Hilco Real Estate Announces the Sale of Three Well-Maintained Surplus Bank Branches Ideal for Reuse or Redevelopment
Mar 19, 2021, Hilco Real Estate, LLC announces the sale of three well-maintained surplus bank branches in Illinois and Indiana. The Illinois sites are in the communities of Winthrop Harbor and Beach Park, just six miles apart and approximately one hour north of downtown Chicago. The third location is situated in the city of Hammond, Indiana, just one block away from the Illinois state line. All three former bank branches are located along well-traveled roads, making them ideal for retail, office (CPA, legal, etc.), medical reuse or redevelopment opportunities.
The building available for sale in Winthrop Harbor offers a prime location at a lighted intersection on Sheridan Road. The vacant, 5,306 square-foot building is situated on a sizable 1.47-acre lot and features six drive-thru teller lanes, a large monument sign, and on-site parking providing more than 30 spaces. The asking price for this property is $650,000. Winthrop Harbor, a village of approximately 7,000 people according to the U.S. Census Bureau, attracts nearly one million visitors every summer to its Lake Michigan beaches, parks, and recreational facilities. The property is close to the Winthrop Harbor Metra stop and North Point Marina, the largest marina on the Great Lakes according to Winthrop Harbor’s website. Nearby businesses include Delhi Bistro, Lighthouse Pub & Grill, Tavern and Roma Pizza & Pasta.
The second Illinois property is a 2,322-square-foot building situated on a 1.49-acre lot along West Wadsworth Road in the Village of Beach Park. The parcel’s expansive size provides for significant potential outdoor storage space or future expansion of the current improvements. The property provides easy access to Route 41, Green Bay Road and Sheridan Road. In addition to its prime location, the property includes a large monument sign on Wadsworth Road, allowing maximum visibility from this heavily traveled thoroughfare. On-site parking provides more than 30 spaces, and the asking price for the building is $325,000. The property is adjacent to Waukegan National Airport, and nearby businesses include Dollar General, Domino’s Pizza, ThunderHawk Golf Club, Travelodge by Wyndham and Walgreens.
The third building available for sale is located at 5545 South Hohman Avenue in Hammond, Indiana, a city of approximately 75,000 people. The site boasts easy ingress/egress to Hohman Avenue as well as proximity to I-90 and I-94. The site’s hard corner location together with a large pylon sign provide high visibility to passersby. The building totals 836 square feet and is situated on a half an acre, with on-site parking for 13 vehicles. Hammond is home to one of the two Purdue University Northwest Campuses in Northwest Indiana, which enrolled approximately 10,000 students in 2019. Horseshoe Casino, located right along Lake Michigan, is a 15-minute drive north of the property and is one of three casinos within ten miles of the property. Other nearby businesses include Centier Bank, Family Dollar, First Merchants Bank, Franciscan Health Hospital, Hammond Public Library and Strack & Van Til.
Steve Madura, senior vice president at Hilco Real Estate, stated, “These former bank buildings have been well-maintained, are in prime locations, and, overall, have a lot to offer for their next use.” He continued, “With little effort or imagination, these properties could easily be reused as retail, medical, professional office or as a complete redevelopment play.”
Offers may be submitted via mail to the following address: Hilco Real Estate, 5 Revere Drive, Suite 410, Northbrook, IL 60062, or via email to firstname.lastname@example.org. For more information regarding the sale process or to schedule an on-site appointment, please contact Steve Madura at (847) 504-2478 or email@example.com or Adam Surkis at (847) 849-2963 or firstname.lastname@example.org.
For further information on these properties and other First Midwest Bank properties for sale, an explanation of the sale process or to obtain access to property due diligence documents, please visit HilcoRealEstate.com or call (855) 755-2300.
About Hilco Real Estate
Hilco Real Estate (“HRE”), a Hilco Global company (HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies and techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.