$ 199,000
5165 S Michigan AVE Chicago, IL 60615
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 199,000
Est. payment /mo
Active
5165 S Michigan AVE Chicago, IL 60615
8,276 Sqft Lot
UPDATED:
10/07/2024 05:48 PM
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 11948000
Annual Tax Amount $2,870
Tax Year 2022
Lot Size 8,276 Sqft
Lot Dimensions 52X161
Property Description
Residential developers don't miss out on this excellent opportunity to purchase an .19-acre lot in Chicagoland's Washington Park neighborhood. Zoned RM-5, this sizable lot is prime for development. Totaling 8,372 square feet - there is upside to develop an 8-unit residential building! An 8-unit residential building recently sold for $1,152,575 within 1-mile of the subject property within the past 12 months. The subject parcel also has the square footage to build two 4-unit residential buildings! A new construction 4-unit sold for $975,000 within a square mile of the subject property within the past 12 months! Build two of these 4-units to achieve a $2M+ valuation upside. Condo conversion is also an excellent strategy, 3-bedroom condos in Washington Park sell for $250,000+. This plot sits in an excellent territory on Chicago's famous Michigan Ave, proximity to George Washington Park, Provident Hospital, and interstate access!
Location
State IL
County Cook
Area Chi - Washington Park
Zoning MULTI
Interior
Fireplace N
Exterior
Utilities Available Electric Nearby, Gas Nearby
Waterfront false
Building
Dwelling Type Land
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Michael Applegate • Straight-A Realty, LLC