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UPDATED:
10/07/2024 05:47 PM
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12091017
Annual Tax Amount $793
Tax Year 2022
Lot Dimensions 26X161
Property Description
Seize a premier investment opportunity in the heart of Chicago's historic and dynamic Bronzeville neighborhood. This expansive 4,186 sq. ft. lot, enveloped by a surge of new construction, offers prime zoning for a commercial unit with the potential to develop either three or four residential units above. While the commercial space presents a sophisticated exit strategy, the potential returns are undeniably substantial. Within a mile radius, new construction 3-unit properties are commanding prices over $1M, with condos reaching up to $500k. Investors can capitalize on developing a 3-unit or 4-unit building, featuring ground-level commercial space and upscale residential units above, projecting an impressive after-repair value of approximately $1M. Bronzeville, celebrated for its rich cultural heritage and vibrant community, is undergoing significant revitalization, making this lot a prime target for discerning investors. This is a rare chance to secure a high-value asset in one of Chicago's most promising and rapidly growing neighborhoods. Don't miss out on transforming this prime parcel into a lucrative development.
Location
State IL
County Cook
Area Chi - Grand Boulevard
Zoning COMMR
Interior
Fireplace N
Exterior
Utilities Available Electric to Site, Gas to Site, Water-Municipal
Building
Dwelling Type Land
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Michael Applegate • Straight-A Realty, LLC
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