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Thread: Vacant lot retail investment development

  1. #1
    Member
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    Chicago
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    Vacant lot retail investment development



    I am new to real estate. My background is Finance from DePaul University.

    My family owns a vacant lot the chicago land chicago area. The lot size is 100' x 125' (12,500 square feet).

    We would like to know information on developing retail properties and lease it to companies like walgreens, cvs, or chase bank etc.

    Below are few of my questions:
    1. What is the best way to start my research on this subject?

    2. Are their consultants or companies that specialize in this? If so what are some firms that do this?

    3. I understand these retail properties have very specific specs for the construction. Who is responsible for the financing of the construction of these retail comapnies?

  2. #2
    Cyburbian Cardinal's avatar
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    Aug 2001
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    This is my forte. Let me start off, unfortunately, by telling you that the lot is unsuitable for the uses you mention. They will require a corner and will also require more land - a minimum of 4=5 times what you have. The typical Walgreens or CVS, for instance is bigger than your entire lot. In a case like this we would typically start by doing a market analysis to determine what kinds of uses can be supported in the area. Next we would consider the attributed of the site to determine which of the potential uses might be a fit. Midblock in a neighborhood area like this appears to be, you are probably talking about independent or maybe some franchise operations (Think along the lines of a Subway and not a McDonalds).
    Anyone want to adopt a dog?

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