About 5147 South Michigan Avenue
Residential developers don't miss out on this excellent opportunity to purchase an .37-acre lot in Chicagoland's Washington Park neighborhood. Zoned RM-5, this sizable lot is prime for development. 16,000+ square feet - There is REAL multifamily development upside! 5432 S Michigan Ave and 5434 S Michigan Ave recently sold for $1,055,000 each, within the past 3 months!! These two, new construction, buildings have only 3-units and within walking distance of the subject property! This available parcel also has the square footage to build four 3/4-unit residential buildings! Build your own collection of four luxury 3-units and achieve a $4M+ valuation upside, achieve potentially higher values with 4-unit building! 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!
Features of 5147 South Michigan Avenue
| MLS® # | 11947999 |
|---|---|
| Price | $399,000 |
| Bathrooms | 0.00 |
| Acres | 0.37 |
| Type | Land |
| Sub-Type | Land |
| Status | Active |
Community Information
| Address | 5147 South Michigan Avenue |
|---|---|
| Area | CHI - Washington Park |
| City | Chicago |
| County | Cook |
| State | IL |
| Zip Code | 60615 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
Interior
| Heating | None |
|---|---|
| Cooling | None |
| Fireplace | No |
| Has Basement | No |
School Information
| District | 299 |
|---|
Additional Information
| Days on Market | 296 |
|---|---|
| Zoning | MULTI |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Straight-A Realty, LLC |
|---|