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    1355 W 16Th St Chicago, IL 60608

    New
    Under Contract
    For Sale
    $259,500

    Land - Chicago, IL

    Days on Market:
    4
    Last Refresh:
    Dec 7 at 5:06 pm

    Property Features for 1355 W 16Th St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    17203040020000

    Building Details

    Architectural style
    Other

    Circle One Realty (630) 862-5181 [email protected]

    Listing agent Ryan Cherney (630) 528-2300 License #471019427

    Listing date Dec 4, 2025

    MLS# 12372696 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

    Pilsen Development Ready Land

    Located in the Pilsen neighborhood, this 110' x 25' lot offers immediate development potential. The site is up-zoned to RM 4.5 and has approved designs and permits for a 3-unit apartment/condo building. There is a potential to develop 4 units. The location provides access to transportation, dining, art galleries, and cultural attractions. Seller financing is available. The property was recently appraised at $1.2 million.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Cult of Osiris Ministry Of Education

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6610981
    Latitude
    41.8595214

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    FAQs

    What type of property is this?
    Residential land & home lot - Shovel-ready Pilsen lot with approved designs and permits.
    Where is this residential land & home lot located?
    The property is located at 1355 W 16Th St Chicago, IL.
    What is the asking price?
    The asking price for this property is $259,500.
    What are key features of this property?
    This property features: - Shovel-ready development site with approved designs and permits for a 3-unit building.; - Up-zoned to RM 4.5, allowing for immediate development.; - Prime Pilsen location with access to transportation, dining, art, and culture.
    (630) 528-2300
    Request Owner's contact information
    1355 W 16Th St Chicago, IL 60608
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    Chicago, IL 60608
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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
    1355 W 16Th St Chicago, IL 60608
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