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$ 1,155,000
Est. payment /mo
Active
556 E 47th ST Chicago, IL 60653
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12325048
Annual Tax Amount $3,306
Tax Year 2023
Lot Dimensions 120X175
Property Sub-Type Land
Property Description
Located in the thriving neighborhood of Bronzeville, Chicago, this land parcel portfolios offers a prime opportunity to invest in an area poised for development. With significant cultural value and a rapidly growing economic landscape, Bronzeville is attracting attention from developers, businesses, and investors alike. This land portfolio includes 2 parcels, all strategically located to capitalize on the neighborhood's ongoing revitalization and increasing demand for both residential and commercial developments. The land parcels in this portfolio range in size and zoning, offering flexibility for various development possibilities. These include: 556 E 47th St. | 14,980 SF | Zoned B3-2. | APN - 20-03-424-025 and 4644 S Saint Lawrence | 6,020 SF | Zoned B3-2. | APN - 20-03-424-017 Total | 21,000 SF | Zoned B3-2. | Purchase Price - $1,155,000 Bronzeville Neighborhood Development Bronzeville has become a key area for urban development in Chicago, benefiting from several major projects. The Bronzeville Lakefront Project is one of the largest undertakings in the area, transforming the former Michael Reese Hospital site into a mixed-use development that includes residential units, retail, and office spaces. Additionally, the Artis Senior Living Center and Boxville Marketplace continue to shape the neighborhood's identity, bringing commercial activity and community-focused ventures to the area. Positive Economic Indicators Bronzeville's economic outlook is highly favorable for investors: Rising Property Values: The neighborhood has seen significant appreciation in property values, fueled by development projects and increasing demand. Job Growth: Employment opportunities, particularly in healthcare, education, and technology, are expanding, contributing to the neighborhood's economic vitality. Transportation Access: Bronzeville boasts excellent public transportation options, making it a convenient location for both residents and businesses. Overall, this land parcel represents a strong investment opportunity in a neighborhood that combines historical significance with modern economic growth. With competitive pricing and a variety of development possibilities, these land parcels are well-positioned to benefit from the ongoing transformation of Bronzeville.
Location
State IL
County Cook
Area Chi - Grand Boulevard
Zoning COMMR
Interior
Fireplace N
Exterior
Utilities Available None
Building
Dwelling Type Land
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
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Listed by Anthony Hardy • Keller Williams ONEChicago