Property Overview
The attached subject opportunity is currently a seven-unit apartment building that’s sitting on a 60’x143.44 (8613 SF) lot in the heart of Chicago’s Uptown Neighborhood. In addition, there is an existing 12-space parking lot in the rear of the building. The zoning of the site is B3-5 which has an FAR multiple of 5 allowing for a maximum building size of 43,000 SF as of right. The attached subject opportunity allows for a new owner to step into an asset that is already income-producing with the ability to redevelop it into 38-42 units on the existing land.
Highlights
- Opportunity to Redevelop into 38-42 Units on Existing Land
- 12-Space Parking Lot in Rear
- Current Zoning of B3-5
Key Details
Sales Price
$2,400,000
Number of Units
Seven (7) Existing Units
Submarket
Uptown
Parking Spaces
Twelve (12)