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2 Orland Square Dr
202,788 SF 100% Leased Retail Building Orland Park, IL 60462 For Sale
Investment Highlights
- 2 Orland Square is a two-story, 202,788-square-foot former department store turned creative studios that is ready for redevelopment.
- Orland Square is the city’s largest indoor mall, offering a robust collection of name brands, various services, and several restaurants.
- Situated on over 16 acres along the heavily traversed and highly visible Highway 45 with exposure to over 47,500 daily drivers.
- Investors will benefit from the prime Chicago suburb location, exceptional visibility, and immense repurposing potential.
Executive Summary
Orland Square is the city’s largest indoor mall, offering name brands and various services and restaurants. Positioned in a bustling suburban area, 2 Orland Square encompasses a thriving community supporting $3.8 billion of total consumer spending within a 15-minute drive of the site. It’s home to over 286,000 residents, boasting an average household income of $105,000 within the same distance. Traveling in and out of town is easy with nearby access to Highways 45 and 55 and Interstate 57, delivering a seamless connection to Downtown Chicago, located about 25 miles northeast of Orland Park.
Orland Park is a thriving suburb of Chicago, filled with safe residential streets, landscaped lawns, and paved sidewalks. This family-friendly city offers conveniences and attractions ranging from restaurants, community parks, and history museums to country clubs and kid-approved fun. Centennial Park is a local favorite, offering fishing ponds, athletic fields, dog and skate parks, biking and hiking paths, an ice rink, and a water park. The Orland Park Metra Station sits in the corner of the park for a frictionless public transportation option.
Property Facts
About South Route 45
The retail market surrounding South Route 45 is a surprising mix of nature preserves and lakes to the northeast and commerce, entertainment, and residential living to the south. Orland Park, at the area’s core, is home to the 1.2 million-square-foot Orland Square Mall, the largest mall in the south and southwest suburbs of Chicago. The mall has witnessed quite a few transformations through the years, adjusting to the new climate of retail. It now houses Robert Morris College Tech Center (300 employees) where there was once a movie theater; Texas de Brazil moved into the former Sears’ second floor; and the Dave & Buster’s entertainment center was built near the former Toys “R” Us outlot. To the south is Tinley Park’s outdoor music venue Hollywood Casino Amphitheatre, with a 28,000-spectator capacity. Owned by Live Nation, the theater hosts numerous concerts and live music festivals throughout Chicago’s temperate months.
Plenty of work gets done here, too, with businesses employing hundreds of area residents. Over 10 healthcare facilities retain collectively over 50,000 employees, including 1,800 from Palos Health in Palos Heights and 640 from Northwestern Medicine’s Orland Park location. Other large firms include wire manufacturer Panduct (1,200 employees) in Palos Heights and plumbing and mechanical fabricator ASC Engineered Solutions (288 employees) in Tinley Park.
DEMOGRAPHICS
Demographics
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Texas de Brazil | - | - | 6 min walk |
| Cajun Boil & Bar | Seafood | $$$ | 9 min walk |
| Petra Restaurant & Bakery | - | - | 9 min walk |
| Panera Bread | - | - | 9 min walk |
| Chipotle Mexican Grill | - | - | 10 min walk |
| Raising Cane's | - | - | 10 min walk |
| Pita Pit | - | $ | 11 min walk |
| Bj's Restaurant & Brewhouse | - | - | 10 min walk |
| Panda Express | - | - | 11 min walk |
| ChikWich @ Market Fresh Grill | - | - | 12 min walk |
Retail |
||
|---|---|---|
| Perfect Workout | Fitness | 4 min walk |
| Stewart Title | Insurance | 4 min walk |
| Plato's Closet | Unisex Apparel | 5 min walk |
| JCPenney | Dept Store | 5 min walk |
| Sky Zone | Fitness | 7 min walk |
| Dave & Buster's | Arcade | 8 min walk |
| Von Maur | Dept Store | 8 min walk |
| Wells Fargo Home Mortgage | Bank | 9 min walk |
| Duluth Trading Co. | Unisex Apparel | 11 min walk |
| Stretchlab | Fitness | 11 min walk |
Hotels |
|
|---|---|
| Quality Inn |
149 rooms
7 min drive
|
| Hampton by Hilton |
158 rooms
7 min drive
|
| Homewood Suites by Hilton |
81 rooms
7 min drive
|
PROPERTY TAXES
| Parcel Number | 27-10-301-008-0000 | Improvements Assessment | $11,666 |
| Land Assessment | $1,064,585 | Total Assessment | $1,076,251 |
PROPERTY TAXES
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Christine Wei -
Cubework
Presented by
2 Orland Square Dr
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