1527 Harlem Ave
Forest Park, IL 60130
R Place Tavern and Property - Build to Suit · Property For Lease

The owner of this property, (Jim), is a long-term investor in real estate, who has overseen the construction of many top-quality projects.  His portfolio includes the neighboring 1515 S. Harlem building, where he owns and operates American Security on the second floor and rents the first floor to the to the State and Federal Veterans Administration as medical suites.  Having the landlord next door is mutually beneficial. The building is currently a shell, with recently done improvements in 2020 including a new roof, waterproofing of the basement and the addition of new parking lot lighting. Brand new landscaping, curbs and sidewalk for the parking lot. The owner will pay for new parking lot asphalt. The owner is willing to sell as is, lease the current property as is (shell), or enter into a joint venture for tenant improvements between landlord and tenant to build to suit. The 84’ x125’ deep lot is approximately 10,500 s/f.  The tentative plan is to construct a one or two story building approximately 40-48’ wide x 80-100’ deep (3,200-4,800 s/f per floor).  This plan will accommodate 12 parking stalls and have alley access for deliveries. There is an additional 62’ x 125’ fully improved parking lot adjacent to the property with security lighting, beautiful landscaping, 10 EV charging stations, and 24 parking stalls. Located in Forest Park, the property has excellent exposure with a 35,000-car count and is easily accessible with I-290 only one mile north and I-55 four miles south.  Public transportation to the property is convenient with bus routes on Harlem Ave, Cermak Road (7 blocks away), Roosevelt Road (4 blocks away), and the CTA blue line (1-mile away). The property is a quick 20-minute drive to downtown or either airport.  Loyola and Hines Medical Centers are only one mile away, which makes this an ideal location for constructing a build-to-suit professional building with medical suites.  The B-2 zoning also allows offices, retail space, and many other possibilities. In addition, this property has recently been rezoned to operate a marijuana dispensary, with a village approved special use permit. If you are interested in purchasing the property, the owner is willing to sell it as is for $449,500.