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700 Sheridan RdHighwood, IL 60040

105 Units, Retail Space, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional mixed-use property in Highwood, Illinois, presents a unique investment opportunity. The five-story building, originally a Ramada Inn, boasts 105 units: 95 studios averaging 316 square feet and 10 one-bedroom units ranging from 632 to 720 square feet. A recent, comprehensive renovation (2019) included the addition of a 2,100 square foot commercial kitchen and a 20,000 square foot retail space ideal for grocery stores, restaurants, or similar ventures. The total square footage is 91,500, situated on a 1.67-acre lot zoned PUD. Building amenities include a lobby, reception area, management office, library, mail room, beauty/barber shop, sundry store, wellness/therapy facilities, an indoor pool, sauna, and an industrial kitchen. The property is currently vacant. Its location in Chicago's affluent North Shore, between Lake Forest and Highland Park, offers easy access via I-94, IL Route 22, IL Route 131, and US Route 41. Excellent public transportation is available via Metra and Pace, with convenient access to the Chicago Loop and O'Hare Airport. This property is perfect for an investor seeking to provide quality housing and retail options in a vibrant, desirable community. The building was constructed in 1971 and is classified as Class B. Bid deadline is August 14th at 5:00 PM CT. On-site inspections are available by appointment only.

Highlights

  • 105 units: 95 studios (avg. 316 sq ft) and 10 one-bedroom units (632-720 sq ft).
  • Located in Highwood, IL, on Chicago's affluent North Shore between Lake Forest and Highland Park.
  • Excellent access to I-94, IL Routes 22 & 131, and US Route 41; convenient to Metra and Pace transit.
  • 91,500 sq ft building on a 1.67-acre PUD-zoned lot; includes 2,100 sq ft commercial kitchen and 20,000 sq ft of retail space.
  • Amenities: lobby, management office, library, mailroom, beauty/barber shop, sundry store, wellness facilities, indoor pool, sauna, and industrial kitchen. Currently vacant. Class B building (1971). Bid deadline: August 14th, 5:00 PM CT.

Property Details for 700 Sheridan Rd

Property type
Day care centers & nurseries, Retirement homes
Square Feet
91,500 SF
Class
B
Year Built/Renovated
1971/2019
Stories
5
Lot Size (sq. ft)
72,745 SF
Units
105

Location Insight

City
Highwood
County
Lake
State
Illinois
Latitude
42.210545845413
Longitude
-87.813829259121
700 Sheridan Rd, Highwood, Illinois

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700 Sheridan Rd
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