Thank you
Michael Applegate
Straight-A Realty, LLC
630-288-2446
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!
Lot Dimensions: 100 X 127
Lot Acres: 0.28
Lot Size: Less Than .25 Acre
Property Type: Land
Sub Type: Land
Original List Price: $499000
Annual Tax: $2298.48
Tax Year: 2021
Parcel Number: 20232280170000
Electric Nearby, Gas Nearby, Water Nearby
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.
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 |
Disclaimer: The information being provided courtesy of Midwest Real Estate Data LLC (MRED) as distributed by MLS GRID and is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of theMidwest Real Estate Data LLC (MRED). ByOwner.com is not a Multiple Listing Service (MLS), nor does it offer MLS access. ByOwner.com is a broker participant of Midwest Real Estate Data LLC (MRED). This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.
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.
Properties displayed may be listed or sold by various participants in the MLS.
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.