Active

3278 N Milwaukee Avenue

Chicago, IL 60618

$18,000,000 $75,888/Mo

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Overview

3.28

Acres(Lot)

Description

Incredible development opportunity. Belmont Triangle site in Avondale. Approx. 3.28 acres parcel at Belmont Ave, Milwaukee Avenue and Pulaski Road. | Strauss Realty, Ltd. is proud to offer a rare opportunity to redevelop a substantial, 3.28 acre contiguous site in the heart of Avondale-bordered by Pulaski Road (20K VPD), Belmont Avenue (16K VPD), and Milwaukee Avenue (17K VPD). This prominent parcel is ideally suited for a higher-density, mixed-use development that could include residential units, a grocery store, restaurants, bars, entertainment venues, or even a lifestyle center with community-focused retail. Formerly home to industrial buildings, small businesses, and auto-related uses, the site is now largely vacant -creating a noticeable gap in Avondale's commercial landscape. Recogn izing its potential, the previous alderman supported zoning changes to allow for four- to five-story buildings, signaling readiness for revitalization. There is strong community support for redevelopment, with the shared goal of transforming the "Belmont Triangle" into a vibrant, mixed-use destination that reflects the neighborhood's character and needs. A 2022 survey revealed that most respondents access the site by walking or driving, and expressed strong interest in open spaces along with dining and retail options. In 2022, the Department of Planning and Redevelopment designed three schemes (see brochure). As nearby neighborhoods like Logan Square and Bucktown continue to rise in cost, Avondale is becoming an increasingly attractive alternative for residents and investors alike. Demand for both residential and commercial uses remains strong, positioning this site for significant returns. The site offers outstanding accessibility and exposure, with easy access to transportation including I-90/94, the Belmont Blue Line station, and the Irving Park Metra station. The surrounding neighborhood features a mix of community assets such as schools, churches, and a range of active retail establishments, reinforcing the site's potential for impactful mixed-use development. Nearby tenants include Las Islas Marias, Walgreen's, CVS, HR Block, BP Gas, AT&T Store, McDonald's, PNC Bank, shops, laundry and dining. Development incentives include eTOD, NOF, TIF, LIHTC, federal subsidies grants and loans, Cook County Tax Incentives for Class 7A, 7B and L properties. The population within 1 mile is 44,014 with 17,021 households and average household income of $97,116.

Property Details

Property Type : Land

Price : $18,000,000

AD Id : 64845614

MLS Id : MRD12369091

Lot Size : 3.28 Acres(Lot)

County : Cook

Map

Features

Lot Information

Lot Dimensions: 142789 Lot Acres: 3.28 Lot Size: 3.0-3.99 Acres

Property Information

Property Type: Land Sub Type: Land

Listing Price Information

Original List Price:$18000000

Tax Information

Annual Tax: $999 Tax Year: 2023 Parcel Number: 13233250490000

Utility Information

Electric to Site, Natural Gas Available, Water Available
Location Information

City: Chicago Direction: Triangular Landsite with frontage along Pulaski Rd, Belmont Avenue and Milwaukee Avenue

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
2844 W Addison Street #P1, Chicago, IL, 60618	$25,000	--	--	--	0.00 Acre(Lot)
Undisclosed Address, Chicago, IL, 60618	$2,199,000	--	--	--	Acres (Lot)--
3008 N Davlin Court, Chicago, IL, 60618	$500,000	--	--	--	Acres (Lot)--
3819 N Kimball Avenue, Chicago, IL, 60618	$300,000	--	--	--	0.07 Acre(Lot)
3659 W Irving Park Road, Chicago, IL, 60618	$625,000	--	--	--	0.14 Acre(Lot)

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ByOwner last updated this listing 06/18/2026 @ 18:20

MLS: MRED #12369091 LISTED BY: Adam Schneiderman, Strauss Realty Ltd 773-736-3600 SOURCE: Midwest Real Estate Data LLC (MRED) (Listings courtesy of Midwest Real Estate Data LLC (MRED) as distributed by MLS GRID)