350 S Northwest Freeway Park Ridge IL: a charming location ripe with potential, nestled inside the coronary heart of Park Ridge, Illinois. This tackle holds an interesting mix of historical past, group vibrancy, and business alternative. From the encompassing neighborhood’s demographics and facilities to the property’s distinctive traits, we’ll discover a wealth of data.
This in-depth take a look at 350 S Northwest Freeway will discover every part from the native enterprise local weather and group engagement to the true property market evaluation and potential growth alternatives. We’ll uncover hidden gems and potential challenges, offering a complete perspective on this location.
Overview of the Location
Park Ridge, Illinois, is a vibrant suburb located simply northwest of Chicago. 350 S Northwest Freeway is a primary location on this group, providing easy accessibility to a wealth of facilities and a typically fascinating residential really feel. The world is thought for its mix of family-friendly neighborhoods and a contact of suburban magnificence.
Common Space Description
The instant neighborhood of 350 S Northwest Freeway, Park Ridge, IL, is characterised by a mixture of residential properties, skilled workplace buildings, and retail areas. Close by landmarks embrace native parks, providing leisure alternatives, and a spread of outlets and eating places that cater to on a regular basis wants and particular events. The world boasts glorious entry to main highways, facilitating handy journey all through the Chicagoland space.
Historic Context
Park Ridge has a wealthy historical past, courting again to its early settlement and growth. The world’s evolution has been marked by intervals of development and transformation, mirroring the bigger tendencies of suburban growth within the Chicago metropolitan space. Particular particulars concerning the historical past of the actual property at 350 S Northwest Freeway should not available.
Neighborhood Demographics
The neighborhood surrounding 350 S Northwest Freeway is often characterised by a mixture of households and professionals. The demographics replicate a comparatively prosperous group with a robust emphasis on household values and group involvement. Many residents have ties to the world, and the group is thought for its welcoming ambiance.
Key Space Options
| Characteristic | Particulars |
|---|---|
| Inhabitants | Roughly 30,000 residents (estimated). This determine fluctuates primarily based on present census knowledge and the particular space being thought of. |
| Common Earnings | Typically above the nationwide common, reflecting the prosperous nature of the world. Particular figures differ primarily based on elements like family dimension, employment sectors, and different socio-economic variables. |
| Housing Sorts | A mix of single-family properties, townhouses, and probably some multi-family items. The prevalence of every kind can change over time, primarily based on tendencies in housing demand and market circumstances. |
Observe: Particular figures within the desk are estimates. For exact figures, discuss with official authorities knowledge sources.
Property Data
This part dives into the specifics of the property positioned at 350 S Northwest Freeway in Park Ridge, IL. We’ll study its present state, potential makes use of, and related historic knowledge. Understanding these particulars supplies a complete image of the property’s worth and potential.
Property Sort
The property at 350 S Northwest Freeway is a multi-story business constructing. Its design and structure are tailor-made for business actions.
Potential Makes use of
The constructing’s structure and dimension counsel a number of potential makes use of. It may very well be appropriate for a wide range of companies, together with retail shops, workplaces, or perhaps a mixture of each. Related properties within the space have housed profitable shops {and professional} service suppliers.
Constructing Measurement and Construction
Exact dimensions and an in depth structural overview are important for understanding the property’s suitability for numerous makes use of. Whereas a whole evaluation requires an on-site inspection, the constructing’s current footprint and variety of flooring present a basis for preliminary evaluation. Data on the constructing’s development supplies and situation can be necessary.
Zoning Rules
The property’s zoning designation dictates permissible makes use of. This info is essential in figuring out the suitability of the constructing for supposed functions. The particular laws for the world affect the permitted actions inside the construction. Checking with native zoning authorities for clarification on any variances is advisable.
Possession/Occupancy Historical past
A assessment of previous possession and occupancy historical past can reveal useful insights into the property’s stability and potential. Understanding any earlier points or notable occasions associated to the property can present a clearer image of its current standing.
Historic Property Gross sales Information
A desk of historic gross sales knowledge will present a useful context for evaluating the property’s market worth. This knowledge, when out there, can reveal the property’s efficiency inside the market and its appreciation or depreciation over time.
| Date | Purchaser | Vendor | Sale Worth |
|---|---|---|---|
| 2022-10-26 | Acme Company | Beta Enterprises | $1,500,000 |
| 2021-05-15 | Gamma Investments | Delta Holdings | $1,200,000 |
Observe: This desk is a pattern and will not replicate precise knowledge. Correct historic gross sales knowledge must be obtained from dependable sources.
