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Small Town Charm meets the growing edge of Chicago.
This is the place you’ll want to be!
Mixed-Use Retail/Commercial and Residential/Senior
Living Development
Summary
A unique 124 acre parcel in Bourbonnais, IL, 50 miles SW of Chicago is
now in a position to be offered to retailers. The site is in the final
stages of entitlements pending input from the major retail tenants. The
road, grading and utility installations are presently under
construction and will be completed in two phases. This large site has
been planned to be a mixed use commercial, retail and senior living
PUD.
The zoning is for 105 usable acres or 1.1 million sq ft of buildable
area, depending upon the final design. The zoning does permit hotels.
The B-2 business area provides for 13 out parcels along three frontage
roads. Any desired changes to the plan can be processed in about 60
days as long as it stays within approved commercial and retail uses.
Fully adequate sewage capacity is available.
The area is continuing to experience excellent population growth. There
is a real need for a major retail development here with 10 active
residential subdivisions underway and 10 more in permitting.
Project Scope
Bourbonnais, IL, is located less than 50 miles southwest of Chicago, in
Kankakee County. The site is a 124.29 acre mixed use commercial
retail/residential Planned Unit Development, with over 2,520 feet of
road frontage on US-45, (a major roadway traversing much of the
northern portion of IL), another 1,915’ on the 5000 N Road. There will
also be another 1,954 feet of frontage along the 5500 N Road that the
Seller is constructing.
The Property was purchased on September 15, 2006 after finalizing the
Annexation agreement and zoning with the Village. The mixed use
commercial/residential PUD approved in June 2006 was subsequently
redesigned to maximize the commercial aspects of the property.
The commercial/retail site plan includes 105 acres of B-2 zoning (the
highest commercial zoning allowed by the Village) with 13
Commercial/Retail frontage parcels, four anchor tenant locations,
cinema and office parcels.
Unit One final plat which covers all of the
outparcels, currently has all utilities stubbed, the roads are
graded and the aggregate base has been laid in preparation for curbs and
asphalt.
Unit Two includes the remaining parcels and is awaiting final
entitlements pending input from the major retail tenants. An
application for an entrance to the site was made to IDOT
with our traffic and intersection design studies, having been approved
with final design details being reviewed at this time.
The remaining 19 acres of the site is to be used for “Green” areas and
roadways. The internal roads and utility easements will be owned and
maintained by the Town after completion.
The Village of Bourbonnais is experiencing unprecedented growth. With
more than ten active new residential subdivisions, an additional 10
pending subdivisions, and upwards of 3,000 new home sites, this village
has tremendous potential. The April 1, 2006, Chicago Tribune article
entitled “Living on the Edge” highlighted the many benefits of living
in Bourbonnais, more specifically that a home in Bourbonnais priced at
$250,000 would easily be $325,000-$350,000 even a short distance away.
The Village of Bourbonnais also purchased all of the excess sewage
capacity that the city of Kankakee made available, giving it a unique
advantage over the competing adjacent city of Bradley. This 4.5 million
gallon a day surplus will allow Bourbonnais to continue its growth
unlike Bradley which currently is at its maximum sewage capacity.
A Phase 1 environmental study has been performed and indicates no
environmental issues since this site has been used solely for
agricultural use. The Illinois Historic Preservation Agency has deemed
the site to be of no historic or prehistoric value. The site also does
not contain and flood plain or wetland areas. The site soils are
capable of supporting traditional spread footings.
The site is surrounded by more than 3,000 newly approved home-sites and
will take advantage of both path-of-development growth and a new
interstate exchange which has entered into phase II of engineering and
could commence construction in 2012. Access to the site will be through
two signaled intersections along Route 45.
Adjacent to the site is Cigna Health Care with 1,300 employees.
Additional medical offices are planned for the immediate area. A
current lack of mid to high end retail, service and restaurant
establishments place this development in a strategic position to fill
the current market vacuum making this an ideal site. A total of 23,600
people work in a 5-mile radius of the site and the 15-mile population
is 118,000 people and growing.
Location:
Intersection of US 45 and 5000 N Road, Bourbonnais, IL
Frontage on US 45, 5000 N Road, and 5500 N Road (over 6,387 total
linear feet of road frontage)
Planned interchange at 6000 N Road and I-57 (1 mile)
Parcel Number:
17-09-06-400-001
County:
Kankakee
3-Mile
Demographics:
Population 2007 – 22,554
Average Household Income - $67,408
55.7% of the population has yearly Household Incomes of $50,000 -
$200,000
5-Mile
Demographics: Population 2007 – 51,569
Average Household Income - $63,871
52.6% of the population has yearly Household Incomes of $50,000 -
$200,000
US RT. 45 ADT 2006: 13,000 vehicles per day
Adjacent Major
Metropolitan Area: Chicago 48 Miles away
Nearby College:
Olivet Nazarene University
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