5165 S Michigan Avenue
Chicago, IL 60615
- – beds
- – baths
- – sqft
- 8,276 sqft lot
- – on site
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!
Last checked:
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Last updated Oct 11, 2024
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MLS# 11948000 —
Location
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Directions:Drive East on 51st Street to Michigan Ave, then drive South to the land site.
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Location:27867
The Property
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Parcel Number:20103020130000
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Property Type:Land
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Lot Size Dimensions:52X161
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Lot Size Acres:0.19
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Possible Use:Multi-Family
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Zoning:MULTI
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Building On Land:No
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Frontage Type:City Street
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Frontage Length:52
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Waterfront:false
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Road Surface Type:Asphalt
Listing Agent
- Contact info:
- Agent phone:
- (708) 743-0043
- Office phone:
- (630) 288-2446
Taxes
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Tax Year:2022
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Tax Annual Amount:2870.44
The Listing
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Special Listing Conditions:None
Utilities
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Utilities:Electric Nearby, Gas Nearby
Schools
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Elementary School District:299
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Middle Or Junior School District:299
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High School District:299
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
12/16/23
Dec 16, 2023
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Listed / Active | MRED | $199,000 | |
|
11/12/22
Nov 12, 2022
|
Listed / Active | MRED |
