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3255 183rd St , Homewood, IL 60430
$389,000
Est. Payment: $2,087.17/mo
0.8 Acres
Status: active | Days on site: 169
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23007 - 216852
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House Description

SHOVEL-READY & DE-RISKED: Prime B3 Commercial Site in Active TIF District Stop waiting for entitlements. Start building. Most "opportunities" come with 12 months of zoning risk and municipal hurdles. This site is different. Positioned in a high-visibility South Suburban Chicago corridor, this 0.80-acre commercial parcel is fully entitled and financially incentivized for immediate redevelopment. Zoning is Not a Contingency: B3 is Active Don't waste six figures on legal fees and a year of your life fighting for a use variance. Active B3 Status: The B3 General Business zoning is in place today. Immediate Execution: Whether your goal is Retail, Medical, QSR, or Professional Service-you buy, you permit, you build. Broadest Use Case: This is the most flexible commercial designation in the code, designed specifically for high-intensity business and regional commerce. Active TIF District - Not Theoretical, But Certified This property sits within an active and certified TIF district with a proven track record of supporting local development. Hard Cost Reimbursement: Eligible expenses-including site work, utility connections, parking lot construction, and facades-can be reimbursed through TIF increments. Proven Success: The village has already approved and funded TIF reimbursements for nearby projects. The path to financial assistance is established and active. This is a direct boost to your Pro-Forma and long-term ROI. Strategic High-Visibility Location Frontage & Exposure: Situated on a high-traffic thoroughfare with constant daily eye-balls and excellent linear frontage. Demographic Strength: Surrounded by a stable, high-density residential consumer base and a thriving mix of national retail and service brands. Accessibility: Easy ingress/egress and seamless connectivity to major regional transportation routes and surrounding Chicago suburbs. The Offering: A "Plug-and-Play" Development Site This 0.80-acre site is the ideal footprint for a flagship location or a multi-tenant strip. While the existing 100-year-old structure is a teardown, the value is in the dirt, the dirt's designation, and the municipal backing. Site Condition: Flat, accessible, and ready for site-prep. Market Position: Located in a resilient growth corridor where flexible B3 land is increasingly scarce. Investment Profile: Perfect for 1031 exchange buyers, franchise operators seeking speed-to-market, or value-add developers. Key Highlights at a Glance: ZONING: B3 General Business (Active & In-Place). TIF: Certified District (Eligible for hard-cost reimbursements). ENTITLEMENTS: No zoning contingencies required. UTILITIES: Available to site. LOCATION: High-visibility South Suburban Chicago corridor. This is a rare chance to acquire a commercial asset where the municipal heavy lifting has already been done for you. CIVIL VERIFIED & SHOVEL READY (Zoned B-3): Official confirmation from Village Economic Development & Engineering: Exempt from on-site stormwater detention (utilizes adjacent municipal retention pond-saving $60k-$100k in underground vault construction). High-efficiency pad site located entirely outside FEMA floodplain (Zone X). Utilities (Water/Sanitary Sewer) located directly at the property footprint on the south side of the street. Village-controlled Right-of-Way ensures fast-tracked driveway curb-cut permitting. Perfect for urgent medical, retail, or local owner-user expansion. Listing Agent has an ownership interest in the property

Highlights

Listed by John Bonaguro , 312-625-2062 John Bonaguro , 312-625-2062. Midwest Real Estate Data mls logo

Property Type

Commercial Sale

Lot/Acreage
0.8

Year Built

1932

County

Cook

Area

Homewood

Listing ID

12637984

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Interior Features

Exterior Features

Lot Dimensions:132x264
Principal Interest
$2,087
Taxes
$588

Home Price

$389,000

Loan Details

30 yrs
7.08%

Down Payment

20%
$77,800
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$2,087.17

Principal

Taxes

Principal Taxes HOA Total
Monthly $2,087.17 $587.50 $0.00 $2,674.67
Yearly $25,046.02 $7,050.00 $0.00 $32,096.02
Total $751,380.60 $211,500.00 $0.00 $962,880.60
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Master Chief
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Market insight data is pulled from the same city as the listing being viewed (Homewood, IL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information submitted to the MRED as of the date listed below. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers' personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time.

Based on information submitted to the MLS GRID as of the date listed below. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers' personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability. Some listings have been excluded from this website.

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Data last updated: 2026-10-27T06:57:04.000Z

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