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Vacant-User

$1 Auction - Former US Bank 27K VPD – Chicago MSA

12004 S Pulaski Rd, Alsip, IL 60803

Listing Price: $1

Gross SF
4,352
Rentable SF
4,352
Lot Size
0.93 acres
Year Built
1966

Investment Overview

RI Marketplace Online Auction Feb 20-22, 2024

Register to Bid and Access Due Diligence Documents on RI Marketplace

Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing, retail building located at 12004 S Pulaski Road in Alsip, IL (the “Property”). The Property is offered significantly below replacement cost and offers an exceptional owner/user or investment opportunity with significant value enhancement potential at a significant discount. FIRST BID MEETS RESERVE!

Built in 1966, the Property is improved with a two-story, free-standing, single tenant building totaling ±4,352 square feet. The Property was formerly occupied by US Bank on a triple net lease and offers potential owner users/investors the ability to acquire a free-standing retail building with significant value add through lease up at long term market rates (CoStar estimated rents of $17-21/SF NNN). The Property is strategically positioned on a ±0.9313 AC (±40,594 SF) parcel which is improved with a retail/office building that features a brick veneer, walk-in vault, three drive-thru lanes, office areas, and a ±1,438 SF detached frame building. There exists a partial second story on the north side of the building totaling ±680 SF which could possibly be used as storage area or a large conference room. The Property offers 45 surface parking spaces and is easily accessible via multiple points of egress/ingress and ±175’ frontage along S Pulaski Rd and ±292’ frontage on W 120th Street. The building is positioned on a hard corner and zoned B-1, Business District, which offers favorable flexible zoning allowing for a variety of commercial and retail uses via adaptive reuse or repositioning.

The Property is located the Chicago metropolitan area within Cook County and is part of the Near South Cook submarket. The Property offers excellent visibility with direct frontage on the heavily trafficked Pulaski Rd (±27,058 VPD) and is easily accessible via I-294 which is ±2-miles from the Property and offers convenient access to the greater Chicago area. The Property is positioned adjacent to Burger King and is strategically located near several daily traffic generators including grocery stores Jewel-Osco, ALDI, and Food 4 Less. The Property is located near numerous education demand drivers including Saint Xavier University (±3,750 Students), Marist High School (±1,750 Students), Chicago High School for Agricultural Sciences (±700 Students), and Hamlin Middle School. The Property is also near corporate demand drivers and is within 10-minutes of the international headquarters of Griffith Laboratories’ HQ, Alsip MiniMill, and one of the two Chicago area Coca-Cola bottling plants. The Property is located ±25-min from Chicago Midway International Airport, ±30-min from downtown Chicago, and ±12-min from Advocate Christ Medical Center, a 788-bed teaching hospital with more than 1,500 affiliated physicians located in Oak Lawn, a suburb of Chicago. Additionally, the site is within 10 miles of Lake Katherine Nature Center and SeatGeek Stadium, home of the Chicago Fire soccer club. The Property is positioned in a dense area that serves ±129,468 people with an AHHI of $97,660 within a 3-mile radius and ±359,730 people with an AHHI of $93,024 within an expanded 5-mile area.

Scott Bowers, Auctioneer

Fisher Auction Company Inc.

IL License: 040000273

Investment Highlights

  • ABSOLUTE $1 AUCTION | 27K VPD – Chicago MSA | AUCTION FEBRUARY 20-22, 2024
  • Freestanding Former US Bank Available at a Significant Discount Below Replacement Cost
  • Excellent Visibility with Direct Frontage to ±27,058 VPD on Pulaski Rd; Downtown Chicago Nearby (±30 Minute Drive)
  • Adjacent To Burger King And Across from Jewel-Osco Grocery Center with McDonald's, Aldi, Dunkin, Sonic and More Nearby
  • Attractive Demographics with ±129,468 People and Annual Household Income of ±$97,660 within a 5-Mile Radius
  • Zoned B-1, Business District Zoning with a Variety of Commercial Uses including Retail, Office, Restaurant, and More

