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Vacant Former Theater | South Side of Chicago 210 W 87th St 65,186 SF Vacant Retail Building Online Auction Sale Chicago, IL 60620
Matterport 3D Tours
INVESTMENT HIGHLIGHTS
- Take advantage of this attractive, high-end movie theater with compelling residual uses for investors and developers.
- Located just south of downtown, this area provides convenient access to over 24,000 vehicles traveling the interstate daily.
- Consistently maintained over the years, this former theater has reduced maintenance expenses for investors and owners.
- Attractive location just off Interstate 94 in a dense retail corridor adjacent to The Home Depot, Aldi, Starbucks, and Wingstop.
- Broad zoning allows buyers excellent optionality moving forward at this property to continue with its current use or redevelop.
EXECUTIVE SUMMARY
Please Note: This is a receivership sale and will require court & lender approval after the auction ends.
This is an exceptional opportunity to acquire a former movie theater located at 210 W 87th Street. The property comprises a well-maintained, high-end theater spanning approximately 65,000 square feet. Originally constructed in 1997 and renovated in 2015, the asset is vacant and ready for transition to new ownership. Situated on 11.16 acres, it offers ample parking facilities. The property benefits from PD 566 zoning, which provides flexibility for a variety of potential uses. This zoning classification allows developers and the city to engage in site-specific negotiations regarding uses, building dimensions, open space, and parking configurations. Investors and developers may consider adapting the property for alternative purposes or resuming movie theater operations. The versatility of this asset presents numerous possibilities for future development.
This asset derives significant value from its prime location within the Chatham neighborhood on Chicago’s South Side. The area is well-connected across the city, with Interstate 94 (Dan Ryan Expressway), Cottage Grove Avenue, and 79th Street all serving as major thoroughfares nearby. Public transportation options are robust, with proximity to the CTA Red and Green lines as well as multiple bus routes. Situated approximately 10 miles south of the Loop, the property offers convenient access to Chicago’s Central Business District without incurring downtown expenses. The property benefits from a strong retail environment, with numerous national retailers such as Jewel Osco, Planet Fitness, DTLR, Chipotle, Wendy’s, and McDonald’s drawing significant consumer traffic to the center. This established community provides a solid built-in consumer base, primarily consisting of owner-occupied households. Within a 5-mile radius, annual area spending exceeds $5.25 million, further supporting the asset’s commercial potential.
Chicago, the third-largest city in the United States, presents an exceptional opportunity for investment due to its strategic location. With more than 58 million visitors each year, the city's tourism sector sustains numerous jobs and significantly contributes to economic growth. Chicago has a highly skilled workforce and is home to the headquarters of several prominent national brands, including McDonald’s, Boeing, United Airlines, Walgreens, and Mondelez.
Property tours are available by appointment only. Please contact the listing broker to schedule.
This is an exceptional opportunity to acquire a former movie theater located at 210 W 87th Street. The property comprises a well-maintained, high-end theater spanning approximately 65,000 square feet. Originally constructed in 1997 and renovated in 2015, the asset is vacant and ready for transition to new ownership. Situated on 11.16 acres, it offers ample parking facilities. The property benefits from PD 566 zoning, which provides flexibility for a variety of potential uses. This zoning classification allows developers and the city to engage in site-specific negotiations regarding uses, building dimensions, open space, and parking configurations. Investors and developers may consider adapting the property for alternative purposes or resuming movie theater operations. The versatility of this asset presents numerous possibilities for future development.
This asset derives significant value from its prime location within the Chatham neighborhood on Chicago’s South Side. The area is well-connected across the city, with Interstate 94 (Dan Ryan Expressway), Cottage Grove Avenue, and 79th Street all serving as major thoroughfares nearby. Public transportation options are robust, with proximity to the CTA Red and Green lines as well as multiple bus routes. Situated approximately 10 miles south of the Loop, the property offers convenient access to Chicago’s Central Business District without incurring downtown expenses. The property benefits from a strong retail environment, with numerous national retailers such as Jewel Osco, Planet Fitness, DTLR, Chipotle, Wendy’s, and McDonald’s drawing significant consumer traffic to the center. This established community provides a solid built-in consumer base, primarily consisting of owner-occupied households. Within a 5-mile radius, annual area spending exceeds $5.25 million, further supporting the asset’s commercial potential.
Chicago, the third-largest city in the United States, presents an exceptional opportunity for investment due to its strategic location. With more than 58 million visitors each year, the city's tourism sector sustains numerous jobs and significantly contributes to economic growth. Chicago has a highly skilled workforce and is home to the headquarters of several prominent national brands, including McDonald’s, Boeing, United Airlines, Walgreens, and Mondelez.
