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    1606 S Drake Ave Chicago, IL 60623

    Under Contract
    For Sale
    Contact for pricing

    Land - Chicago, IL

    Days on Market:
    21
    Last Refresh:
    Dec 7 at 6:06 am

    Property Features for 1606 S Drake Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    16234000480000

    Building Details

    Architectural style
    Other

    Exit Strategy Realty (312) 493-0920 [email protected]

    Listing agent Tabren Smith (312) 554-5478 License #475194178

    Listing date Nov 17, 2025

    MLS# 12505730 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

    North Lawndale Land Opportunity

    This RT-4 zoned land lot in North Lawndale presents an opportunity for residential or multi-unit development. The property is situated just off a major street, offering visibility and accessibility while maintaining neighborhood charm. A rear alley provides convenient access for parking or future garage construction. The location is near public transportation, parks, and schools, and is just minutes from downtown Chicago.
    Property Profile 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
    -87.7143357
    Latitude
    41.8587234

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    FAQs

    What type of property is this?
    Land - RT-4 zoned land lot ready for development in Chicago.
    Where is this land located?
    The property is located at 1606 S Drake Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $18,000.
    What are key features of this property?
    This property features: - RT-4 zoning allows for residential or multi-unit development.; - Excellent location near public transportation, parks, and schools.; - Convenient access to downtown Chicago.
    (312) 554-5478
    Request Owner's contact information
    1606 S Drake Ave Chicago, IL 60623
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    Chicago, IL 60623
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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
    1606 S Drake Ave Chicago, IL 60623
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