16300 Louis AVE Active

South Holland,IL 60473

$ 2999770

- Bed

0 Bath

162816 SqFt


Key Details

Property Type Commercial

Sub Type Instut/To Develop

Listing Status Active

Purchase Type For Sale

Square Footage 162,816 sqft

Price per Sqft $18

MLS Listing ID 12156836

Year Built 1974

Tax Year 2023

Lot Size 7.800 Acres

Property Description

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.

Location

State IL

County Cook

Area South Holland

Zoning MULTI

Interior

Cooling Wall Sleeve

Exterior

Utilities Available Electric to Site,Gas to Site,Sanitary Sewer,Water-Community,Water to Site

Waterfront false

Building

Dwelling Type Instut/To Develop

Structure Type Concrete

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