South Holland IL Commercial for Sale
$2,999,770
16300 Louis Avenue South Holland, IL 60473
- Type:
- Other
- Sq.Ft.:
- 162,816
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 7.8 Acres
- Year built:
- 1974
- Baths:
- MLS#:
- 12156836
View additional info
Courtesy: Crown Heights Realty
312-440-7000
ADDITIONAL INFORMATION
The former Celebrate Senior Living of South Holland, an exceptional investment opportunity in the heart of South Holland, IL. This well-maintained property, encompassing 253 units, is thoughtfully designed to foster a vibrant, social environment for its residents. The expansive 162,816 square foot, six-story building sits on nearly 8 acres of beautifully landscaped grounds, featuring lush courtyards, walking paths, and an outdoor gazebo-perfect for enjoying a serene summer day. Previously operating as a senior housing community, the property offers a wide range of modern amenities including a spacious grand dining room, private recreation room, large commercial kitchen, cafe, library, multiple lounge areas, activity rooms, chapel, salon, and common balconies on each floor. These features, along with its strategic location in a densely populated suburb less than 20 miles south of Chicago, make it an ideal candidate for redevelopment as either a continued senior living facility or a high-demand apartment complex. South Holland's strong local demand fundamentals are supported by a surrounding population exceeding 460,000 within a 7-mile radius. This offering provides investors with the unique opportunity to acquire a significant asset in a dense urban submarket of the Chicago MSA with attractive value-add potential. Since 2019, the property has seen over $1.5 million in capital improvements, including roof replacement, unit conversions (from studios to one-bedrooms), and common area renovations, positioning it well for future growth and enhanced resident satisfaction. The seller, a non-profit entity, has enjoyed the benefit of property tax exemption, further enhancing the financial appeal of this opportunity. Whether you are looking to redevelop the site into a modern senior living community or capitalize on the high demand for apartment living in the area, this property offers a compelling investment opportunity with significant upside potential. Don't miss the chance to secure a landmark asset in a prime location.
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South Holland Real Estate
The median home value in South Holland, IL is $250,000. This is lower than the county median home value of $279,800. The national median home value is $338,100. The average price of homes sold in South Holland, IL is $250,000. Approximately 77.58% of South Holland homes are owned, compared to 16.77% rented, while 5.66% are vacant. South Holland real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a South Holland real estate agent to arrange a tour today!
South Holland, Illinois has a population of 21,524. South Holland is less family-centric than the surrounding county with 17.34% of the households containing married families with children. The county average for households married with children is 29.73%.
The median household income in South Holland, Illinois is $72,345. The median household income for the surrounding county is $72,121 compared to the national median of $69,021. The median age of people living in South Holland is 41.4 years.
South Holland Weather
The average high temperature in July is 84.2 degrees, with an average low temperature in January of 18.2 degrees. The average rainfall is approximately 38.5 inches per year, with 31.4 inches of snow per year.