Overview

Description

KW Commercial and Keller Williams ONEChicago presents 2475 US Highway 36 located in Newman, Illinois, the subject property is an industrial building made of concrete tilt-up construction. It was initially constructed in 1988 with a specific purpose to accommodate a hydrological and meteorological (or "hydromet") company, entailing a substantial investment of $22 million. Spanning an area of 65,057 square feet, the building comprises 8,000 square feet designated for office space and an expansive 57,057 square feet allocated for warehousing. Notable features of the property include 18" poured reinforced concrete floors, generous 30-foot ceiling heights, three 15-foot drive-in doors, two 15-foot truck dock doors, a certified truck scale, and ample parking with 108 spots. Additionally, the premises are securely enclosed by fully barbed-wire fencing and accessible through two entry gates. Infrastructure-wise, the building benefits from a 4" natural gas main operating at 20 PSI with a 6" service, an 8" water main at 55 PSI, a substantial 100,000-gallon water tank, and a recirculating septic tank. It is worth noting that the property has undergone a clean phase I assessment, eliminating the need for any action from the Illinois Environmental Protection Agency. However, it is presently in a shell condition, having undergone complete gutting, and lacks electrical, HVAC, and plumbing systems.

 

The current owner of the property has successfully obtained zoning for hemp and marijuana cultivation through the Mayor of Newman and the City Council. The building, originally designed for the hydromet company, offers considerable potential for the cultivation of these plants. With its strategic location in Newman, Illinois, the property presents an opportunity to leverage the existing infrastructure and amenities for efficient and successful cultivation operations. It holds promise for entrepreneurs seeking to establish a hemp or marijuana cultivation facility in compliance with the approved zoning. Although the building is currently devoid of electrical, HVAC, and plumbing installations, these essential elements can be easily integrated, providing a solid foundation for prospective operators to develop a thriving cultivation enterprise.




Opportunity Zone

Located in Newman, Illinois, the property holds the distinction of being certified as an Economic and Opportunity Zone. This certification recognizes the building's eligibility for various tax incentives and benefits aimed at promoting economic growth and development in designated areas. As an Economic and Opportunity Zone, the property presents an enticing prospect for investors and businesses looking to capitalize on the advantages offered by this designation.

 

CERTIFIED FOR CRAFT GROW LICENSES

The subject property in Newman, Illinois has received official approval from the Mayor of Newman and the City Council for the use of craft grow licenses. This approval grants the property the necessary authorization to engage in the cultivation, manufacturing, processing, and distribution of marijuana.

 

SALES TAX EXEMPTION

The subject property in Newman, Illinois offers a substantial financial benefit due to a sales tax exemption on the purchase of construction materials for the building. This exemption translates into potential savings amounting to millions of dollars. By qualifying for this exemption, the property becomes an attractive option for developers and investors looking to undertake construction projects and minimize their expenses.

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