Overview
Transwestern Midwest Capital Markets Team is the exclusive agent for the sale of 2720 River Road located
in Des Plaines, Illinois (the “Property”). The Property, containing approximately 5.59 acres with a 108,125
square foot office building, is an ideal candidate for
re-development. This is a rare opportunity to acquire
infill acreage in an exceptional location near O’Hare Airport, Rivers Casino, a robust office submarket and multiple entertainment venues. The site has direct visibility to the Tri-State Tollway (I-294) with over 550 feet of tollway frontage and traffic counts of 195,000 vehicles
per day. Des Plaines is a developer-friendly municipality and is open to a variety of uses.
Investment Highlights
EXTREMELY ACCESSIBLE, HIGH VISIBILITY LOCATION ON INTERSTATE 294 IN PROXIMITY TO O'HARE INTERNATIONAL AIRPORT AND CENTRALLY LOCATED IN THE STRONG O'HARE OFFICE CORRIDOR AND CHICAGOLAND'S MOST VIBRANT SHOPPING & ENTERTAINMENT AREA
2720 River sits in the heart of a vibrant dining, entertainment
and shopping area, all located within a five-minute drive.
Tenants or hotel guests can catch a game at the Chicago Dogs Impact Field, enjoy an evening at Rivers Casino, free summer concerts at the Parkway Bank Entertainment District or catch
a show at Allstate Arena or the Rosemont Theater. In addition
to the many local attractions, there are a plethora of restaurants ranging from casual dining to white tablecloth for a quick bite
or client entertaining.
5.59 +/- ACRE SITE READY FOR ADAPTIVE RE-USE WITH MULTIPLE OPTIONS, INCLUDING UPSCALE INDUSTRIAL,
MULTI-FAMILY, SENIOR HOUSING OR HOSPITALITY
Developers can take advantage of the short-term leases
and existing termination clauses to make way for multiple redevelopment options and alternative uses. The current
building has a lower level that is ideal for future amenity
space and retaining the existing footprint can save significantly
on development costs. The site currently has abundant
parking with over 349 surface parking spaces.
OPPORTUNITY TO COMBINE ENERGY EFFICIENT IMPROVEMENTS WITH C-PANE FINANCING FOR ENHANCED RETURNS
Commercial Property Assessed Clean Energy (C-PACE) has become a valuable tool for owners and developers. The program enables up to 100% long-term, fixed-rate financing for energy efficiency, renewable energy, resiliency, water use and electric
car charging building improvements on existing buildings or new construction. Private capital funding is secured by a special assessment lien on the property and is repaid as a line item on
the property tax bill. In addition, if allowed by leases, the C-PACE assessment can be passed through to tenants and transfers upon sale to the next property owner. With the enormous redevelopment potential at the Property, C-PACE will be an invaluable part of enhancing returns and sustainability.
TRANSIT-ORIENTED LOCATION CREATES A PERFECT OPPORTUNITY FOR MULTI-FAMILY HOUSING AND HOSPITALITY
The Property benefits from its proximity and access to the Jane Addams Memorial Tollway (I-90), Interstate 294 and abundant public transportation. A PACE bus stop at the entrance to the Property provides weekday service between North Prospect Heights, Kensington Business Center, Western Des Plaines,
Rivers Casino and the Rosemont CTA Blue Line Station. Additionally, commuter rail service is provided by Metra, with several stations in the vicinity. Located within 5 minutes by car
or by quick bus ride, the CTA Blue Line runs from Downtown Chicago to O’Hare and is one of only two CTA train lines that operate on a 24-hour schedule.
