20920 Governors Highway
Olympia Fields, IL, 60461 $ 250,000
Baths0.0 Monthly Estimate*
$ 1,560
Studio for $250,000.
Presenting an unparalleled development opportunity at 20920 Governors Highway, Olympia Fields, IL. This 1.05-acre commercial parcel is zoned B-3 General Retail and Limited Service District, making it an ideal location for a range of commercial developments, including retail centers, financial institutions, medical offices, quick-service restaurants, and mixed-use projects. Positioned in a high-traffic corridor with 18,667 vehicles passing daily, this site offers exceptional visibility and accessibility for businesses looking to establish a strong presence in a rapidly growing market. Strategically located between Walgreens and Gordon Food Services, the property benefits from cross-access easements, ensuring seamless entry and exit for customers and deliveries. The flat, cleared lot is fully improved with water, sewer, electricity, and gas, providing a shovel-ready site for immediate development. Its prime frontage along Governors Highway enhances exposure, while its easy ingress and egress make it highly convenient for both customers and employees. Developers and investors will appreciate the strong local demographics, with 7,697 residents within a one-mile radius and a median household income of 73,302, ensuring consistent consumer demand. Additionally, a daytime workforce of over 5,000 employees creates further opportunities for businesses catering to professionals and local workers. With its B-3 zoning, this property is ideal for national retailers, medical facilities, professional office buildings, restaurants, and service-oriented businesses. Olympia Fields continues to experience strong commercial growth, making this an exceptional opportunity for developers seeking a high-exposure, investment-ready site in a well-established community. This is a rare chance to secure a premier development site in one of Cook County's most sought-after commercial corridors. Whether you're an investor, developer, or business owner, this property provides the perfect foundation for a successful commercial venture. Act now to secure this prime location.
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FeaturesGeneralUtilities Electricity Nearby
Possession Closing
Zoning COMMR
Township Rich
Tax Year 2023
Current Use Commercial Retail
Ownership Fee Simple
County Cook
Property Type Land Land
Status Active
Directions From I57 exit onto Governors Hwy. Proceed east on Governors Hwy for approximately 0.5 miles. The vacant lot is located on the 20920 block.
High School Fine Arts And Communications Cam
City Olympia Fields
High School District 227
MLS Area Olympia Fields
Standard Status Active
Middle/Junior School District 162
Elementary School District 162
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ExteriorTotal Parking 0
Lot Dimensions 250 X 242
Road Surface Type Asphalt
Frontage Length 250
Frontage Type City Street
Waterfront Y/N N
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* Excluded FeaturesList ByMohall Commerical & Urban DevelopmentBroker
moses@mohallcommercialud.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $1,560
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyLots and land listings in Olympia Fields, IL
Average List Price $164,750
Percent of Sale Price 34%
About Olympia Fields, IL 4,999 Population
2% Since 2002
$ 89,886 Median Income
48.72 Median Age
17% Households with Children
Trends Information provided by ATTOM Data Solutions.
564880 Elementary School
565866 Middle School
Fine Arts And Communications Cam High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 2/24/2025 | $250,000 | | Listed Price |