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20920 Governors Hwy 1.06 Acres of Commercial Land Offered at $250,000 in Olympia Fields, IL 60461

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INVESTMENT HIGHLIGHTS

  • High-Visibility Location – Excellent frontage along Governors Hwy, ensuring maximum exposure.
  • Median household income of $73,302, plus a daytime workforce of over 5,000 employees,
  • Thriving Commercial Hub – Olympia Fields continues to see strong growth

EXECUTIVE SUMMARY

MoHall Commercial & Urban Development presents an unparalleled development opportunity at 20920 Governors Highway, Olympia Fields, IL. This 1.05-acre commercial parcel is zoned B-3 General Retail and Limited Service District, making it an ideal location for a range of commercial developments, including retail centers, financial institutions, medical offices, quick-service restaurants, and mixed-use projects. Positioned in a high-traffic corridor with 18,667 vehicles passing daily, this site offers exceptional visibility and accessibility for businesses looking to establish a strong presence in a rapidly growing market. Strategically located between Walgreens and Gordon Food Services, the property benefits from cross-access easements, ensuring seamless entry and exit for customers and deliveries. The flat, cleared lot is fully improved with water, sewer, electricity, and gas, providing a shovel-ready site for immediate development. Its prime frontage along Governors Highway enhances exposure, while its easy ingress and egress make it highly convenient for both customers and employees. Developers and investors will appreciate the strong local demographics, with 7,697 residents within a one-mile radius and a median household income of 73,302, ensuring consistent consumer demand. Additionally, a daytime workforce of over 5,000 employees creates further opportunities for businesses catering to professionals and local workers. With its B-3 zoning, this property is ideal for national retailers, medical facilities, professional office buildings, restaurants, and service-oriented businesses. Olympia Fields continues to experience strong commercial growth, making this an exceptional opportunity for developers seeking a high-exposure, investment-ready site in a well-established community. This is a rare chance to secure a premier development site in one of Cook County's most sought-after commercial corridors. Whether you're an investor, developer, or business owner, this property provides the perfect foundation for a successful commercial venture. Act now to secure this prime location.

PROPERTY FACTS

Price $250,000
Sale Type Investment or Owner User
Sale Conditions
Redevelopment Project
  • REO Sale
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Retail
  • Bank
  • Medical
  • Restaurant
Total Lot Size 1.06 AC
Zoning B-3 - The B-3 district is intended for general service and wholesale business uses, accommodating a variety of commercial activities.

1 LOT AVAILABLE

Lot

Price $250,000
Price Per AC $234,763.83
Lot Size 1.06 AC

This 1.05-acre commercial lot is a flat, shovel-ready parcel positioned along the highly trafficked Governors Highway corridor.

DESCRIPTION

High-traffic corridor with 18,667 vehicles passing daily. Zoned B-3 Commercial Service and Wholesale District, this site offers unparalleled flexibility for retail, medical offices, financial institutions, quick-service restaurants, and mixed-use projects. Key Highlights: High-Visibility Location – Excellent frontage along Governors Hwy, ensuring maximum exposure. Exceptional Access – Cross-access easements with Walgreens and Gordon Food Services, allowing for seamless traffic flow and easy ingress/egress. Strong Demographics – 7,697 residents within a one-mile radius with a median household income of $73,302, plus a daytime workforce of over 5,000 employees, creating steady demand for businesses. Thriving Commercial Hub – Olympia Fields continues to see strong growth, making this location a prime investment opportunity.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
31-23-105-016-0000
Land Assessment
$167,892
Improvements Assessment
$7,500
Total Assessment
$175,392
  • Listing ID: 34975185

  • Date on Market: 2/28/2025

  • Last Updated:

  • Address: 20920 Governors Hwy, Olympia Fields, IL 60461

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