HOTlist Properties - Bucktown Income Property On Double Lot

Chicago income property

Comments:

Nice residential development play here. Property consists of a large 3-flat (for the area) on a 48' x 100' lot with RT-4 zoning. The parcel appears to have only one PIN which means at this price the highest and best use is to tear down the building and build a 4-unit condo building, 2-single family houses or (1) large single family.  It will be interesting to see how this property gets redeveloped.  At $400K/lot, there's not a huge margin to be made but with property values continuing to rise in the Bucktown neighborhood, I think the buyer (new home builder?) will make out fine.

$800,000

2310-12 W Palmer St.
Chicago, IL 60647

Type:  Multifamily 3 unit & vacant lot
Total Units: 3
Total Rooms: 18
Total Bedrooms:  9
Total Baths: 3
Basement:  Full-unfinished
Parking:  TBD 
Lot Size:  48' x 100'
Year Built:  Unknown
Assessments:  n/a
Taxes:  $8,498.39
Grade School Dist:  #299
County:  Cook
Neighborhood: Bucktown

Information provided by:  Menard Johnson & Assoc., Allen Johnson

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Do you own a property in Chicago that you think a builder or investor would be interested in buying, either as tear down (land value) or a rehab project? Contact Brent Hall to request an offer today or choose to list your property for sale on the open market.

Brent Hall: 312-725-6171

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