• 1510 E 67th Street Chicago, IL 60637

  • $499,000
  • 0
    Sq Ft
  • 0.28
    Acre
  • Listed By: Straight-A Realty, LLC
  • Source: Midwest Real Estate Data LLC (MRED)

Multi-million-dollar investment opportunity for a savvy and capable developer looking to break ground in Chicagoland's smoking hot Woodlawn neighborhood! Located less than a mile away from the Obama Presidential Center, this sizable lot is prime for development! Totaling .29 acres or 12,687 square feet! Zoned B3-3 allowing for both residential and commercial development (Residential apartments are permitted above the ground floor)! This lot has enough square footage to build 8-12 residential rental or condo units on top of the first level commercial space. Residential rental units are valued at approximately $90,000 per unit and condos with at least 2-bathrooms are selling for $250,000+ within a half mile radius of the subject property! With the right development strategy and the continuing upward trends in this neighborhood, there is a $4M - $5M valuation to be achieved! As a result of this lot being zoned B3-3, a retail building should be developed and residential apartments or condo units should be built on top of the commercial structure to achieve maximum upside). A laundromat/cleaners combo would be an excellent proposed use of the commercial space as mid-sized laundromats have the potential to net $10,000 - $25,000 in monthly profit! Proximity to the University of Chicago, public transportation, and the LakeFront! ***Fun facts, Chicago broke ground on the Obama Presidential Center on 9.28.21 and a similar larger lot just a few blocks away located at 1318 E 67th St, Chicago, IL 60637 sold 9.19.22 for $975,000, (MLS#11292420)*** Please act swiftly as this opportunity will not last long!

Property Type :

Land

County :

Cook

Style :

Land

Property Details

 

Lot Information

Lot Dimensions: 100 X 127

Lot Acres: 0.28

Lot Size: Less Than .25 Acre

Property Information

Property Type: Land

Sub Type: Land

Listing Price Information

Original List Price: $499000

Tax Information

Annual Tax: $2298.48

Tax Year: 2021

Parcel Number: 20232280170000

Utility Information

Electric Nearby, Gas Nearby, Water Nearby

Location Information

City: Chicago

Direction: Stony Island Ave N/S to 67th St go West to property. Located on the North side of the street after the Chase Bank parking lot.

Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
6558 S Champlain Avenue, Chicago, IL,60637 $28,500 -- -- -- --
507 E 63rd Street, Chicago, IL,60637 $550,000 -- -- -- 0.49 Acre
6639-6643 S Vernon Avenue, Chicago, IL,60637 $9,000 -- -- -- 0.07 Acre
6601 S Minerva Avenue, Chicago, IL,60637 $320,000 -- -- -- 0.17 Acre
5827 S Prairie Avenue, Chicago, IL,60637 $47,500 -- -- -- 0.09 Acre
5739 S Calumet Avenue #3S, Chicago, IL,60637 $270,000 4 2 1,600 --
6121 S King Drive, Chicago, IL,60637 $110,000 -- -- -- --
6152 S Saint Lawrence A.., Chicago, IL,60637 $89,000 -- -- -- --
6856 S South Chicago Av.., Chicago, IL,60637 $152,000 -- -- -- 0.34 Acre
6876 S South Chicago Av.., Chicago, IL,60637 $332,500 -- -- -- 0.7 Acre

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Based on information submitted to the MLS GRID as of 05/07/2024 @ 18:20. All data is obtained from various sources and may not have been verified by the broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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ByOwner last updated this listing 05/07/2024 @ 18:20

MLS: MRED #11609888
LISTED BY: Michael Applegate, Straight-A Realty, LLC
SOURCE: Midwest Real Estate Data LLC (MRED)
Buyer Agency Compensation: 2.5% - $250
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.

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