Land in Chicago, IL — Sale in Chicago, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Commercial Land
  • Location: Chicago, IL 60661

Photos

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Description

Premier Fulton Market Entitled Development Site Large, High-Exposure Urban Footprint. 640 W Washington is a large, 35,000+ SF city land site at the hard corner and lighted intersection of Washington Blvd. and Des Plaines St. The Property is bound by I-90 on the west side, with exposure to over 228,000 vehicles per day. The Property further benefits from a large rectangular shape, efficient for high-rise site planning. 640 W Washington is fully entitled for a substantial mixed-use luxury residential (rental or for-sale condos) project, under a DX-7/11.5 zoning. Under the Planned Development (PD 1502), there are entitlements in place for 413 residential units, with only 10 set aside as affordable housing units. - Fully entitled residential project with only 10% affordable housing required, half of the current Chicago requirement of 20% for new projects. - Fully designed plans by well-known architect, HPA. - No lengthy, costly, or contentious zoning process to go through, however a new buyer may choose to redesign the building.

Market Context

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