700 S Kedzie Avenue, Chicago, IL, 60612

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$1,000,000
114 Days Online

700 S Kedzie Avenue
Chicago, IL 60612

For Sale|Land|Active
County:
Cook
Listing Courtesy of MRED as distributed by MLS Grid of Straight-A Realty, LLC 630-288-2446

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312-498-8822
700 S Kedzie Avenue700 S Kedzie Avenue700 S Kedzie Avenue700 S Kedzie Avenue
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Eight figure multi-million-dollar investment opportunity for a savvy and capable developer looking to break ground in Chicagoland's smoking hot East Garfield Park neighborhood! Located just 10 minutes away from the Chicago Loop, this three-quarter of an acre lot is prime for development! Multiple pins totaling .7522 acres or 32, 768 square feet, this parcel of land stretches an entire city block! Zoned PD999 allowing for both residential, campuses, mixed-use, tall buildings, and commercial development with city approval. Partner with the City of Chicago to secure millions in TIF funds in the effort to develop similar East Garfield Park projects such as, The Garfield Green Affordable Housing Development (82 units), the Affordable Housing Project (43 units), and the Garfield Green Apartments (81 units). These are all local development projects that secured millions in TIF funding! The subject parcel and lots have enough square footage to build 60+ residential units! A renovated 6-unit within a 1-mile radius just sold for $1, 400, 000 - there is enough square footage to build 10 of these structures on this block! There is also upside to build 30+ sizable condo units! 3-bedroom condos sell for $250, 000 - $275, 000 within a square mile radius. With the right development strategy and the continuing upward trends in this neighborhood, there is a $10M-$16M valuation upside and seven figures in annual revenue to be achieved. With city approval, retail space can be built on the ground level and taller structures can be developed which would allow for more residential units - all strategies detailed above assume a standard 3 story building structure. This land sits on excellent strategic location for development - proximity to downtown, the interstate, public transportation and walking distance to the Chicago Police Department. Property is located in a Tax Increment Financing (TIF) District! Please act swiftly as this opportunity will not last long!

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Listing Snapshot
Price 
$1,000,000
Days Online 
114 Days
Bedrooms 
N/A
Inside Area (SqFt) 
N/A
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
N/A
Year Built 
N/A
MLS Number 
11920447
Status 
Active
Property Tax 
$15,908
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
4 months agoListing updated with changes from the MLS
4 months agoListing first seen online
General Features
Zoning 
PUD
General Information 
None
Lot Size 
.50-.99 Acre
Interior Features
Utilities 
Electric NearbyGas NearbySanitary SewerSewer-Storm AvailableWater-Municipal
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Exterior Features
Waterfront Property 
No
Community Features
Township 
West Chicago
MLS Area 
CHI - East Garfield Park
Schools
School District
299
Elementary School
Unknown
Middle School
Unknown
High School
Unknown
Listing Courtesy of MRED as distributed by MLS Grid of Straight-A Realty, LLC 630-288-2446



Based on information submitted to the MLS GRID as of 2024-02-22 04:35 PM UTC. All data is obtained from various sources and may not have been verified by 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.
Data last updated: 2024-02-22 04:35 PM UTC
MRED DMCA Copyright Information Copyright © 2024 Midwest Real Estate Data LLC. All rights reserved.

Neighborhood & Commute
Source: Walkscore
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