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Vacant-User

$1 Auction - Former US Bank 27K VPD – Chicago MSA

Listing Price: $1

Gross SF
4,352
Rentable SF
4,352
Lot Size
0.93 acres
Year Built
1966

Investment Highlights

  • ABSOLUTE $1 AUCTION | 27K VPD – Chicago MSA | AUCTION FEBRUARY 20-22, 2024
  • Freestanding Former US Bank Available at a Significant Discount Below Replacement Cost
  • Excellent Visibility with Direct Frontage to ±27,058 VPD on Pulaski Rd; Downtown Chicago Nearby (±30 Minute Drive)
  • Adjacent To Burger King And Across from Jewel-Osco Grocery Center with McDonald's, Aldi, Dunkin, Sonic and More Nearby
  • Attractive Demographics with ±129,468 People and Annual Household Income of ±$97,660 within a 5-Mile Radius
  • Zoned B-1, Business District Zoning with a Variety of Commercial Uses including Retail, Office, Restaurant, and More

Investment Overview

RI Marketplace Online Auction Feb 20-22, 2024 Register to Bid and Access Due Diligence Documents on RI Marketplace Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing, retail building located at 12004 S Pulaski Road in Alsip, IL (the “Property”). The Property is offered significantly below replacement cost and offers an exceptional owner/user or investment opportunity with significant value enhancement potential at a significant discount. FIRST BID MEETS RESERVE! Built in 1966, the Property is improved with a two-story, free-standing, single tenant building totaling ±4,352 square feet. The Property was formerly occupied by US Bank on a triple net lease and offers potential owner users/investors the ability to acquire a free-standing retail building with significant value add through lease up at long term market rates (CoStar estimated rents of $17-21/SF NNN). The Property is strategically positioned on a ±0.9313 AC (±40,594 SF) parcel which is improved with a retail/office building that features a brick veneer, walk-in vault, three drive-thru lanes, office areas, and a ±1,438 SF detached frame building. There exists a partial second story on the north side of the building totaling ±680 SF which could possibly be used as storage area or a large conference room. The Property offers 45 surface parking spaces and is easily accessible via multiple points of egress/ingress and ±175’ frontage along S Pulaski Rd and ±292’ frontage on W 120th Street. The building is positioned on a hard corner and zoned B-1, Business District, which offers favorable flexible zoning allowing for a variety of commercial and retail uses via adaptive reuse or repositioning. The Property is located the Chicago metropolitan area within Cook County and is part of the Near South Cook submarket. The Property offers excellent visibility with direct frontage on the heavily trafficked Pulaski Rd (±27,058 VPD) and is easily accessible via I-294 which is ±2-miles from the Property and offers convenient access to the greater Chicago area. The Property is positioned adjacent to Burger King and is strategically located near several daily traffic generators including grocery stores Jewel-Osco, ALDI, and Food 4 Less. The Property is located near numerous education demand drivers including Saint Xavier University (±3,750 Students), Marist High School (±1,750 Students), Chicago High School for Agricultural Sciences (±700 Students), and Hamlin Middle School. The Property is also near corporate demand drivers and is within 10-minutes of the international headquarters of Griffith Laboratories’ HQ, Alsip MiniMill, and one of the two Chicago area Coca-Cola bottling plants. The Property is located ±25-min from Chicago Midway International Airport, ±30-min from downtown Chicago, and ±12-min from Advocate Christ Medical Center, a 788-bed teaching hospital with more than 1,500 affiliated physicians located in Oak Lawn, a suburb of Chicago. Additionally, the site is within 10 miles of Lake Katherine Nature Center and SeatGeek Stadium, home of the Chicago Fire soccer club. The Property is positioned in a dense area that serves ±129,468 people with an AHHI of $97,660 within a 3-mile radius and ±359,730 people with an AHHI of $93,024 within an expanded 5-mile area. Scott Bowers, Auctioneer Fisher Auction Company Inc. IL License: 040000273

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

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