eXp Commercial is pleased to present to market 1120 E Ogden Avenue, a highly visible 10,860 square foot retail-office property on 1.26 acres in desirable affluent Naperville, Illinois, along the I-88 E-W corridor approximately 28 miles west of Chicago. The property is currently owner-occupied and will be fully vacated shortly after closing, with the seller seeking approximately 60 days of post-closing possession. Flexible B3 zoning allows for a number of retail and office uses, ideal for an investor, owner-user, or redevelopment of the property.
Ogden Avenue is a major arterial highway, running southwest from the near west side of Chicago to the far western suburb of Montgomery. Average daily traffic counts along this stretch of Ogden Ave are 27,000 cars per day and are just minutes from the I-88 E-W Tollway. There has been considerable new development and redevelopment along Ogden Avenue in Naperville. This is due in part to the city's Ogden Avenue Corridor Enhancement Initiative, which is a comprehensive plan to improve the corridor's transportation, land use, and appearance. Notable new development along this corridor includes a new 161,000-square-foot Costco. The City of Naperville is offering grants to property owners and business owners along Ogden Avenue to help pay for signage, landscaping, building facades, and access improvements. The goal of the grant program is to improve the overall appearance and appeal of the Ogden Avenue corridor.
Naperville is one of the wealthiest suburbs in the Chicago area, with a median household income of $135,772, well above the national average of $67,521. The city's high income levels are due in part to its strong economy, which is home to a number of Fortune 500 companies, including Edward-Elmhurst Health, Navistar, Tellabs, Grainger, Dover, and Exelon. Additionally, Naperville has a highly educated workforce, with over 60% of residents holding a bachelor's degree or higher, and is home to one of the top liberal arts colleges in the Midwest, North Central College.
Naperville has a vibrant downtown area with shops, restaurants, and bars and has two Metra train stations, providing a convenient and affordable way to commute to and from Chicago. Naperville has a variety of public and private schools that are ranked among the best in the state. Naperville has a very low crime rate, making it a safe place to live and raise a family. It is consistently ranked as one of the top places to live in the United States.
