Under Contract

518 S Western Avenue

Chicago, IL 60612
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Acres0.14

Acre(Lot)

518-522 S Western Avenue is a rare 3-parcel assemblage totaling 6,132 SF strategically positioned within one of Chicago's most dynamic and rapidly evolving corridors, benefiting directly from the transformational growth surrounding the United Center and the multi-billion-dollar 1901 Project. This large-scale redevelopment will introduce new residential density, retail, hospitality, entertainment venues, and activated public spaces, fundamentally reshaping the immediate area and driving sustained increases in foot traffic, consumer demand, and long-term property values along the Western Avenue corridor. The surrounding neighborhood continues to experience meaningful mixed-use and residential new developments, reinforcing its transition toward higher-density, transit-oriented growth. Ongoing land sales and redevelopment activity in the immediate vicinity further validate investor confidence and signal continued capital inflow into the submarket. The property's mixed-use positioning and zoning capacity, allowing for up to 15 residential units above a retail unit, creates a highly flexible opportunity to capitalize on this growth trajectory. The site is well-suited for a thoughtfully designed mixed use redevelopment that leverages strong residential demand driven by proximity to the Illinois Medical District, surrounding employment hubs, and expanding neighborhood amenities. Simultaneously, its prominent Western Avenue frontage, strong traffic counts, and existing outdoor space provide the ability to incorporate a highly visible retail or restaurant component that benefits from daily workforce demand and event-driven traffic from the United Center.

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Detail Ic Property Details

Property Type : Land

Price : $699,000

AD Id : 76789108

MLS Id : MRD12581957

Lot Size : 0.14 Acre(Lot)

County : Cook

  • Map Map

Map

Feature Features

  • Lot Information

    Lot Dimensions: 73X84 Lot Acres: 0.04 Lot Size: Less Than .25 Acre

    Property Information

    Property Type: Land Sub Type: Land

  • Listing Price Information

    Original List Price:$699000

  • Tax Information

    Annual Tax: $8557.6 Tax Year: 2024 Parcel Number: 16132340410000

  • School Information

    Elementary School: Jensen Elementary School Olastic Junior High School: Jensen Elementary School Olastic Senior High School: Manley Career Academy High Schoo
  • Utility Information

    Electric to Site, Natural Gas Available, None
  • Location Information

    City: Chicago Direction: South/north on Western between Congress and Harrison
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
2912 W Fulton Street, Chicago, IL, 60612 $189,000 -- -- -- 0.25 Acre(Lot)
2939 W Flournoy Street, Chicago, IL, 60612 $59,900 -- -- -- 0.07 Acre(Lot)
30 N Western Avenue, Chicago, IL, 60612 $3,499,000 -- -- -- 0.53 Acre(Lot)
1003 S Campbell Avenue, Chicago, IL, 60612 $99,000 -- -- -- 0.05 Acre(Lot)
1833 W Walnut Street, Chicago, IL, 60612 $194,000 -- -- -- Acres (Lot)--
3011 W Arthington Street, Chicago, IL, 60612 $100 -- -- -- 0.07 Acre(Lot)
1133 S Richmond Street, Chicago, IL, 60612 $49,000 -- -- -- 0.11 Acre(Lot)
2604 W Washington Boule.., Chicago, IL, 60612 $235,000 -- -- -- 0.06 Acre(Lot)
2243 W Grand Avenue, Chicago, IL, 60612 $459,000 -- -- -- 0.06 Acre(Lot)
1141 S Richmond Street, Chicago, IL, 60612 $30,000 -- -- -- 0.07 Acre(Lot)
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ByOwner last updated this listing 06/16/2026 @ 18:20

MLS: MRED #12581957 LISTED BY: Mitir Patel, Essex 312, LLC 773-305-4858 SOURCE: Midwest Real Estate Data LLC (MRED) (Listings courtesy of Midwest Real Estate Data LLC (MRED) as distributed by MLS GRID)

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