$ 399,000
5147 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
$ 399,000
Est. payment /mo
Active
5147 S Michigan AVE Chicago, IL 60615
0.37 Acres Lot
UPDATED:
10/07/2024 06:20 PM
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 11947999
Annual Tax Amount $1,005
Tax Year 2022
Lot Size 0.370 Acres
Lot Dimensions 100X161
Property Description
Residential developers don't miss out on this excellent opportunity to purchase an .37-acre lot in Chicagoland's Washington Park neighborhood. Zoned RM-5, this sizable lot is prime for development. 16,000+ square feet - There is REAL multifamily development upside! 5432 S Michigan Ave and 5434 S Michigan Ave recently sold for $1,055,000 each, within the past 3 months!! These two, new construction, buildings have only 3-units and within walking distance of the subject property! This available parcel also has the square footage to build four 3/4-unit residential buildings! Build your own collection of four luxury 3-units and achieve a $4M+ valuation upside, achieve potentially higher values with 4-unit building! 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
Heating None
Cooling None
Fireplace N
Exterior
Utilities Available Electric Nearby, Gas Nearby, Sanitary Sewer, Water 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