Enterprise and Industrial Elements
Park Ridge’s Northwest Freeway hall provides a dynamic and evolving enterprise panorama. The world’s proximity to main transportation arteries, coupled with a robust residential base, creates a compelling setting for numerous business ventures. Understanding the present enterprise local weather and aggressive dynamics is essential for potential companies trying to set up themselves within the space.The native enterprise local weather is characterised by a mix of established companies and newer ventures.
This combine usually fosters wholesome competitors and innovation, driving financial development and offering various alternatives for shoppers. Figuring out the goal marketplace for potential companies is vital to success.
Close by Companies and Industrial Exercise
The Northwest Freeway hall in Park Ridge boasts a various vary of companies, catering to a big selection of wants and preferences. Native companies are primarily centered on serving the encompassing group’s wants, which incorporates a mixture of residential, business, and industrial sectors. This selection creates a wealthy business tapestry, drawing each native and regional prospects.
Goal Marketplace for Companies
The goal marketplace for companies on this space is essentially comprised of residents and staff within the surrounding space. Consideration must be given to the demographics of the group, the age vary, and the common revenue of the residents. Additional, the presence of close by companies in adjoining industries can point out potential cross-promotional or cooperative alternatives.
Abstract of the Native Enterprise Local weather
The native enterprise local weather is usually wholesome and supportive. The presence of varied native organizations and authorities businesses, centered on fostering financial growth and group development, contributes to a optimistic setting for companies to thrive. That is usually evident within the numerous assist packages out there for entrepreneurs and small enterprise homeowners.
Aggressive Panorama
The aggressive panorama is assorted, starting from established nationwide chains to native, unbiased companies. This creates a various and dynamic market, requiring cautious consideration of pricing, product differentiation, and advertising and marketing methods to face out from the competitors. Direct competitors usually exists inside particular industries, whereas oblique competitors might stem from various options and choices.
Comparability to Related Places
Park Ridge’s Northwest Freeway hall, by way of business exercise, might be in contrast favorably to different related suburban areas. These areas sometimes see a mix of retail, eating places, {and professional} companies. The important thing distinction usually lies within the particular combine of companies and the distinctive character of the local people. Success in Park Ridge requires understanding and responding to this native dynamic.
Kinds of Companies inside a 1-Mile Radius
| Enterprise Sort | Description | Variety of Companies (Estimate) |
|---|---|---|
| Retail | Clothes shops, grocery shops, and different common merchandise retailers. | 10-15 |
| Eating places and Meals Companies | Quick-food eating places, sit-down eating places, cafes, and different food-related institutions. | 5-8 |
| Skilled Companies | Legislation corporations, medical workplaces, accounting corporations, and different skilled service suppliers. | 3-5 |
| Monetary Establishments | Banks, credit score unions, and different monetary service suppliers. | 2-3 |
| Different | Auto restore outlets, house enchancment shops, and different various companies. | 4-6 |
The desk above supplies a snapshot of the enterprise sorts discovered inside a one-mile radius. The numbers are estimates, and the precise rely might differ relying on the particular standards used for the definition of a enterprise. This overview supplies a helpful start line for understanding the enterprise variety inside the space.
Neighborhood and Social Elements: 350 S Northwest Freeway Park Ridge Il
Park Ridge’s Northwest Freeway space boasts a vibrant and welcoming group spirit, fostered by a mix of established households and newcomers. This space is thought for its sturdy sense of neighborliness and lively participation in native occasions. The shut proximity to varsities, parks, and different facilities contributes considerably to the world’s enchantment.
Neighborhood Social Surroundings, 350 s northwest freeway park ridge il
The Northwest Freeway neighborhood is characterised by a pleasant and welcoming ambiance. Residents usually work together with each other, fostering a way of group via shared experiences and actions. This pleasant ambiance encourages a way of belonging and fosters optimistic relationships amongst residents.
Native Neighborhood Teams and Organizations
A number of lively group teams and organizations contribute to the social material of the world. These teams vary from parent-teacher associations (PTAs) to neighborhood watch packages and volunteer teams. They play a significant position in organizing occasions, fostering collaboration, and making certain a protected and interesting setting for residents of all ages. These organizations create alternatives for group members to attach, share concepts, and contribute to the general well-being of the neighborhood.
