Chicago IL Real Estate & Land for Sale

1 Properties Found

The median home value in Chicago, IL is $356,377. This is higher than the county median home value of $267,250. The national median home value is $277,796. The average price of homes sold in Chicago, IL is $356,377. Approximately 40% of Chicago homes are owned, compared to 48% rented, while 12% are vacant. Chicago real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you like to see a property, contact Chicago real estate agent to arrange a tour today!
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Beds:
n/a
Baths:
Sq.Ft.:
n/a
Status:
Active
MLS#:
11074672
Type:
Land
Lot size:
0.1 Acres
A broker reciprocity listing Courtesy: Baird & Warner
View additional info

Located in Edgewater/Andersonville at the lighted intersection of Ridge and Glenwood, the 4,356 sq. ft. property sits on a hard corner in a densely infill retail/residential corridor of Edgewater Glen. The property consists of a laundromat, an 825 sq. ft. space with 2 restroom and a 725 sq. ft, space with 1 bathroom - both spaces vacant spaces facing Glenwood need to be built out but will provide additional income. An investor may choose to develop the property into multi unit residential rentals or condominiums, as there is a high barrier of entry for both. Currently, a laundromat/dry cleaners (plant has never been on site), the property yields approximately $50K annually in income but has the potential for much more and offers a savvy investor the opportunity for stabilization by renovating the existing property, laundromat and renting the 2 vacant units on Glenwood or allows for a developer to completely re-imagine the property - a huge bonus with plumbing, sewer, electrical, etc already serving the site. **** In meetings with the Alderman, he is supportive of development on this corner and is favorable to increasing allowable height for multi-family units 2BR's and more. Alderman will not allow Liquor sales on the premises at this location. Multiple Addresses. Currently owner/user property but HUGE ADD VALUE OPPORTUNITY!

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The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than the broker/agent who owns the website are marked with the MRED Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (the MRED logo) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. Information Deemed Reliable but Not Guaranteed. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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