This notification brought to you by the Village of Maywood:
PROPERTY DESCRIPTION AND DEMOGRAPHICS
This rectangular shaped corner lot on 33,105 square feet of land is located in Maywood, Illinois at 5th Avenue and Warren Street approximately 10 miles west of Chicago’s central business district. The entire village has been designated an Enterprise Zone by the State of Illinois. The Village of Maywood has established three (3) Tax Increment Finance (TIF) Districts: St. Charles Road TIF District, Madison/Fifth Avenue TIF District and the Roosevelt Road TIF District. The community is in the early stages of revitalization.
This parcel of land that has approximately 264 feet of frontage along the west side of 5th Avenue. The site has frontage along both School Street and Warren Avenue. Total site area is calculated at 33,105 square feet. The site is zone C-2 “Pedestrian-Oriented Commercial.” The highest and best use of this site would be a combination of retail and apartments due to its proximity to the Eisenhower Expressway and multiple public transportation options. There are strong daily traffic counts of over 10,000. Current rental rate ranges from $450 per month for a one bedroom apartment to over $1,300 per month for a three bedroom apartment. Newer properties in good condition have rents in the upper portion of this range. Commercial units in this western suburb market have asking leases at rates ranging from $2.07 to $15.78 per square foot. Regional mall shopping is available at Hillside Shopping Center, North Riverside Park Shopping Center and Oak Brook Shopping Mall.