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1318 E 67th Street

Chicago, IL 60637
  • $1,099,000
  • STATUS: Active
  • ON SITE: 151 Days
  • MLS #: 11292420
UPDATED: 67 min ago
$1,099,000
  • 0
    BEDS
  • 0.52
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

School District:
299

Description

Multi-million-dollar investment opportunity for a savvy and capable developer looking to break ground in Chicagoland's smoking hot Woodlawn neighborhood! Located just 1-mile away from the Obama Presidential Center, this half acre lot is prime for development! Two pins totaling .5529 acres or 22,400 square feet! Zoned RM-5 and B3-3 allowing for both residential and commercial development (Residential apartments are permitted above the ground floor for the lot zoned B3-3)! These lots have enough square footage to build 14+ condo units, a similar development within a 1-mile radius was completed in 2021 - units are selling for $514,000+! New construction townhomes are selling for $638,000+ within walking distance of the subject location. New construction 3-units are selling for $820,000+ within a 1-mile radius! A renovated 6-unit within a 1-mile radius just sold for $1,655,000 - there is upside available to build 3 on these available lots! With the right development strategy and the continuing upward trends in this neighborhood, there is a $6M-$8M valuation to be achieved. Proximity to the University of Chicago, public transportation, and the Lake Front! Please act swiftly as this opportunity will not last long! There is a vacant commercial retail style building located on the 1318 E. 67th lot - zoned B3-3 (this retail building should be renovated and residential apartments should be built on top of the commercial structure to achieve maximum upside). The additional plot of land address is 6646 S. Kenwood Ave, Chicago, IL 60637 (Zoned RM-5). ***Fun facts, Chicago broke ground on the Obama Presidential Center on 9.28.21 and this property is located in a Tax Increment Financing (TIF) District!***

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© 2022 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Keller Williams Success Realty. Based on information submitted to the MRED as of 2022-05-21T16:00:26.283 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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1318 E 67th Street Chicago, IL 60637

  • Price: $1,099,000
  • Status: Active
  • On Site: 151 Days
  • Updated: 67 min ago
  • MLS #: 11292420
0
Beds
0
Baths
0
½ Baths
0.52
Acres
Neighborhood:
Chi - Woodlawn
County:
Cook
Area:
Chi - Woodlawn
School District:
299
Property Description
Multi-million-dollar investment opportunity for a savvy and capable developer looking to break ground in Chicagoland's smoking hot Woodlawn neighborhood! Located just 1-mile away from the Obama Presidential Center, this half acre lot is prime for development! Two pins totaling .5529 acres or 22,400 square feet! Zoned RM-5 and B3-3 allowing for both residential and commercial development (Residential apartments are permitted above the ground floor for the lot zoned B3-3)! These lots have enough square footage to build 14+ condo units, a similar development within a 1-mile radius was completed in 2021 - units are selling for $514,000+! New construction townhomes are selling for $638,000+ within walking distance of the subject location. New construction 3-units are selling for $820,000+ within a 1-mile radius! A renovated 6-unit within a 1-mile radius just sold for $1,655,000 - there is upside available to build 3 on these available lots! With the right development strategy and the continuing upward trends in this neighborhood, there is a $6M-$8M valuation to be achieved. Proximity to the University of Chicago, public transportation, and the Lake Front! Please act swiftly as this opportunity will not last long! There is a vacant commercial retail style building located on the 1318 E. 67th lot - zoned B3-3 (this retail building should be renovated and residential apartments should be built on top of the commercial structure to achieve maximum upside). The additional plot of land address is 6646 S. Kenwood Ave, Chicago, IL 60637 (Zoned RM-5). ***Fun facts, Chicago broke ground on the Obama Presidential Center on 9.28.21 and this property is located in a Tax Increment Financing (TIF) District!***
Exterior Features

Frontage Type City Street Land Cleared Land Amenities FencingSidewalks Lot Size .50-.99 Acre Road Surface Type Asphalt Waterfront YN No

Interior Features

Basement None Basement Bathrooms YN No Cooling None Heating None

Property Features

Additional Parcels YN Yes Building On Land Yes Corporate Limits Chicago Current Use Commercial Farm No General Information None Mls Actual Status Active Other Public School District 299 Ownership Fee Simple Ownership Types Individual Possible Use CommercialCondominiumMulti-FamilySingle Family Rental Price 0 Special Listing Conditions None Tax Annual Amount 16120.94 Tax Year 2020 Township Hyde Park Type Land Utilities Electric To SiteGas To SiteSanitary SewerWater-MunicipalWater To SiteNone Zoning Multi

Listing information © 2022 Midwest Real Estate Data LLC.
Listing provided courtesy of Straight-A Realty, Llc.


© 2022 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Keller Williams Success Realty. Based on information submitted to the MRED as of 2022-05-21T16:00:26.283 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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