IL
Cook
Chicago
60637
1510 E 67th Street
1510 E 67th Street, Chicago, IL 60637
Listing Type
Lots/Land
Listing Status
active
6
$389,900

Home Details for 1510 E 67th Street

Price
$389,900
Type
Land
Bedrooms
0
Bathrooms
Square feet
NaN
Lot size acres
0.28
County
Cook
Garage
Days on site
13
MLS Listing#
12283811
Listing Courtesy: Straight-A Realty, LLC - 630-288-2446
Property 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!

Property Features
    Midwest Real Estate Data logo Based on information submitted to the MLS GRID as of 2025-02-10 00:31:06. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    Last Updated: 2025-02-10 00:31:06
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    EXIT TRUE DESIGN REALTY
    11070 S. Western Ave. Suite 7, Chicago, IL 60643
    Office
    708 573 8801
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