Native Occasions and Actions
The Northwest Freeway space hosts a wide range of occasions and actions all year long. These occasions vary from neighborhood block events to group festivals and seasonal celebrations. These occasions provide alternatives for residents to socialize, rejoice milestones, and construct stronger connections inside the group. This number of occasions cater to a broad spectrum of pursuits and ages, making certain there’s one thing for everybody.
Neighborhood Engagement Stage
The extent of group engagement within the Northwest Freeway space is excessive. Residents actively take part in native occasions, volunteer for group tasks, and contribute to the general vibrancy of the neighborhood. This excessive stage of engagement creates a supportive and collaborative setting the place residents really feel related to their environment.
Proximity to Colleges, Parks, and Different Neighborhood Assets
The world’s strategic location supplies handy entry to important group sources. Colleges, parks, and different very important facilities are located inside an inexpensive distance, making day by day routines and group participation extra accessible. This handy entry to sources considerably contributes to the standard of life for residents.
Native Colleges and Proximity
| Faculty Title | Distance (Estimated) |
|---|---|
| Park Ridge Elementary Faculty | Inside 1 mile |
| Ridgewood Center Faculty | Inside 1.5 miles |
| Park Ridge Excessive Faculty | Inside 2 miles |
The desk above supplies an approximate distance to main native colleges. This proximity permits for handy entry to training for residents and households. The estimated distances are approximations and will differ relying on particular areas inside the neighborhood.
Transportation and Accessibility
Getting round Park Ridge, particularly close to 350 S Northwest Freeway, is remarkably handy. The world boasts a wide range of transportation choices, making certain easy accessibility for everybody. This part particulars the out there transportation strategies, accessibility options, and general mobility inside the neighborhood.
Transportation Choices Overview
The world surrounding 350 S Northwest Freeway is well-connected, providing a spread of transportation decisions. From private autos to public transit, residents and guests have a number of choices to navigate the area effectively. This comfort fosters a vibrant and accessible group.
Public Transportation
Public transportation choices in Park Ridge are dependable and frequent, notably within the space round 350 S Northwest Freeway. Bus routes present common service, connecting to different elements of town and past. Schedules are sometimes out there on-line or via the native transit authority.
Proximity to Main Roadways and Highways
The placement advantages from its strategic placement close to main roadways and highways. This facilitates fast and environment friendly journey to different elements of the metropolitan space, and past. Drivers have easy accessibility to interstate programs, lowering journey occasions considerably.
Parking Availability
Parking availability close to 350 S Northwest Freeway is adequate, with numerous choices for each short-term and long-term wants. Road parking and designated parking tons are sometimes out there, accommodating a spread of auto sizes and desires. Some companies might have particular parking preparations, however general, parking is available within the surrounding space.
Accessibility for People with Disabilities
The world is dedicated to accessibility, making certain that people with disabilities can navigate the world comfortably. Public transportation routes, pedestrian walkways, and designated parking areas are designed with accessibility in thoughts. This dedication to inclusivity fosters a welcoming setting for all.
Desk of Transportation Choices
| Transportation Choice | Proximity to 350 S Northwest Freeway |
|---|---|
| Private Automobile | Excessive accessibility by way of main roadways and highways. Parking is offered within the space. |
| Public Bus | A number of bus routes serve the instant space, offering common service. |
| Trip-sharing Companies | Simply accessible by way of well-liked apps. |
| Pedestrian/Bicycle Paths | Walkable distance to close by facilities. Designated bicycle paths can be found within the space. |
Actual Property Market Evaluation
Park Ridge, Illinois, boasts a robust and secure actual property market, persistently attracting consumers and traders. That is partly because of its glorious location, high-quality colleges, and powerful sense of group. Understanding the present market tendencies and up to date gross sales knowledge for properties like 350 S Northwest Freeway is essential for anybody contemplating a purchase order or funding on this space.
Overview of the Park Ridge Actual Property Market
The Park Ridge actual property market is characterised by a average tempo of gross sales and a constant value appreciation. Elements influencing this embrace the desirability of the world, comparatively low stock, and regular inhabitants development. Competitors for fascinating properties is commonly fierce, highlighting the necessity for cautious consideration and market consciousness.
Latest Tendencies in Property Values
Latest years have proven a gradual, regular enhance in property values throughout Park Ridge. This development is in keeping with nationwide actual property market patterns and displays the general well being and stability of the native economic system. This sustained development is a optimistic signal for future investments.
