FULL 4-WAY INTERCHANGE
OLD ORCHARD RD TRAFFIC COUNTS 27,900 SKOKIE BLVD
WOODS DR WOODS WESTFIELD HARMS OLD ORCHARD TRAFFIC COUNTS 21,080 FOREST MULTI-FAMILY/ PRESERVE NILES NORTH OFFICE HIGH SCHOOL SITE
5.0 ACRE SENIOR SITE
OPTIMA
TRAFFIC COUNTS 142,085
OLD ORCHARD WOODS | SKOKIE, IL SENIOR DEVELOPMENT SITE OF APPROXIMATELY 5.0 ACRES SUBJECT TO OFFER
The Property known as Old Orchard Woods will be redeveloped to a mixed-use development. Potential uses may be For-Sale Residential, Office, Multifamily and Seniors Housing. The overall site to be redeveloped is approximately 10.5 acres, with approximately 5 acres for a Senior Housing development site to be located to the south and west within the property. Additional acreage can be made available based on specific Senior development requirements. Old Orchard Woods is located just west of Edens Expressway (I-94) (142,085vpd) and south of Old Orchard Rd (27,900vpd) on the north side of Skokie. The property has direct access from Woods Dr. and visibility to Edens Expressway (I-94). Given the location within one-half mile of the Villages of Wilmette and Glenview, less than a mile from Evanston and the proximity to Westfield Old Orchard Shopping Center, this is a singular opportunity to develop Senior Housing in the heart of one of the most affluent areas in Chicago’s North Shore. Colliers International 6250 N. River Rd | Suite 11-100 Skokie enjoys a rock-solid reputation both regionally and nationally, enhancing investment Rosemont, IL 60018 opportunities in the Village. Old Orchard Shopping Center continues to be one of the P +1 847 698 8444 most successful open-air shopping centers in the country, evidenced by significant new construction adding new retailers, restaurants and attractions. colliers.com/chicago
Jeffrey Hyman +1 847 384 2827 Office +1 630 816 8753 Cell [email protected] Accelerating success. SENIOR DEVELOPMENT SITE APPROX. 5.0 ACRES | OLD ORCHARD WOODS, SKOKIE, IL
The demographics and economics of the trade area are enviable and supportive of Seniors Housing Development as further defined in the Offering Memorandum. The demographics and economics of the Skokie 3 Mile and 5 Mile PMA are exceptionally strong and supportive a new Seniors Housing Development as the DEMOGRAPHICS - 5 MILES following tables illustrate:
Current Population Market Demographics (2020) 391,690 3 Mile 5 Mile Population 138,723 391,690
45-65 Age Cohort 28.20% 26.60% Projected Population 65+ Age Cohort 22.70% 21.30% (2024) Average HH Inc (2020 est.) $145,431 $139,413 390,231 Med. Owner Housing Value $381,081 $391,666
Average Household Income (2020) Seniors Housing Data $139,413 Competition within 3 mile trade area:
monthly occupancy Average Home Value Assisted Living $7,126 88.9% (2020) Memory Care $9,776 82.7% $391,666 Independent Living Protected Protected Competition within 5 mile trade area:
monthly occupancy Assisted Living $6,580 80.4% Memory Care $9,144 80.8% Independent Living $3,910 81.4%
Based on Market studies conducted by Senior Market Research Associates in October and November 2019, the development potential based on unmet demand is among the highest in the region:
3 miles 2021 (units) 2023 (units) Assisted Living 445 477 Memory Care 168 220 Independent Living 227 259 Age Restricted Apts. 471 531
5 miles 2021 (units) 2023 (units) Assisted Living 2,044 2,214 Memory Care 730 858 Colliers International 6250 N. River Rd | Suite 11-100 Independent Living 280 462 Rosemont, IL 60018 Age Restricted Apts. 1,332 1,482 www.colliers.com
Jeffrey Hyman +1 847 384 2827 Office +1 630 816 8753 Cell [email protected] Accelerating success. SENIOR DEVELOPMENT SITE APPROX. 5.0 ACRES | OLD ORCHARD WOODS, SKOKIE, IL
NOT AVAILABLE
SENIOR DEVELOPMENT MULTI-FAMILY/OFFICE SITE DEVELOPMENT SITE
Jeffrey Hyman +1 847 384 2827 Office +1 630 816 8753 Cell [email protected] Accelerating success. SENIOR DEVELOPMENT SITE APPROX. 5.0 ACRES | OLD ORCHARD WOODS, SKOKIE, IL
WOODS DR
OLD ORCHARD RD
MULTI-FAMILY/OFFICE SENIOR DEVELOPMENT SITE DEVELOPMENT SITE
Jeffrey Hyman +1 847 384 2827 Office +1 630 816 8753 Cell [email protected] Accelerating success. SENIOR DEVELOPMENT SITE APPROX. 5.0 ACRES | OLD ORCHARD WOODS, SKOKIE, IL
OLD ORCHARD RD
Harms Forest Preserve
GOLF RD GOLF RD
Weber Park Golf Course Old Orchard Jr High School
CHURCH ST
Jeffrey Hyman +1 847 384 2827 Office +1 630 816 8753 Cell [email protected] Accelerating success. SENIOR DEVELOPMENT SITE APPROX. 5.0 ACRES | OLD ORCHARD WOODS, SKOKIE, IL
NORTHBROOK COURT NORTHBROOK
GLENCOE 5 MILES
4 MILES
WINNETKA 3 MILES NORTHFIELD
2 MILES KENILWORTH EDENS PLAZA
1 MILE WILMETTE GLENVIEW SITE OLD ORCHARD
EVANSTON
SKOKIE
CHICAGO 35 MINS. LINCOLNWOOD LINCOLNWOOD TOWN CENTER
Jeffrey Hyman +1 847 384 2827 Office +1 630 816 8753 Cell [email protected] Accelerating success.