4727 S Wabash Ave Chicago, IL 60615

Located within Chicago's revitalized Bronzeville/Grand Boulevard district, this redevelopment site at 4727 S Wabash Avenue offers a unique opportunity. The property includes approximately 8,270 square feet of land and features a single-story masonry building of about 6,135 square feet, originally constructed as a church. The building features a pitched-roof facade and solid masonry shell, opening into a generous sanctuary with high ceilings and rows of pews, creating an impressive open hall suitable for loft-style living space or an auditorium. The property will be delivered vacant, providing developers with a blank canvas for redesign. While there is no on-site parking, street parking is plentiful. The parcel is zoned RT4 (Residential Two-Flat, Townhouse, and Multi-Unit), permitting low-density multi-unit developments that allow roughly one dwelling unit per 1,000 sq ft of lot area. This zoning allows for converting the former church into loft residences or constructing new townhouses or a small apartment building. Institutional and community uses are also possible through special-use approval, offering nonprofit organizations the chance to repurpose the existing sanctuary and classrooms for programs, education, or cultural arts. The site is located within a Federal Opportunity Zone, allowing investors to defer and potentially eliminate capital gains taxes. It is also eligible for the Neighborhood Opportunity Fund and sits near the 47th/King Drive TIF district. The property is blocks from the CTA Green Line 47th station and within a half-mile of the CTA Red Line 47th station, offering convenient access to downtown Chicago and the Loop. Major bus routes on 47th Street, King Drive, and State Street supplement rail service, while the Dan Ryan Expressway (I-90/94) and Lake Shore Drive are nearby. The Grand Boulevard area's population increased between 2010 and 2020. New retail and grocery options have opened on nearby streets, and the City's Invest South/West initiative is re-energizing commercial corridors along 43rd and 47th Streets. This property offers a generous lot and adaptable interior for a wide range of uses, from loft apartments or townhomes to a community arts center or educational facility.