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$1,000,000
Est. payment /mo
0.41 Acres Lot
UPDATED:
10/07/2024 05:49 PM
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12091037
Annual Tax Amount $12,992
Tax Year 2022
Lot Size 0.410 Acres
Lot Dimensions 134X133
Property Description
Unlock an unparalleled investment opportunity in the heart of Chicago's vibrant Douglas neighborhood, a gem nestled within the esteemed South Loop district. This expansive 18,000 square foot lot boasts an impressive 134ft of frontage on State Street and coveted C1-3 zoning, setting the stage for visionary development endeavors. Strategically situated across from a picturesque park adorned with baseball diamonds and offering sweeping views of the White Sox stadium, this prime parcel presents a blank canvas for astute investors seeking substantial returns. With the potential to erect up to four commercial mixed-use buildings, the prospects for valuation growth are simply extraordinary, projecting a potential increase in value to approximately $4.8 million post-development, mirroring the success of the highest sold multi-unit comparable at 3655 S. Indiana. The allure of this location is further accentuated by its strategic proximity to Interstate 90/94, the imminent arrival of Pete's Fresh Market, and the burgeoning wave of new construction residential units slated for the immediate vicinity. This prime land represents a rare convergence of strategic positioning, untapped potential, and robust investment prospects, making it an unmissable gem in Chicago's dynamic real estate landscape.
Location
State IL
County Cook
Area Chi - Douglas
Zoning COMMR
Interior
Fireplace N
Exterior
Utilities Available Electric to Site, Gas to Site, Sanitary Sewer, Water to Site
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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