CALLING REAL ESTATE INVESTORS: $1.25 MILLION FOR VACANT CHALKBOARD PROPERTY

With The Chalkboard out of business since November 2019, owners looking for potential buyers to purchase vacant property

The Chalkboard, a school supply store catering to both teachers and students, was established in the summer of 1980 by Ken and Norma Ireland. In November 2019, the couple announced via their company’s Facebook page that their store was going out of business. According to a statement released by the pair, the reason the business closed down was because they could not compete with Amazon and other online retailers. Furthermore, because the business was closed prior to the Coronavirus pandemic shutdown, the owners were not eligible for any pandemic relief funding.

Lauren Simon, a first-grade teacher at St. Mary’s Mokena, was one of the store’s most frequent shoppers and is struggling to find a new store to patronize.

“It’s sad to see The Chalkboard close, I used to do all my shopping [for my classroom] there,” Lauren Simon states, “I started going there in 2004 when I first became a teacher, and they [Ken and Norma] were so helpful and accommodating every time I was in there. Now I don’t know where to go.”

The physical storefront and property is still owned by the couple, however, and they are looking for a buyer to purchase the vacant property. Located at 2110 Plainfield Road in Crest Hill, Illinois, the 28,000 square foot property contains two floors and has “flexible B3 Zoning.” According to Patch.com, the asking price is roughly $1.25 million. Caton Commercial, a real estate company based in Joliet, is handling the sale of the property.

Local real estate investor Braden Kaup has been researching the property since the announcement last November and believes that it would make for a great location for the right business,

“At $1.25 million, the price is a little high, especially with the pandemic still threatening businesses. However, the property is in excellent shape for being over 40 years old and it is located on Route 30, so thousands of cars will be driving by it every day. I would buy it if it was under $1 million...and if I had a million.”