$499,000
BEDS
--
BATHS
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SQFT
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ACRES
0.28
Active MLS # 11609888, Listed by Straight-A Realty, LLC
Active MLS # 11609888, Listed by Straight-A Realty, LLC
1510 E 67th Street is a $499,000 home on a 0.28 acre lot located in Chicago, IL.
Seller’s 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!
Features
INTERIOR
EXTERIOR
| Exterior Features | City Street Closing Immediate Asphalt None Electric Nearby Gas Nearby Water Nearby |
PROPERTY
| Property Type | Land |
| Style | Land |
| HOA Fee | $0.00 |
| Taxes | $2,298.00 |
| County | cook |
| School District | 299 |
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Listings marked with the Broker Reciprocity icon (above) are provided courtesy of Midwest Real Estate Data, LLC. Broker Reciprocity Database. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.
