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700 S Kedzie Avenue, Chicago, IL 60612
$1,000,000
700 S Kedzie Avenue, Chicago, IL 60612View this property at 700 S Kedzie Avenue, Chicago, IL 60612
700 S Kedzie AvenueChicagoIL60612
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Property Description
Eight figure multi-million-dollar investment opportunity for a savvy and capable developer looking to break ground in Chicagoland's smoking hot East Garfield Park neighborhood! Located just 10 minutes away from the Chicago Loop, this three-quarter of an acre lot is prime for development! Multiple pins totaling .7522 acres or 32,768 square feet, this parcel of land stretches an entire city block! Zoned PD999 allowing for both residential, campuses, mixed-use, tall buildings, and commercial development with city approval. Partner with the City of Chicago to secure millions in TIF funds in the effort to develop similar East Garfield Park projects such as, The Garfield Green Affordable Housing Development (82 units), the Affordable Housing Project (43 units), and the Garfield Green Apartments (81 units). These are all local development projects that secured millions in TIF funding! The subject parcel and lots have enough square footage to build 60+ residential units! A renovated 6-unit within a 1-mile radius just sold for $1,400,000 - there is enough square footage to build 10 of these structures on this block! There is also upside to build 30+ sizable condo units! 3-bedroom condos sell for $250,000 - $275,000 within a square mile radius. With the right development strategy and the continuing upward trends in this neighborhood, there is a $10M-$16M valuation upside and seven figures in annual revenue to be achieved. With city approval, retail space can be built on the ground level and taller structures can be developed which would allow for more residential units - all strategies detailed above assume a standard 3 story building structure. This land sits on excellent strategic location for development - proximity to downtown, the interstate, public transportation and walking distance to the Chicago Police Department. Property is located in a Tax Increment Financing (TIF) District! Please act swiftly as this opportunity will not last long!
Full Property Details
Full Property Details for 700 S Kedzie Ave
General
- Price: $1,000,000
- Taxes: $15,908 (2022)
- Status: Active
- Type: Lots/Land
- MLS ID: 11920447
- Updated: 3/29/2024
- Added to Site: 184 day(s) ago
Location
- Area: CHI - East Garfield Park
- County: Cook
- Township: West Chicago
- Driving Directions: Harrison to Kedzie, South to Property
School Information
- School District: 299
- Elem School District: 299
- Midd School District: 299
- High School District: 299
Utilities
- Onsite: Electricity Nearby, Gas Nearby, Sanitary Sewer, Storm Sewer Available, Municipal Water
Structural Information
- Current Bldg. Use: Development
Lot Features
- Lot Size (Sq. Ft.): 33,000
- Lot Size Range: .50 to .99 Acre
- Lot Dimensions: 264 x 125
- Frontage: City Street
- Frontage Feet: 264
- Street/Road Desc.: Asphalt
- Zoning: PUD
Financial Considerations
- Tax Amount: $15,908
- Tax Year: 2022
Disclosures and Reports
- Ownership: Fee Simple
- Property ID: 16144070420000
Listed by Straight-A Realty, LLC
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Schools
Schools serving 700 S Kedzie Ave
School District:Chicago Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
3715 W Polk St, Chicago, IL 60624 | PK-8 | 0.7 mi | |
2935 W Polk St, Chicago, IL 60612 | 9-12 | 0.4 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 700 S Kedzie Ave
Date
Details
Price
Change
Source
10/31/2023
Listed
$1,000,000
458.66%
MLS
5/04/2007
Sold
$179,000
—
Public Record
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 700 S Kedzie Ave
Year
Property Taxes
Change
Tax Assessment
Change
2022
$489
2%
$2,368
—
2021
$478
-10%
$2,368
—
2020
$529
11%
$2,368
—
2019
$477
2%
$2,368
—
2018
$469
3%
$2,368
12%
2017
$457
8%
$2,116
—
2016
$424
9%
$2,116
—
2015
$388
4%
$2,116
5%
2014
$374
2%
$2,016
—
2013
$367
1%
$2,016
—
2012
$362
—
$2,016
—
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 700 S Kedzie Ave
700 S Kedzie Avenue, Chicago, IL 60612 (MLS# 11920447) is a Lots/Land property with a lot size of acres. 700 S Kedzie Avenue is currently listed for $1,000,000 and was received on October 31, 2023. Want to learn more about 700 S Kedzie Avenue? Do you have questions about finding other Lots/Land real estate for sale in East Garfield Park? You can browse all East Garfield Park real estate or contact a Coldwell Banker agent to request more information.