Tammy Saia Contact Info:
Phone: (630) 570-2226
Email: tsaia@marcusmillichap.com
Tami Andrew Contact Info:
Phone: (630) 570-2179
Email: tandrew@marcusmillichap.com
Chicago Southside - Redevelopment Opportunity
AUCTION
STARTING BID $250,000
27,100 SF Retail Building + 1.48 AC Parking Lots | Zoned B3-1, M1-1, and Residential
AUCTION NOVEMBER 14-16, 2023
Chicago Southside - Redevelopment Opportunity
Former Bowling Alley and Restaurant with Additional Satellite Parking Lots (Nine Separate Parcels)
16,300 VPD Traffic Counts Passing Site with Nearby Signalized Intersection of Pulaski, W 87th Street and Southwest Highway Having over ±63K VPD
Bowling Alley is Zoned for Residential and Separately Parceled Off-Site Parking Lots are Zoned B3-1 (Retail, Business) and M1-1 (Light Manufacturing, Warehouses)
Dense 2023 Population over 215,000 within 3-Miles and Average Household Income over $87,000 | One Block from Metra
Nearby National Retailers: Meijer, Menards, Sam’s Club, Target, Dunkin, Walmart, Aldi, Costco, and More
Surrounding Traffic Drivers: Midway Airport (±5 miles), Advocate Christ Medical Center (±1.8 miles), and Surrounded by Established Residential
3900 W Columbus Avenue, Chicago, IL 60652
Request Offering Memorandum
UNDER CONTRACT
Market Summary
Starting Bid $250,000
Rentable SF 27,100 SF
Year Built 1958
Lot Size 2.12 Acres
Description
Marcus & Millichap and RI Marketplace are pleased to offer for auction the former Bluebird Lanes bowling alley and additional parking lots located at 3900 W Columbus Avenue in Chicago, IL (the “Properties”). The Properties are located just off the 63,000 vehicle per day three-way intersection of Pulaski Rd/87th St/Columbus Ave and span three separate locations (nine PINs) along Columbus Avenue. The Properties offer an exceptional redevelopment opportunity with significant value enhancement potential and will be sold together.
The Bowling Alley site consists of a single-story building totaling 27,100 square feet. The building benefits from 297 feet of frontage along Columbus Avenue and visibility to traffic counts of 16,300 vehicles per day. The other two sites also benefit from high traffic counts along W Columbus Avenue. According to the alderman’s office, the bowling alley site is zoned residential. The parcels bordered by Springfield and Columbus are zoned B3-1 and the last parcel facing Columbus are zone M1-1. This dense pocket of Chicago has a population of 215,521 within a three-mile radius with an average household income of $85,168.
There is an appetite for new development in the area and our belief is that this is a redevelopment project.