Thank you
Michael Applegate
Straight-A Realty, LLC
630-288-2446
Residential developers don't miss out on this excellent opportunity to purchase an .37-acre lot in Chicagoland's Washington Park neighborhood. Zoned RM-5, this sizable lot is prime for development. 16,000+ square feet - There is REAL multifamily development upside! 5432 S Michigan Ave and 5434 S Michigan Ave recently sold for $1,055,000 each, within the past 3 months!! These two, new construction, buildings have only 3-units and within walking distance of the subject property! This available parcel also has the square footage to build four 3/4-unit residential buildings! Build your own collection of four luxury 3-units and achieve a $4M+ valuation upside, achieve potentially higher values with 4-unit building! Condo conversion is also an excellent strategy, 3-bedroom condos in Washington Park sell for $250,000+. This plot sits in an excellent territory on Chicago's famous Michigan Ave, proximity to George Washington Park, Provident Hospital, and interstate access!
Heating: None
Cooling: None
Lot Dimensions: 100X161
Lot Acres: 0.37
Lot Size: .25-.49 Acre
Property Type: Land
Sub Type: Land
Original List Price: $399000
Annual Tax: $1005.46
Tax Year: 2022
Parcel Number: 20103020090000
Tax Exemption: None
Electric Nearby, Gas Nearby, Sanitary Sewer, Water Nearby
City: Chicago
Direction: Drive East on 51st Street to Michigan Ave, then drive South to the land site.
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
4837 S Forrestville Ave.., Chicago, IL,60615 | $164,900 | -- | 2 | -- | -- |
4840 S Dorchester Avenu.., Chicago, IL,60615 | $874,999 | 3 | 3 | -- | -- |
4840 S Calumet Avenue, Chicago, IL,60615 | $479,900 | 3 | 3 | 1,500 | 0.0648 Acre |
1112 E 52nd Street #1, Chicago, IL,60615 | $215,000 | 2 | 1 | 1,200 | -- |
4950 S Chicago Beach Dr.., Chicago, IL,60615 | $425,000 | 3 | 3 | 2,600 | -- |
5014 S King Drive #3W, Chicago, IL,60615 | $195,000 | 2 | 2 | 1,100 | -- |
1755 E 55th Street #601, Chicago, IL,60615 | $180,000 | 2 | 2 | 1,800 | -- |
1718 E 55th Street #3, Chicago, IL,60615 | $150,000 | 3 | 2 | -- | -- |
4912 S Drexel Boulevard.., Chicago, IL,60615 | $169,500 | 3 | 2 | 1,800 | -- |
1755 E 55th Street #1203, Chicago, IL,60615 | $285,000 | 3 | 3 | 2,200 | -- |
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Based on information submitted to the MLS GRID as of 05/17/2024 @ 06:20. 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 05/17/2024 @ 06:20
MLS: MRED #11947999
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.