3824 147th StreetMidlothian, IL 60445

Description

Exceptional MixedUse Opportunity in the Heart of Midlothian's Proposed Downtown Business District! Built in 1929, this historic commercial landmark offers the kind of solid, enduring construction rarely found today ready to generate income immediately while providing endless avenues for customization. Perfectly positioned adjacent to the Metra train station, the building benefits from steady daily foot traffic ideal for retail, service, or professional tenants. It sits within the Downtown TIF District, opening the door for redevelopment incentives and improvements tailored to your specific vision. The first floor features multiple entrances and flexible layout options, allowing you to lease spaces ranging from 500 sq. ft. up to 2,000 sq. ft. Whether you envision boutique retail, office suites, or specialty services, the configuration possibilities are wideopen. The upper level is where imagination truly takes flight. With soaring exposed beams, abundant natural light, and a unique industrial character, this space is primed for transformation into up to five loftstyle apartments or condominiums. It also offers an incredible setting for a restaurant, microbrewery, event space, or creative studio. A small service elevator is already in place and can be expanded to better serve the upper level. Car enthusiasts and collectors will appreciate the building's original purpose as a Ford dealership, complete with an access ramp leading to the upper floor-perfect for storing a custom car collection or even establishing a museum or gallery. Parking is convenient and plentiful, with the Metra lot across the street offering free evening parking for patrons, residents, or guests. This property is a rare blend of history, location, and adaptability. It can produce income as it stands today, while offering the freedom to customize, expand, and reimagine its future in countless ways. A true cornerstone opportunity in Midlothian's evolving downtown landscape.

Property Information

Property type

Commercial Sale

Sub-type

Mixed Use

Year built

1929

Building area

14,224 Sq Ft

Lot size

7,790 Sq Ft

Lot dimensions

28 x 140 x 3.5 x 122 x 83 x

Zoning

COMMR

Days on market

62

MLS^® Listing#

12744493

Property Features

Cooling

Central Air

Construction

Brick · Concrete

Foundation

Concrete Perimeter

Roof

Membrane

Utilities

Natural Gas Available · Sewer Connected · Water Available

Financial Details

Annual taxes

$26,594Tax year 2025

Parcel number

28111260230000

Directions

From Pulaski, go East on 147th. Property is on the Northwest corner of 147th and Waverly