1510 E 67th St Chicago, IL 60637
Grand Crossing NeighborhoodEstimated payment $2,312/month
About This Lot
Multi-million-dollar investment opportunity for a savvy and capable developer looking to break ground in Chicagoland's smoking hot Woodlawn neighborhood! Located less than a mile away from the Obama Presidential Center, this sizable lot is prime for development! Totaling .29 acres or 12,687 square feet! Zoned B3-3 allowing for both residential and commercial development (Residential apartments are permitted above the ground floor)! This lot has enough square footage to build 8-12 residential rental or condo units on top of the first level commercial space. Residential rental units are valued at approximately $90,000 per unit and condos with at least 2-bathrooms are selling for $250,000+ within a half mile radius of the subject property! With the right development strategy and the continuing upward trends in this neighborhood, there is a $4M - $5M valuation to be achieved! As a result of this lot being zoned B3-3, a retail building should be developed and residential apartments or condo units should be built on top of the commercial structure to achieve maximum upside). A laundromat/cleaners combo would be an excellent proposed use of the commercial space as mid-sized laundromats have the potential to net $10,000 - $25,000 in monthly profit! Proximity to the University of Chicago, public transportation, and the LakeFront! ***Fun facts, Chicago broke ground on the Obama Presidential Center on 9.28.21 and a similar larger lot just a few blocks away located at 1318 E 67th St, Chicago, IL 60637 sold 9.19.22 for $975,000, (MLS#11292420)*** Please act swiftly as this opportunity will not last long!
Property Details
Property Type
- Land
Est. Annual Taxes
- $2,298
Lot Details
- 0.28 Acre Lot
- Lot Dimensions are 100 x 127
- Property is zoned MULTI
Additional Features
- Electricity Available at Street
- Gas Available at Street
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $2,420 | $12,700 | $12,700 | -- |
| 2023 | $2,351 | $11,430 | $11,430 | -- |
| 2022 | $2,351 | $11,430 | $11,430 | $0 |
| 2021 | $2,298 | $11,430 | $11,430 | $0 |
| 2020 | $2,546 | $11,430 | $11,430 | $0 |
| 2019 | $2,296 | $11,430 | $11,430 | $0 |
| 2018 | $2,258 | $11,430 | $11,430 | $0 |
| 2017 | $2,050 | $9,525 | $9,525 | $0 |
| 2016 | $1,908 | $9,525 | $9,525 | $0 |
| 2015 | $1,745 | $9,525 | $9,525 | $0 |
| 2014 | $1,767 | $9,525 | $9,525 | $0 |
| 2013 | $1,732 | $9,525 | $9,525 | $0 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/04/2025 02/04/25 | For Sale | $389,900 | +584.0% | -- |
| 12/19/2019 12/19/19 | Sold | $57,000 | -36.0% | -- |
| 11/16/2019 11/16/19 | Pending | -- | -- | -- |
| 11/14/2019 11/14/19 | For Sale | $89,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $57,000 | Fidelity National Title | |
| Public Action Common In Florida Clerks Tax Deed Or Tax Deeds Or Property Sold For Taxes | -- | Attorney | |
| Deed | $25,000 | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12283811
APN: 20-23-228-017-0000
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