Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    12242 S Wallace St Chicago, IL 60628

    Sponsored
    For Sale
    Contact for pricing

    LAND - Chicago, IL

    Lot size:
    0.10 Acres
    Days on Market:
    25
    Last Refresh:
    Jan 7 at 5:06 am

    Property Features for 12242 S Wallace St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    25281270320000
    Lot size
    0.10 Acres

    Keller Williams Preferred Realty (708) 798-1111 [email protected]

    Listing agent Aaron Gaines (708) 479-3300

    Listing date Dec 14, 2025

    MLS# 12529604 Listing URL

    Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Oversized Chicago Lot For Sale

    This oversized Chicago lot offers potential in a residential pocket of West Pullman, situated steps from established single-family and multi-unit homes. The parcel provides approximately 4,500+ square feet of land, making it suitable for ground-up new construction or a strategic buy-and-hold addition to an investment portfolio. The location allows convenient access to I-57, nearby parks, schools, shopping, and public transportation. This accessibility may make it a strong option for future resale or rental demand. This property presents an opportunity to create a home or income-producing property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.637225
    Latitude
    41.671112

    Nearby Similar for Sale

    • $2,350,000

      Renovated Multifamily Building in Rogers Park

      Completely renovated 4-unit building near Loyola University and the Red Line.
      1535 W Estes Ave, Chicago, IL 60626
      View Details
    • $4,240,000
      0.46 Acres

      Bronzeville Collection: Turnkey Investment Opportunity

      Classic Chicago 23-unit building with 20 parking spaces in Bronzeville.
      4840 S Indiana Ave, Chicago, IL 60615
      View Details
    • $8,360,000
      0.46 Acres

      Bronzeville Collection Prairie Ave Lofts

      31-unit renovated multifamily property in Chicago's Bronzeville neighborhood.
      4358 S Prairie Ave, Chicago, IL 60653
      View Details
    • $699,900
      0.07 Acres

      Residential Income Greystone in Chicago

      Brick building with oversized units in a desirable Chicago location.
      4615 S Vincennes Ave, Chicago, IL 60653
      View Details
    • $699,999
      0.07 Acres

      Turnkey Two-Flat Investment Property

      Modernized two-flat in Chicago, ideal for investors or owner-occupants.
      321 S Richmond St, Chicago, IL 60612
      View Details
    • $1,699,000
      Pending

      Six-Unit Multifamily Building in Chicago

      Well-maintained, fully rented six-unit building with architectural details.
      1509 W Thomas St, Chicago, IL 60642
      View Details
    • $1,399,000
      0.19 Acres

      Renovated Flex Building in Chicago

      Modernized 10,500 SF flex building in vibrant West Town.
      526 N Western Ave, Chicago, IL 60612
      View Details
    • New
      $1,049,000

      Four-Unit Multifamily Investment Opportunity

      Four units in Chicago's east Washington Park neighborhood.
      5644 S Prairie Ave, Chicago, IL 60637
      View Details
    • New
      $1,045,000

      Washington Park Four-Unit Investment Opportunity

      Four-unit property in east Washington Park with modern improvements.
      5331 S Calumet Ave, Chicago, IL 60615
      View Details
    • $4,000,000

      Renovated 9-Unit Building in Chicago

      Fully renovated 9-unit building near Hyde Park and lakefront.
      442-444 E 48Th St, Chicago, IL 60615
      View Details
    • New
      $449,000

      Three-Unit Brick Building in Chicago

      Legal three-unit building with refurbishment potential in a vibrant neighborhood.
      321 N Avers Ave, Chicago, IL 60624
      View Details
    • New
      $2,595,000

      Renovated Mixed-Use Building in Lincoln Park

      Two-tenant commercial/residential building near Lincoln Park with long-term income.
      1950 N Sedgwick St, Chicago, IL 60614
      View Details

    FAQs

    What type of property is this?
    Land - Oversized Chicago lot in West Pullman, ideal for new construction.
    Where is this land located?
    The property is located at 12242 S Wallace St Chicago, IL.
    What is the asking price?
    The asking price for this property is $29,000.
    What are key features of this property?
    This property features: - Oversized Chicago lot (4,500+ sq ft) ideal for new construction.; - Excellent investment opportunity for ground-up construction or buy-and-hold strategy.; - Convenient access to I-57, parks, schools, shopping, and public transportation.
    (708) 479-3300
    Request Owner's contact information
    12242 S Wallace St Chicago, IL 60628
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    12242 S Wallace St
    Chicago, IL 60628
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    12242 S Wallace St Chicago, IL 60628
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.