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Former Bank Branch — Full-Acre Chatham Corner 371 E 87th St 8 300 pi² Bureau Immeuble Chicago, IL 60619 1 232 429 $ CAD (148,49 $ CAD/pi²)
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Faits saillants de l'investissement
- Full-acre (0.99 AC) signalized corner at 87th & King Drive — three parcels, ~300 ft of 87th St frontage
- Sold as-is, owner-direct (no broker); condition priced in — gut/retrofit opportunity in a Chatham corridor with active healthcare & pharmacy demand
- Five drive-thru lanes (two canopied) with drive-up vaults — rare queue-ready infrastructure for pharmacy, clinic, QSR or credit union
Résumé de l'annonce
8700 S King Drive, Chicago, IL 60619 (corner parcel also addressed 347-371 E 87th St)
GN Bank is selling its former Chatham branch — owner-direct, no broker. A rare full-acre signalized-corner site at 87th & King Drive with purpose-built banking infrastructure: approximately 8,000 rentable SF (±8,430 SF gross) single-story masonry building constructed in 2000, five drive-thru lanes (two canopied) with drive-up vaults, interior vault, dedicated security room, and hardened construction throughout.
SOLD STRICTLY AS-IS / WHERE-IS. Plan a gut renovation or systems retrofit. Honest condition summary:
- The building has been vacant and secured (steel window/door guards) since late 2024.
- A November 2024 forced-entry/ATM-theft incident damaged the drive-up area, interior plumbing and electrical, and portions of the bathrooms and ceilings. Damage is unrepaired.
- Roof leakage has been documented since 2021-22; ceiling water staining is present. Buyer should budget roof work.
- The parking lot requires full replacement (owner obtained a replacement proposal in 2024).
- Electric and gas service are disconnected; buyer re-energizes.
- Full written condition disclosure and photo set available to serious buyers on request.
Why this corner: Chatham's healthcare and pharmacy demand is real — the neighborhood lost its last Walgreens in June 2026, the Ward 6 pharmacy-access pilot is active, TCA Health's 340B clinic operates 2.5 blocks east, and the corridor has seen recent conversions of former bank buildings (a national QSR redeveloped the ex-Seaway drive-thru branch nearby). The drive-thru lanes suit pharmacy, clinic, QSR, credit union, or any queue-based operation; the 42,989 SF of land supports redevelopment under B3-1 zoning (Community Shopping District).
Key facts (full spec sheet available):
- Land: 42,989 SF / 0.99 acre corner, ~300 ft of 87th Street frontage across three parcels
- Building: ~8,000 RSF single-story masonry + drive-thru canopy, built 2000
- Zoning: B3-1 · Cook County class 5-28 (bank building) · No TIF district
- Taxes: TY2024 $66,323 (all parcels; seller clears all property-tax arrears at or before closing)
- CTA #87 bus at the corner; signalized intersection
- PINs: 25-03-105-049 / -050 / -051
Terms: $875,000. As-is/where-is, no repair credits (condition is priced in). Cash or proof-of-funds preferred; quick close available — seller can deliver clear title on a normal title-company timeline. Buyer's inspections welcome during a defined diligence window.
Contact: cnduom@gnbank.net · (872) 904-6116 (owner-direct). Property page: 8700king.4619mlk.com
GN Bank is selling its former Chatham branch — owner-direct, no broker. A rare full-acre signalized-corner site at 87th & King Drive with purpose-built banking infrastructure: approximately 8,000 rentable SF (±8,430 SF gross) single-story masonry building constructed in 2000, five drive-thru lanes (two canopied) with drive-up vaults, interior vault, dedicated security room, and hardened construction throughout.
SOLD STRICTLY AS-IS / WHERE-IS. Plan a gut renovation or systems retrofit. Honest condition summary:
- The building has been vacant and secured (steel window/door guards) since late 2024.
- A November 2024 forced-entry/ATM-theft incident damaged the drive-up area, interior plumbing and electrical, and portions of the bathrooms and ceilings. Damage is unrepaired.
- Roof leakage has been documented since 2021-22; ceiling water staining is present. Buyer should budget roof work.
