Located just off the Racine Train stop in the West Loop neighborhood of Chicago. Potential TOD (transit-oriented development) on 13,280 SF Lot zoned C1-3. Currently, the site is improved with a 14,500 +/- SF mixed-use building with newer plumbing, newer electric and septate tenant-paid forced air heat, and central AC. These extra-large residential units are currently leased on a month to month basis at substantially under market rental rates. Excellent opportunity to complete cosmetic upgrades and increase rents.
This offering includes about 7,000 SF of excess land that is currently included in the lease for the retail tenant. This land could be sold/developed in the future once alleviated of the current retail lease obligation.
Great opportunity to own in the rapidly appreciating West Loop neighborhood of Chicago. With cosmetic upgrades, this property will generate cash flow while offering substantial future development opportunity.
Potential TOD (transit-oriented development) Located just off the Racine Train stop in the West Loop