Comparability of 350 S Northwest Freeway to Related Properties
Properties akin to 350 S Northwest Freeway by way of dimension, location, and facilities sometimes command related value ranges. Variations usually stem from particular options of particular person properties, reminiscent of up to date kitchens or bogs, distinctive architectural designs, or lot dimension. Direct comparisons utilizing latest gross sales knowledge of comparable properties present useful context for evaluating the potential of 350 S Northwest Freeway.
Potential for Future Development in Property Worth
A number of elements counsel continued potential for development in property values in Park Ridge. The persistently sturdy faculty system, fascinating neighborhood ambiance, and secure native economic system contribute to this optimism. This isn’t assured, however historic knowledge factors to the final development of accelerating values within the space.
Latest Gross sales Information of Related Properties
To supply a extra concrete understanding of latest gross sales exercise, the next desk presents knowledge for comparable properties. This knowledge provides perception into latest pricing tendencies and the present market worth of properties like 350 S Northwest Freeway.
| Property Tackle | Sale Date | Sale Worth | Sq. Footage | Bedrooms | Loos |
|---|---|---|---|---|---|
| 345 N. Northwest Hwy | Oct 26, 2023 | $850,000 | 2,500 | 4 | 3 |
| 360 S. Northwest Hwy | Sept 15, 2023 | $825,000 | 2,400 | 3 | 2.5 |
| 340 N. Northwest Hwy | Aug 10, 2023 | $790,000 | 2,350 | 3 | 2 |
| 355 S. Northwest Hwy | July 28, 2023 | $810,000 | 2,600 | 4 | 3 |
Observe: This desk presents hypothetical knowledge for illustrative functions solely. Precise gross sales knowledge for comparable properties might be obtained from dependable actual property sources.
Potential Growth Alternatives
This prime Northwest Freeway property in Park Ridge, Illinois, presents a wealth of growth potentialities. Its strategic location and current infrastructure create a basis for thrilling new ventures. From revitalizing current buildings to creating fully new areas, the potential is really outstanding. A considerate method to growth, encompassing each business and residential wants, will likely be key to maximizing the property’s worth and enriching the group.
Figuring out Potential Growth Alternatives
The success of any growth hinges on a radical understanding of the native market and group wants. Evaluation of current companies and residential demographics will information choices on essentially the most acceptable growth sorts. Consideration of group enter can even be very important to making sure a harmonious and optimistic integration into the encompassing space. This may be achieved via public boards, surveys, and direct engagement with residents.
Potential Enhancements to the Property
Enhancements to the property’s aesthetic enchantment and performance will instantly impression its desirability and worth. Modernizing facades, upgrading landscaping, and enhancing accessibility options will contribute to a extra inviting and inclusive setting. The addition of inexperienced areas and leisure areas can enhance the enchantment for each residents and companies.
Increasing Enterprise or Industrial Exercise
The property’s current business house presents alternatives for enlargement. This might embrace attracting complementary companies, rising the range of companies provided, or introducing new retail ideas. Evaluation of neighboring companies and trade tendencies will information the collection of appropriate expansions. For instance, including a espresso store subsequent to knowledgeable workplace constructing might improve the general enchantment of the world.
New Growth Eventualities for the Property
The property may very well be redeveloped right into a mixed-use complicated, combining residential items with business areas. This method might create a vibrant hub, catering to each residents and enterprise homeowners. Consideration of adaptive reuse of current buildings can be very important, as it might scale back demolition prices and reduce environmental impression. A contemporary mixed-use constructing might home each workplaces and flats, making a live-work setting.
Environmentally Aware Growth
Sustainable growth practices are important. Methods for minimizing environmental impression must be prioritized. This consists of utilizing sustainable constructing supplies, implementing energy-efficient designs, and incorporating inexperienced infrastructure. For example, utilizing photo voltaic panels to generate renewable power will considerably scale back the carbon footprint.
Potential Growth Ideas and Prices
| Growth Idea | Estimated Value (USD) | Environmental Impression (Temporary Description) |
|---|---|---|
| Combined-Use Constructing (Residential & Industrial) | $10,000,000 – $20,000,000 | Potential for vital power financial savings via inexperienced constructing methods, decreased waste via materials choice, and potential rainwater harvesting. |
| Retail Growth and Renovation | $500,000 – $2,000,000 | Minimized environmental impression via centered renovations. Give attention to sustainable supplies the place potential. |
| Residential-only growth | $7,000,000 – $14,000,000 | Potential for group gardens and inexperienced roofs to attenuate impression on surrounding areas. |
“Cautious planning and a deal with group wants are essential to making sure profitable growth tasks.”
