2860 Skokie Valley Rd - Highland Park, IL 60035
The Mele Group of Marcus & Millichap is pleased to offer the Highland Park Self-Storage Development Opportunity in the Chicago metropolitan area. The proposed development will benefit from its strategic position along a main thoroughfare and surrounded by an excellent five-mile demographic boasting substantial median and average household incomes of $130,783 and $201,405, respectively, indicative of Chicago's affluent North Shore communities.
Located on approximately 2.17 acres, the proposed site is situated on a B3-zoned parcel, allowing for self-storage development upon approval by the city. Once constructed, a proposed 90,000 rentable square feet and 120,000 gross building area square feet are projected to house fully climate-controlled units. The location has direct frontage on U.S. Highway 41/Skokie Valley Road, which sees traffic counts of over 49,400 vehicles daily, and is 0.3 miles from State Highway 22, 1.8 miles from State Highway 43 and 3.0 miles from Interstate 94/Tri-State Tollway.
Skokie Valley Road serves as a primary retail destination for Highland Park, lined by nationally-recognized vendors and surrounded by single-family, residential communities. National retailers on Skokie Valley in proximity to the subject site include Target, Staples, CVS, Starbucks and Dunkin Donuts, among many others in a less than one-mile distance.
Highland Park is part of the North Shore suburb of the Chicago MSA. The City of Highland Park is known for its economically solid demographic, vibrant shopping district and concerts at the Ravinia Festival, which is the summer home to the renowned Chicago Symphony Orchestra. Chicago's North Shore community is one of the nation's most affluent and highly-educated areas with seven of its communities in the top quintile of U.S. household income, and Highland Park is in the top five percent.
The Chicago MSA is the third largest metropolitan area in the country and the 22nd most populous metropolitan area in the world with an estimated 2015 population of 9,472,676 individuals. Chicagoland is reputed for housing many Fortune 500 companies including Walgreens, McDonald's, Boeing and State Farm.
The Highland Park Development Opportunity is being offered at $1,950,000.