1510 E 67th Street, Chicago, IL 60637

  • $499,000
  • $499,000
1510 E 67th Street, Chicago, IL 60637
  • Land
  • Property Type
For Sale
1510 E 67th Street, Chicago, IL 60637
  • $499,000
  • $499,000

Overview

Property ID: 90054
  • Land
  • Property Type

Description

Multi-million-dollar investment opportunity for a savvy and capable developer looking to break ground in Chicagoland’s smoking hot Woodlawn neighborhood! Located less than a mile away from the Obama Presidential Center, this sizable lot is prime for development! Totaling .29 acres or 12,687 square feet! Zoned B3-3 allowing for both residential and commercial development (Residential apartments are permitted above the ground floor)! This lot has enough square footage to build 8-12 residential rental or condo units on top of the first level commercial space. Residential rental units are valued at approximately $90,000 per unit and condos with at least 2-bathrooms are selling for $250,000+ within a half mile radius of the subject property! With the right development strategy and the continuing upward trends in this neighborhood, there is a $4M – $5M valuation to be achieved! As a result of this lot being zoned B3-3, a retail building should be developed and residential apartments or condo units should be built on top of the commercial structure to achieve maximum upside). A laundromat/cleaners combo would be an excellent proposed use of the commercial space as mid-sized laundromats have the potential to net $10,000 – $25,000 in monthly profit! Proximity to the University of Chicago, public transportation, and the LakeFront! ***Fun facts, Chicago broke ground on the Obama Presidential Center on 9.28.21 and a similar larger lot just a few blocks away located at 1318 E 67th St, Chicago, IL 60637 sold 9.19.22 for $975,000, (MLS#11292420)*** Please act swiftly as this opportunity will not last long!

  • Address 1510 E 67th Street
  • City Chicago
  • State/county IL
  • Zip/Postal Code 60637
  • Country United States

Details

Updated on December 28, 2023 at 4:30 am
  • Property ID: 90054
  • Price: $499,000
  • Land Area: 0.28 Acres
  • Property Type: Land
  • Property Status: For Sale
  • MLS#: MRD11609888
  • Office Name: STRAIGHT-A REALTY, LLC
  • Agent Name: Michael Applegate
  • MLS Status: Active

Additional details

  • List Office MLSID: MRD27867
  • List Agent MLSID: MRD247911
  • List Date: 2022-11-04T13:47:06.000Z
  • Tax Annual: 2298.48
  • Tax Year: 2021
  • County: Cook

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