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$1,700,000
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Property Description
ESTATE SALE... Very rare assemblage opportunity consisting of three (3) adjacent parcels located at 1041, 1043, and 1045 W Polk St in the highly sought-after Little Italy / University Village area of Chicago. This offering presents an incredible development opportunity in one of the city's most dynamic and supply-constrained submarkets. The property is ideally positioned just west of the Loop with immediate access to Downtown Chicago, I-290, CTA, and major arterial roads, and is surrounded by a strong mix of institutional, residential, medical, and retail uses. The area benefits from close proximity to UIC, Rush Medical District, and the rapidly expanding West Loop, driving sustained demand for new residential and mixed-use development. University Village and Little Italy continue to experience strong population growth, rental demand, and investor interest, supported by limited available land, ongoing neighborhood investment, and excellent connectivity to employment centers. This assemblage offers a rare chance to control multiple contiguous parcels in a premier infill location with long-term upside. Ideal for developers, investors, or owner-users seeking a strategic position in one of Chicago's most desirable urban neighborhoods.
Full Property Details
Full Property Details for 1041 W Polk St
General
- Price: $1,700,000
- Taxes: $15,162 (2024)
- Status: Active
- Type: Lots/Land
- Source: MRED
- MLS ID: 12535822
- Updated: 1/4/2026
- Added to Site: 28 day(s) ago
Location
- Area: CHI - Near West Side
- County: Cook
- Township: West Chicago
- Driving Directions: From the Loop: Take I-290/Washington Blvd west to Ashland Ave. Head south on Ashland Ave to Polk St, then east on Polk St to the property on the south side of the street between Sangamon St and Racine Ave.
School Information
- School District: 299
- Elem School District: 299
- Midd School District: 299
- High School District: 299
Utilities
- Onsite: Electricity to Site, Natural Gas Available
Structural Information
- Square Feet: 0.18
Lot Features
- Lot Size (Acres): 0.18
- Lot Size (Sq. Ft.): 0.18
- Lot Size Range: Less than .25 Acre
- Lot Dimensions: 78 x 100
- Frontage: None
- Frontage Feet: 78
- Street/Road Desc.: Asphalt
- Potential Use: Multi-Family
Financial Considerations
- Tax Amount: $15,162
- Tax Year: 2024
Disclosures and Reports
- Ownership: Fee Simple
- Property ID: 17174200040000
Listed by Brookline Real Estate LLC
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Schools
Schools serving 1041 W Polk St
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Smyth J Elementary School 1059 West 13th Street, Chicago, IL 60608 | K-8 | 0.4 mi |
Wells Community Academy High School 936 North Ashland Avenue, Chicago, IL 60622 | 9-11 | 2.1 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1041 W Polk St
Date
Details
Price
Change
Source
12/30/2025
Price Reduced
$1,700,000
-15%
MLS
12/21/2025
Listed
$2,000,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 1041 W Polk St
Year
Property Taxes
Change
Tax Assessment
Change
2023
$2,477
3%
$11,700
—
2022
$2,415
2%
$11,700
—
2021
$2,361
19%
$11,700
32%
2020
$1,976
11%
$8,840
—
2019
$1,782
2%
$8,840
—
2018
$1,752
4%
$8,840
13%
2017
$1,685
8%
$7,800
—
2016
$1,562
9%
$7,800
—
2015
$1,429
16%
$7,800
18%
2014
$1,230
2%
$6,630
—
2013
$1,206
1%
$6,630
—
2012
$1,190
—
$6,630
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1041 W Polk St
1041 W Polk Street, Chicago, IL 60607 (MLS# 12535822) is a Lots/Land property with a lot size of 0.18 acres. 1041 W Polk Street is currently listed for $1,700,000 and was received on December 21, 2025. Want to learn more about 1041 W Polk Street? Do you have questions about finding other Lots/Land real estate for sale in Near West Side? You can browse all Near West Side real estate or contact a Coldwell Banker agent to request more information.

