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$1,000,000
Est. payment /mo
0.41 Acres Lot
UPDATED:
10/07/2024 05:49 PM
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12091037
Annual Tax Amount $12,992
Tax Year 2022
Lot Size 0.410 Acres
Lot Dimensions 134X133
Property Description
Unlock an unparalleled investment opportunity in the heart of Chicago's vibrant Douglas neighborhood, a gem nestled within the esteemed South Loop district. This expansive 18,000 square foot lot boasts an impressive 134ft of frontage on State Street and coveted C1-3 zoning, setting the stage for visionary development endeavors. Strategically situated across from a picturesque park adorned with baseball diamonds and offering sweeping views of the White Sox stadium, this prime parcel presents a blank canvas for astute investors seeking substantial returns. With the potential to erect up to four commercial mixed-use buildings, the prospects for valuation growth are simply extraordinary, projecting a potential increase in value to approximately $4.8 million post-development, mirroring the success of the highest sold multi-unit comparable at 3655 S. Indiana. The allure of this location is further accentuated by its strategic proximity to Interstate 90/94, the imminent arrival of Pete's Fresh Market, and the burgeoning wave of new construction residential units slated for the immediate vicinity. This prime land represents a rare convergence of strategic positioning, untapped potential, and robust investment prospects, making it an unmissable gem in Chicago's dynamic real estate landscape.
Location
State IL
County Cook
Zoning COMMR
Interior
Fireplace N
Exterior
Utilities Available Electric to Site, Gas to Site, Sanitary Sewer, Water to Site
View Y/N true
Schools
School District 299, 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Michael Applegate • Straight-A Realty, LLC
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