5747 S Indiana

Chicago, IL 60637

Seven figure multi-million-dollar investment opportunity for a savvy and capable developer looking to break ground in Chicagoland's red hot Washington Park neighborhood! Located in an appreciating Washington Park territory, this sizable lot is prime for development! Totaling .56 acres or 24,311 square feet (150x162)! Zoned B3-3 allowing for both residential and commercial development (Residential apartments/condos are permitted above the ground floor)! This lot has enough square footage to build 24-26 residential rental or condo units on top of 8 ground level commercial spaces. Residential condo units are selling for $250,000+ within a mile radius of the subject property! If you prefer rentals, 26 units would generate $500,000+ in annual revenue! With the right development strategy and the continuing upward trends in this neighborhood, there is a $7M+ valuation to be achieved! As a result of this lot being zoned B3-3, retail spaces should be developed on the ground level and residential apartments or condo units should be built on top of the commercial spaces to achieve maximum valuation potential. Proximity to Washington Park, the University of Chicago, public transportation, and interstate access! Please act swiftly - the opportunity to build is becoming more scarce as this Chicagoland neighborhood is a hotbed for development!