4727 S Wabash Ave Chicago, IL 60615

Located in Chicago's Bronzeville/Grand Boulevard district, this redevelopment site at 4727 S Wabash Avenue features approximately 8,270 square feet of land. The property includes a single-story masonry building of approximately 6,135 square feet, originally constructed as a church. The building features a pitched roof facade and a solid masonry shell, opening into a sanctuary with high ceilings and rows of pews. The property will be delivered vacant, offering developers a blank canvas for redesign. The parcel is zoned RT4 (Residential TwoFlat, Townhouse and MultiUnit), permitting low-density multiunit developments. This zoning allows roughly one dwelling unit per 1,000 sq ft of lot area, making it feasible to convert the former church into loft residences or construct new townhouses or a small apartment building. Institutional and community uses are also possible through special-use approval. 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 is near the 47th/King Drive TIF district. The property is located blocks from the CTA Green Line 47th station and within a half-mile of the CTA Red Line 47th station. Major bus routes on 47th Street, King Drive, and State Street supplement rail service, while the Dan Ryan Expressway (I90/94) 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, while the City's Invest South/West initiative is re-energizing commercial corridors along 43rd and 47th Streets. The generous lot and adaptable interior allow for a wide range of uses, from loft apartments or townhomes to a community arts center or educational facility.