Description
SHOVEL-READY & DE-RISKED: Prime B3 Commercial Site in Active TIF District Stop waiting for entitlements. Start building. Most opportunities come with 12 months of zoning risk and municipal hurdles. This site is different. Positioned in a high-visibility South Suburban Chicago corridor, this 0.80-acre commercial parcel is fully entitled and financially incentivized for immediate redevelopment. Zoning is Not a Contingency: B3 is Active Don't waste six figures on legal fees and a year of your life fighting for a use variance. Active B3 Status: The B3 General Business zoning is in place today. Immediate Execution: Whether your goal is Retail, Medical, QSR, or Professional Service-you buy, you permit, you build. Broadest Use Case: This is the most flexible commercial designation in the code, designed specifically for high-intensity business and regional commerce. Active TIF District - Not Theoretical, But Certified This property sits within an active and certified TIF district with a proven track record of supporting local development. Hard Cost Reimbursement: Eligible expenses-including site work, utility connections, parking lot construction, and facades-can be reimbursed through TIF increments. Proven Success: The village has already approved and funded TIF reimbursements for nearby projects. The path to financial assistance is established and active. This is a direct boost to your Pro-Forma and long-term ROI. Strategic High-Visibility Location Frontage & Exposure: Situated on a high-traffic thoroughfare with constant daily eye-balls and excellent linear frontage. Demographic Strength: Surrounded by a stable, high-density residential consumer base and a thriving mix of national retail and service brands. Accessibility: Easy ingress/egress and seamless connectivity to major regional transportation routes and surrounding Chicago suburbs. The Offering: A Plug-and-Play Development Site This 0.80-acre site is the ideal footprint for a flagship location or a multi-tenant strip. While the existing 100-year-old structure is a teardown, the value is in the dirt, the dirt's designation, and the municipal backing. Site Condition: Flat, accessible, and ready for site-prep. Market Position: Located in a resilient growth corridor where flexible B3 land is increasingly scarce. Investment Profile: Perfect for 1031 exchange buyers, franchise operators seeking speed-to-market, or value-add developers. Key Highlights at a Glance: ZONING: B3 General Business (Active & In-Place). TIF: Certified District (Eligible for hard-cost reimbursements). ENTITLEMENTS: No zoning contingencies required. UTILITIES: Available to site. LOCATION: High-visibility South Suburban Chicago corridor. This is a rare chance to acquire a commercial asset where the municipal heavy lifting has already been done for you.
Property Highlights
Property Type: Commercial - Business
Building Description: 1.0 stories
Year Built: 1932
General Information
County: Cook
Listed By:
John Bonaguro
312-625-2062
MRED MLS
MLS ID: 12637984
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3255 183rd Street, Homewood, IL 60430.
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $389,000 | $389,000 | $389,000 |
| Down Payment | $77,800 | $13,615 | $97,250 |
| Monthly Mortgage Amount | $1,866 | $2,290 | $2,403 |
| Taxes | $541 | $541 | $541 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $171 | $0 |
| Monthly Estimated Total | $2,520 | $3,115 | $3,057 |
Ann Williams
Cell: (563) 207-6770
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