700 Sheridan Rd - 91,500± SF Housing & Commercial Site 98,657 SF Health Care Building Offered For Sale in Highwood, IL 60040
INVESTMENT HIGHLIGHTS
- 105 Units: 95 studios/10 one-bedroom units
- Easily accessible via I-94, IL Route 22, IL Route 131 & U.S. Route 41
- Located in Chicago’s North Shore suburbs – between the major cities of Lake Forest & Highland Park
- Amenities include: lobby & reception area, management office, library, mail room, beauty/barber shop, sundry store & wellness/therapy facilities
EXECUTIVE SUMMARY
Hilco Real Estate presents the sale of 700 Sheridan Rd., Highwood, IL. The bid deadline is August 14 by 5:00 p.m. (CT) with on-site inspections by appointment only.
This property, known as 700 on Sheridan, is a five-story housing facility. Originally designed as a Ramada Inn hotel, this building features a total of 105 units, with 95 studio units averaging 316± SF and 10 one-bedroom units ranging from 632± to 720± SF.
The building has undergone comprehensive interior and exterior renovations including its recent additions of 2,100± SF commercial kitchen and a 20,000± SF retail space suitable for grocery operations, restaurants and similar uses. This site is a prime opportunity for a new investor or owner to provide quality housing and retail opportunities for the Chicago North Shore area.
Highwood, Illinois, is situated in Chicago’s affluent North Shore suburban neighborhood. Known for its top-rated schools, beautiful lakefront views and charming communities, this area offers a vibrant culture with boutique shops, fine dining, golf courses, country clubs and nature preserves.
The area’s development is further characterized by its excellent transportation access. It is 27 miles from the Chicago Loop and 20 miles from O’Hare Airport. Public transportation options include Metra’s Chicago & North Western/North Line commuter trains and Pace bus service. Metra trains run over twenty times a day between Kenosha, Wisconsin, and Chicago, Illinois, with nearby stations in Highwood, Fort Sheridan and Highland Park. The express train from Highwood to Chicago takes only thirty minutes. Additionally, Highwood is easily accessible via IL Route 22, IL Route 131 and U.S. Route 41.
This property, known as 700 on Sheridan, is a five-story housing facility. Originally designed as a Ramada Inn hotel, this building features a total of 105 units, with 95 studio units averaging 316± SF and 10 one-bedroom units ranging from 632± to 720± SF.
The building has undergone comprehensive interior and exterior renovations including its recent additions of 2,100± SF commercial kitchen and a 20,000± SF retail space suitable for grocery operations, restaurants and similar uses. This site is a prime opportunity for a new investor or owner to provide quality housing and retail opportunities for the Chicago North Shore area.
Highwood, Illinois, is situated in Chicago’s affluent North Shore suburban neighborhood. Known for its top-rated schools, beautiful lakefront views and charming communities, this area offers a vibrant culture with boutique shops, fine dining, golf courses, country clubs and nature preserves.
The area’s development is further characterized by its excellent transportation access. It is 27 miles from the Chicago Loop and 20 miles from O’Hare Airport. Public transportation options include Metra’s Chicago & North Western/North Line commuter trains and Pace bus service. Metra trains run over twenty times a day between Kenosha, Wisconsin, and Chicago, Illinois, with nearby stations in Highwood, Fort Sheridan and Highland Park. The express train from Highwood to Chicago takes only thirty minutes. Additionally, Highwood is easily accessible via IL Route 22, IL Route 131 and U.S. Route 41.
PROPERTY FACTS
ROOM MIX INFORMATION
| DESCRIPTION | NO. BEDS |
|---|---|
| - | 0 |
Walk Score®
Very Walkable (75)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 16-15-202-008 | Improvements Assessment | $3,028,630 |
| Land Assessment | $508,923 | Total Assessment | $3,537,553 |
ZONING
| Zoning Code | PUD |
