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    2139-59 West Pershing Rd Chicago, IL 60609

    For Sale
    $5,900,000

    Development opportunity with approved plans for 159 residential units.

    Property size:
    320,000 SF

    Property Features for 2139-59 West Pershing Rd

    General Information

    Size
    320,000 SF

    Source: Chad Schroedl Agent Chad Schroedl

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Lofts Development Opportunity

    This is an opportunity to develop two historic concrete loft buildings located directly across from McKinley Park on Pershing Road. The property has approved planned development for 159 residential units and commercial spaces. McKinley Park is located on Chicago’s southwest side and has a rich industrial legacy. It was the nation’s first planned industrial district. Adaptive reuse projects have transformed some of these historic spaces into modern lofts, offices, and commercial centers. The McKinley Park submarket boasts connectivity to major transportation hubs and is close to railways, highways, and the Chicago “L” system. The mix of large adaptive reuse buildings and smaller commercial units caters to a variety of business needs, from high-tech manufacturing and warehousing to retail, offices, and residential conversions. The area promotes a live-work-play community. The property is minutes from downtown with access to I-55 and I-90/94 and walking distance to the CTA Orange Line. It is located steps from the city of Chicago’s $121M mixed-use development at 1769 W Pershing. Seller financing is available.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6791375
    Latitude
    41.8226842

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    FAQs

    What type of property is this?
    Commercial land - Development opportunity with approved plans for 159 residential units.
    Where is this commercial land located?
    The property is located at 2139-59 West Pershing Rd Chicago, IL.
    What is the asking price?
    The asking price for this property is $5,900,000.
    What are key features of this property?
    This property features: - Approved planned development for **159 residential units and commercial spaces**.; - Seller Financing Available.; - Located directly across from McKinley Park.
    (619) 818-3480
    Request Owner's contact information
    2139-59 West Pershing Rd Chicago, IL 60609
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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
    2139-59 West Pershing Rd Chicago, IL 60609
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