$199,000
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5165 S Michigan Avenue Chicago, IL 60615
Land
Residence
Beds
Baths
Sq. Ft.
0.19
Acre
Lot
Property Activity
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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 resi...dential 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!
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MLS#
11948000
Property Type
Land
Lot Size
0.19
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