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    1248 W 51St St Chicago, IL 60609

    Picture of Commercial land at W 51St St 1248, Chicago, IL
    Under Contract
    For Sale
    Contact for pricing

    Land - Chicago, IL

    Days on Market:
    35
    Last Refresh:
    Dec 8 at 12:06 pm

    Property Features for 1248 W 51St St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    20081300400000

    Building Details

    Architectural style
    Other

    A.R.E. Partners (312) 339-7655 [email protected]

    Listing agent Antje Gehrken (312) 300-7237 License #471002284

    Listing date Nov 4, 2025

    MLS# 11959991 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

    Chicago Land Opportunity in New City

    This 3000 sq. ft. property is a vacant lot located in Chicago's New City neighborhood, specifically in the 20th ward. The zoning is B3-2. It is situated in close proximity to the 47th/Ashland TIF district neighborhood, which features multiple ongoing projects. The property is also near budding mixed commercial use zoning and is approximately a 10-minute drive from Kennedy King Community College. Public transportation is accessible via CTA bus lines on 51st Street and nearby Ashland Avenue. The property is being sold in its current condition, without any representations or warranties. Prospective buyers are responsible for conducting their own due diligence, including verifying the size, zoning, potential uses, TIF availability, and all other relevant details.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store 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
    -87.657005
    Latitude
    41.80168

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    FAQs

    What type of property is this?
    Commercial land - 3000 sq ft lot in Chicago's New City neighborhood.
    Where is this commercial land located?
    The property is located at 1248 W 51St St Chicago, IL.
    What is the asking price?
    The asking price for this property is $19,000.
    What are key features of this property?
    This property features: - 3000 sq. ft. property in Chicago's New City.; - Zoned B3-2, allowing for various business and commercial uses.; - Located in close proximity to the 47th/Ashland TIF district with ongoing projects.
    (312) 300-7237
    Request Owner's contact information
    1248 W 51St St Chicago, IL 60609
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    Chicago, IL 60609
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    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
    1248 W 51St St Chicago, IL 60609
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