Property tours are available by appointment only. Please contact the listing broker to schedule.
MATTERPORT 3D TOURS
3D Exterior
/3
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Purchase Agreement
- Operating and Financial Statements
- Third Party Reports
- Title and Insurance
- Miscellaneous
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Movie Theater
Building Size
65,186 SF
Building Class
A
LoopNet Rating
4 Star
Year Built/Renovated
1997/2015
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
11.16 AC
Parcel Numbers
Zoning
PD 566 - Planned Development District
Parking
652 Spaces (10 Spaces per 1,000 SF Leased)
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
- 1st Floor
- 65,186 SF
- Retail
- -
- 30 Days
| Space | Size | Space Use | Position | Available |
| 1st Floor | 65,186 SF | Retail | - | 30 Days |
1st Floor
| Size |
| 65,186 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| 30 Days |
Transit Score®
Excellent Transit (71)
ABOUT SOUTH CHICAGO
Buttressed between various passenger and freight transmodal nodes, South Chicago is well situated for residents to get to their places of employment throughout the metropolitan area. Opportunities for recreation abound here, too, with the South Shore Cultural Center, Harborside International Golf Center, and the Museum of Science and Industry all within its confines. For a true getaway, residents are near Chicago’s Midway Airport to the northeast.
In addition to area employment that supports Midway Airport, South Chicago is home to businesses that capitalize on the numerous distribution points, access to fresh water for manufacturing and data hosting processes, and a congregation of warehouse and distribution centers. Local employers include automobile manufacturer Ford Motor Company (4,700 employees), digital infrastructure provider Equinix (2,800 employees) and charter bus company Ram Transportation Services (2,200 employees.)
The Chicago Metropolitan Agency for Planning (CMAP) has earmarked almost $1 billion for transportation improvements and extensions within Southwest Cook County, in addition to tax incentives to attract more employers and residents to the area.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
21,454
240,725
633,326
2020 Population
22,759
248,506
660,099
2029 Population
20,611
232,619
610,758
2024-2029 Projected Population Growth
-3.9%
-3.4%
-3.6%
Daytime Employees
4,733
46,541
155,864
Total Businesses
507
5,728
18,709
Average Household Income
$66,529
$59,672
$63,878
Median Household Income
$49,747
$41,087
$43,283
Total Consumer Spending
$193.2M
$2B
$5.5B
Median Age
42.5
41.1
38.5
2024 Households
8,578
96,626
247,249
Percent College Degree or Above
14%
13%
13%
Average Home Value
$215,302
$210,585
$233,221
NEARBY MAJOR RETAILERS
SALE ADVISORS
SALE ADVISORS
Adam Johnson, Executive Vice President
Adam Johnson is an Executive Vice President in the Office Services & Capital Markets Group and a shareholder at NAI Hiffman. Adam specializes in office investment sales, assisting owners, users, and banks, purchase or sell office and flex/industrial space throughout the Chicago suburbs. Adam joined NAI Hiffman in 2008 focused on leasing and sales of suburban office product. His unique background in leasing helps him bring a unique perspective to underwriting, trends, space utilization and how it effects the value of an asset. He has been involved in over 500 transactions totaling over 4 Million square feet in his career.
Tom Gnadt, Vice President
Tom Gnadt joined the NAI Hiffman Office Services team partnering with Adam Johnson and servicing their growing client base.
Tom joined NAI Hiffman in 2018 and has completed more than 32 transactions with a total consideration of over $13.6 M. Tom primarily focuses on small to mid-size building sales, landlord representation, tenant representation and medical office. Tom is also a member of the Medical Services Team at NAI Hiffman, which assists in the real estate needs of healthcare organizations and healthcare investors.
Tom joined NAI Hiffman in 2018 and has completed more than 32 transactions with a total consideration of over $13.6 M. Tom primarily focuses on small to mid-size building sales, landlord representation, tenant representation and medical office. Tom is also a member of the Medical Services Team at NAI Hiffman, which assists in the real estate needs of healthcare organizations and healthcare investors.
Dan Hiffman, Vice President
Dan Hiffman has over 23 years of commercial real estate experience during which he has performed all aspects of retail brokerage representation including land, landlord representation, and tenant representation. Dan’s primary focus is providing real estate solutions that include site search analysis, acquisition and disposition, and leasing services.
ABOUT THE AUCTION TECHNOLOGY
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AUCTION CONTACT
Molly Patten
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 478027045
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOURS
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Vacant Former Theater | South Side of Chicago | 210 W 87th St
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Vacant Former Theater | South Side of Chicago | 210 W 87th St
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