Courtesy of Straight-A Realty, LLC

1318 E 67th Street

Chicago, IL, 60637

$1,099,000

$1,099,000
Active Under Contract
Active Under Contract
 - For Sale
property_type
Land
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!***
MLS® ID:
11292420
Listed:
12/19/21
Updated:
8/8/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Cooling
None
Heating
None

Exterior/Building Features

Lot Size
0.52 acres lot

School Information

High School
299
Elementary School
299

Other Property Details

Area Name
CHI - Woodlawn
Taxes
$16120.94
Tax Frequency
per YEAR
Garage
No
Parking
N
View
N
County
Cook
Utilities
Electric to Site, Gas to Site, Sanitary Sewer, Water-Municipal, Water to Site, None
Pool
No
Zoning
MULTI

Property History

Date
Event
Price
Value
6/27/22
Active Under Contract
-
-

 

Courtesy of Straight-A Realty, LLC

The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than Melanie Giglio-Vakos Team are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

Based on information submitted to the  MLS GRID for MRED 8/8/22. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and 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. 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. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.

©2022 Listings Courtest of MRED as distributed by MLS GRID. All rights reserved.

Data last updated 10:58 PM UTC, 8/8/22

 

 

Contact