Commercial Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago,
25 Acre of Land to Lease in Northern Illinois
Good afternoon all,
My boss has called upon me to review a large parcel of land they own in north-central Illinois. It's at a signalized intersection that sees about 11,000 vehicles per day, and can be seen from the interstate 0.5 miles away by another 32,500 vehicles per day.
While it's a semi-rural area, many visitors come from all over the states to visit a park just a few miles down the road. Over 2 million visitors per year.
My initial thoughts are coffee shop and hotel, then watch the entire area take off.
I'm curious if anyone has any insight on whom to target, how to go about targeting them, and what other metrics and information I should have on hand when the discussion is brought to the table. I may be in over my head but I would like to accomplish this without hiring a commercial real estate broker. I see the incredible value in this property and can't imagine any business not thriving there once it becomes more developed.
Thank you for taking the time to read this and any comments or insights are most welcome.