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Listed by Michael Applegateof Straight-A Realty, LLC
$ 599,000
Est. payment | /mo
0.48 Acres Lot
$ 599,000
Est. payment | /mo
0.48 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12306405
Annual Tax Amount $5,272
Tax Year 2023
Lot Size 0.480 Acres
Lot Dimensions 130X161
Property Sub-Type Land
Property Description
Seize a rare opportunity to develop on Chicago's historic State Street with five contiguous lots, totaling an expansive 20,930 sq. ft. in the heart of Bronzeville. Boasting C1-2 zoning and 130 feet of prime frontage, this site is surrounded by hundreds of new residential developments, with even more on the way, making it a high-demand investment. State Street has long been a cornerstone of Chicago's commercial and cultural landscape, and this property offers a versatile canvas for a high-impact mixed-use development. With easy access to I-90/94, investors have the flexibility to build four mixed-use buildings or two 8-unit residential structures, with a projected valuation between $3.35M and $4.6M. The C1-2 zoning allows for a wide range of businesses, including retail, liquor stores, warehouses, and auto shops, while also permitting residential units above commercial spaces-a perfect fit for the neighborhood's evolving needs. Five adjacent lots of this size, in such a prime location, are a rarity-don't miss your chance to be part of Bronzeville's booming revitalization and State Street's ongoing legacy while maximizing your investment potential.
Location
State IL
County Cook
Zoning COMMR
Interior
Fireplace N
Exterior
Utilities Available Electricity Available, Natural Gas Available, Sewer Connected, Water Available
View Y/N true
Schools
School District 299, 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
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2600 S. Michigan Ave., STE 102, Chicago, IL, 60616, United States