$ 1,799,770
3550 W Peterson Avenue Chicago, IL 60659
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$ 1,799,770
Est. payment | /mo
19,000 SqFt
$ 1,799,770
Est. payment | /mo
19,000 SqFt
Key Details
Property Type Commercial
Sub Type Office/Tech
Listing Status Active
Purchase Type For Sale
Square Footage 19,000 sqft
Price per Sqft $94
MLS Listing ID 11976446
Year Built 1971
Annual Tax Amount $49,922
Tax Year 2022
Lot Size 0.500 Acres
Lot Dimensions 208 X 100
Property Description
This prime hard corner property presents a rare opportunity for developers and investors alike. The offering includes a two-story, 15,000 square foot office building on a generous 15,769 square foot lot (0.36 acres) at the intersection of Peterson and a neighboring street, as well as the adjacent 50 x 100 foot property at 3540 W. Peterson. Combined, these two properties form an expansive 207.6 x 100 foot lot, ideal for a significant new development. Currently owned by a non-profit entity with plans to redevelop, the existing office building is occupied by multiple tenants but requires extensive work. The B2-1 zoning, designated as Neighborhood Mixed-Use District, allows for retail storefronts and apartments on the ground floor, encouraging development in commercial corridors with low demand for retail. The FAR (Floor Area Ratio) of 1.2 further supports mixed-use redevelopment potential. This offering is perfect for those looking to create a large-scale project in a desirable area. The seller is seeking a buyer for both buildings together, providing a substantial footprint for a transformative new development. Don't miss this unique opportunity to shape the future of this key location.
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling Central Air
Flooring Carpet
Fireplace N
Exterior
Utilities Available Electric to Site, Gas to Site, Water-Municipal, Water to Site
View Y/N true
Building
Foundation Concrete Perimeter
Structure Type Brick
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Andrew Glatz • Crown Heights Realty