315 Oldfield Road, Downers Grove, IL 60516
Local realty services provided by:Better Homes and Gardens Real Estate Connections
315 Oldfield Road,Downers Grove, IL 60516
$425,000
- 0.48 Acres
- Lots / Land
- Active
Listed by: elaine pagels, dan wood
Office: berkshire hathaway homeservices chicago
MLS#:12574901
Source:MLSNI
Price summary
- Price:$425,000
About this home
.48 acre! Prime residential redevelopment opportunity in Downers Grove, Illinois, approximately 3.5 acres total, consisting of three contiguous/closely aligned parcels with significant frontage of 392' along Oldfield Rd and 499' along Frontage Rd. This assemblage offers meaningful scale for a builder or developer seeking a higher-utility infill site with flexible configuration and the potential to create a density-supported plan (subject to zoning, approvals, and any required variances), currently zoned R-3 which further supports the site's long-term development viability. The combined footprint and layout provide a strong framework for single-family homes, residential group homes, other residential-style redevelopment depending on municipal review and site engineering. The site's general shape allows for efficient planning, including potential internal access/drive design, parking solutions, and building orientation, key advantages when pursuing a higher-and-best-use redevelopment concept. Utilities to the properties are city sewer, electric and gas, with city water connection at the street, buyers should conduct due diligence regarding any required extensions or upgrades. Exceptional location with quick access to major expressways, highly rated schools, premier shopping and dining, airports, and close proximity to luxury home communities. Ownership's preference is to market and sell as a single assemblage to maximize the site's development potential and value. A strong fit for builders and developers looking for a larger site with substantial street presence, in a community aligned with new residential development. Exceptional location with quick access to major expressways, highly rated schools, premier shopping and dining, airports, and close proximity to luxury home communities. The adjoining addresses are 315 Oldfield, 325 Oldfield and 400 Frontage Road for a total asking price of $1,925,000....
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Home facts
- Listing ID #:12574901
- Added:20 day(s) ago
- Updated:March 27, 2026 at 10:54 AM
Rooms and interior
- Total bathrooms:2
- Full bathrooms:2
- Rooms Total:5
- Basement:Yes
- Basement Description:Full, Unfinished
Heating and cooling
- Cooling:Central Air
- Heating:Natural Gas
- Central air:Yes
Structure and exterior
- Lot area:0.48 Acres
- Architectural Style:Traditional
- Levels:1.5 Story
Schools
- High school:Hinsdale South High School
- Middle school:Cass Junior High School
- Elementary school:Concord Elementary School
Finances and disclosures
- Price:$425,000
- Tax amount:$2,841 (2024)
Parking
- Total parking spaces:8
- Parking description:Detached Garage, Garage, Gravel
Copyright 2026 Midwest Real Estate Data LLC. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Midwest Real Estate Data LLC. Listing information is deemed reliable but not guaranteed.New listings near 315 Oldfield Road
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