Downtown Des Plaines Redevelopment Site 1585 Ellinwood St 10,421 SF 70% Leased Office Building Des Plaines, IL 60016 $1,500,000 ($143.94/SF)

CRER is pleased to present the opportunity to acquire two adjacent parcels totaling 22,500 SF at 1577-85 Ellinwood St in downtown Des Plaines. Ideally located and zoned, the property offers developers the opportunity to build, within right, a six-story luxury apartment building with ground floor amenities. Situated just one block from the Metra Union Pacific NW Line, with 150 feet of frontage on Ellinwood and within the Central Business District, the site qualifies for TOD incentives. The City of Des Plaines, as part of their “reimagine/reinvest/rediscover” program intended to revitalize downtown, issued a report February 10, 2025, which highlighted this site, among four others, as active targets for redevelopment. As the report states, they are eager to have the outdated office building and parking lot redeveloped and will offer incentives “to facilitate development.” The site further benefits from its proximity to the Chicago Bears proposed multiuse and entertainment district mega development in Arlington Heights. Located just eight miles and three Metra stops from the subject property, the proposed development will be anchored by an indoor stadium that will spur year-round activity and serve as a destination for neighbors and visitors alike.