- The parking lot requires full replacement (owner obtained a replacement proposal in 2024).
- Electric and gas service are disconnected; buyer re-energizes.
- Full written condition disclosure and photo set available to serious buyers on request.
Why this corner: Chatham's healthcare and pharmacy demand is real — the neighborhood lost its last Walgreens in June 2026, the Ward 6 pharmacy-access pilot is active, TCA Health's 340B clinic operates 2.5 blocks east, and the corridor has seen recent conversions of former bank buildings (a national QSR redeveloped the ex-Seaway drive-thru branch nearby). The drive-thru lanes suit pharmacy, clinic, QSR, credit union, or any queue-based operation; the 42,989 SF of land supports redevelopment under B3-1 zoning (Community Shopping District).
Key facts (full spec sheet available):
- Land: 42,989 SF / 0.99 acre corner, ~300 ft of 87th Street frontage across three parcels
- Building: ~8,000 RSF single-story masonry + drive-thru canopy, built 2000
- Zoning: B3-1 · Cook County class 5-28 (bank building) · No TIF district
- Taxes: TY2024 $66,323 (all parcels; seller clears all property-tax arrears at or before closing)
- CTA #87 bus at the corner; signalized intersection
- PINs: 25-03-105-049 / -050 / -051
Terms: $875,000. As-is/where-is, no repair credits (condition is priced in). Cash or proof-of-funds preferred; quick close available — seller can deliver clear title on a normal title-company timeline. Buyer's inspections welcome during a defined diligence window.
Contact: cnduom@gnbank.net · (872) 904-6116 (owner-direct). Property page: 8700king.4619mlk.com
Faits sur la propriété
Type de vente
Investissement ou propriétaire utilisateur
Condition de vente
Option du bail
Type de propriété
Bureau
Taille du bâtiment
8 300 pi²
Classe d’immeuble
B
Année de construction
2000
Prix
1 232 429 $ CAD
Prix par pi²
148,49 $ CAD
Location
Unique
Hauteur du bâtiment
1 étage
Superficie de plancher typique
8 300 pi²
Coefficient d’occupation des sols de l’immeuble
0,34
Taille du lot
0,57 AC
Zonage
B3-1 - Entreprises
Stationnement
30 places (3,61 places par 1 000 pi² loué)
Commodités
- Atrium
- Banque
- Ligne d'autobus
- Accès contrôlé
- Installations de conférences
- Terrain clôturé
- Système de sécurité
- Cuisine
- Espace d'entreposage
- Chauffage central
- Hauts plafonds
- Lumière naturelle
- Bureaux partitionnés
- Réception
- Entreposage sécurisé
- Climatisation
1 1
Très accessible à pied
80/100
Exceptionnellement adapté aux voitures
100/100
Bons transports en commun
70/100
Moyennement accessible en vélo
60/100
Données démographiques
Données démographiques
1 mille
3 mille
5 mille
2020 Population
29 274
257 942
582 949
2025 Population
28 736
256 735
580 557
Croissance démographique '20-'25
-1,8%
-0,5%
-0,4%
2020 Ménages
13 553
107 340
236 878
2025 Ménages
13 141
105 108
233 439
Croissance des foyers '20-'25
-3,0%
-2,1%
-1,5%
Âge moyen
43
41
40
Revenu médian par ménage
46 446 $
46 819 $
49 251 $
Employés de jour
5 108
42 763
134 863
Total des entreprises
728
5 632
17 107
Diplôme collégial et diplôme supérieur
29%
22%
26%
Valeurs en dollars américains
Impôts fonciers
| Numéros de lot | Évaluation des bâtiments | 312 371 $ CAD | |
| Évaluation du terrain | 151 375 $ CAD | Évaluation totale | 463 745 $ CAD |
Impôts fonciers
Numéros de lot
Évaluation du terrain
151 375 $ CAD
Évaluation des bâtiments
312 371 $ CAD
Évaluation totale
463 745 $ CAD
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Présenté par
GN Bank
Former Bank Branch — Full-Acre Chatham Corner | 371 E 87th St
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