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    3246 S Wells St Chicago, IL 60616

    For Sale
    $290,000

    Land - Chicago, IL

    Days on Market:
    160
    Last Refresh:
    Dec 7 at 3:06 am

    Property Features for 3246 S Wells St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    17332100450000

    Building Details

    Architectural style
    Other

    Jameson Real Estate LLC (312) 335-3291 [email protected]

    Listing agent Natalie Ruffolo (312) 751-0300 License #475182822

    Listing date Jul 1, 2025

    MLS# 12312836 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

    Armour Square Land Opportunity

    Located in Armour Square at 3246 S. Wells Street, this property is situated on a highly sought-after block. The R4-zoned lot presents a development or investment opportunity in one of Chicago's established and centrally located neighborhoods. It is located just blocks from Guaranteed Rate Field. The location provides easy access to major intersections, expressways, and public transportation facilitating movement around the city. Armour Square Park, offering green space, sports fields, and recreational facilities, is located down the block. Armour Square is known for its historic character, proximity to downtown, and strong sense of community.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.633159
    Latitude
    41.835004

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    FAQs

    What type of property is this?
    Land - R4-zoned lot in established Chicago neighborhood, near Guaranteed Rate Field.
    Where is this land located?
    The property is located at 3246 S Wells St Chicago, IL.
    What is the asking price?
    The asking price for this property is $290,000.
    What are key features of this property?
    This property features: - Prime location in highly sought-after Armour Square block.; - R4 zoning offers development/investment opportunity.; - Easy access to major intersections, expressways, and public transportation.
    (312) 751-0300
    Request Owner's contact information
    3246 S Wells St Chicago, IL 60616
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    Chicago, IL 60616
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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
    3246 S Wells St Chicago, IL 60616
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