About 5165 South Michigan Avenue
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!
Features of 5165 South Michigan Avenue
| MLS® # | 11948000 |
|---|---|
| Price | $199,000 |
| Bathrooms | 0.00 |
| Acres | 0.19 |
| Type | Land |
| Sub-Type | Land |
| Status | Active |
Community Information
| Address | 5165 South Michigan Avenue |
|---|---|
| Area | CHI - Washington Park |
| City | Chicago |
| County | Cook |
| State | IL |
| Zip Code | 60615 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
Interior
| Fireplace | No |
|---|---|
| Has Basement | No |
School Information
| District | 299 |
|---|
Additional Information
| Days on Market | 267 |
|---|---|
| Zoning | MULTI |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Straight-A Realty, LLC |
|---|