225 W Chicago Ave - Development Opportunity
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225 W Chicago Ave - Development Opportunity
0.35 Acres of Residential Land Offered at $6,328,800 CAD in Chicago, IL 60654
Executive Summary
This 15,310 SF site at the SEC of Chicago and Franklin is adjacent to the Chicago CTA L stop, which services the Brown and Purple lines. It is the last vacant parcel on Chicago Avenue east of the River. The site is zoned as a planned development for a nine-story office building (see PD approval docs included with this listing). Zoning would revert to DX-5 upon unwinding of the PD. Base FAR is 76,550 SF. Additional FAR of 47,461 SF is available for purchase under the Neighborhood Opportunity Bonus. The site is ideally-positioned in a walk-to-everything location in River North, the cultural and entertainment hub of Chicago.
Property Facts
| Price | $6,328,800 CAD | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 0.35 AC |
| Price | $6,328,800 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.35 AC |
1 Lot Available
Lot
| Price | $6,328,800 CAD | Lot Size | 0.35 AC |
| Price Per AC | $17,963,266 CAD |
| Price | $6,328,800 CAD |
| Price Per AC | $17,963,266 CAD |
| Lot Size | 0.35 AC |
+ High exposure site creating demand generators for a multitude of uses + 225 W Chicago is surrounded by an ever-improving area with notable new developments like One Chicago, North Union and the proposed Bally’s Casino.
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Walk Score ®
Walker's Paradise (99)
Transit Score ®
Rider's Paradise (90)
Bike Score ®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | 17-09-202-026-0000 | Improvements Assessment | $0 CAD |
| Land Assessment | $319,397 CAD | Total Assessment | $319,397 CAD |
PROPERTY TAXES
Parcel Number
17-09-202-026-0000
Land Assessment
$319,397 CAD
Improvements Assessment
$0 CAD
Total Assessment
$319,397 CAD
zoning
| Zoning Code | DX-5 (Site is zoned as a PD for a nine-story office building (see PD approval docs included with listing). Zoning would revert to DX-5 upon unwinding of PD.) |
| DX-5 (Site is zoned as a PD for a nine-story office building (see PD approval docs included with listing). Zoning would revert to DX-5 upon unwinding of PD.) |
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225 W Chicago Ave - Development Opportunity
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