, activity rooms, chapel, and salon. Common balconies are featured on each floor. The property, previously a senior living community, benefits from over $1.5 million in capital improvements completed in 2019, including a new roof and unit conversions. Located in Cook County, with the address 16300 Louis Ave, zip code 60473, this property is zoned residential and offers significant value-add potential. The asking price is $225,000, translating to $889.33 per unit and $1.38 per square foot. The property is currently vacant and owned by a non-profit entity, which has previously benefited from property tax exemption. This prime location within a densely populated suburb, less than 20 miles south of Chicago, offers strong local demand fundamentals, supported by a population exceeding 460,000 within a 7-mile radius. The property is being auctioned.

Highlights

  • Exceptional redevelopment opportunity: 162,816 SF, six-story apartment building with 253 units and 112 parking spaces on ~8 acres in South Holland, IL.
  • $1.5M in capital improvements completed in 2019, including a new roof.
  • Asking price: $225,000 ($889.33/unit, $1.38/SF).
  • Currently vacant, previously a senior living community with numerous amenities.
  • Located in Cook County (60473), zoned residential, less than 20 miles south of Chicago.

Property Details for 16300 Louis Ave

Property type
Retirement homes, Mixed-use properties
Square Feet
162,816 SF
Class
C
Year Built/Renovated
1974/2019
Buildings
1
Stories
6
Lot Size (sq. ft)
339,768 SF
Units
253

Location Insight

City
South Holland
County
Cook
State
Illinois
Latitude
41.597974874062
Longitude
-87.60949721926
16300 Louis Ave, South Holland, Illinois

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16300 Louis Ave
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