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    2943 W Monroe St Chicago, IL 60612

    For Sale
    $469,999

    Land suitable for commercial and residential development in Chicago.

    Lot size:
    0.44 Acres

    Property Features for 2943 W Monroe St

    General Information

    Lot size
    0.44 Acres

    Source: Sotheby's - Jameson | Lincoln Park Agent Brendan Murphy

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

    Overview

    Land in Revitalizing East Garfield

    This property is located 1.4 miles from the 1901 Development. Zoned C1-1, the site is suitable for both commercial and residential development. The location provides access to public transportation and is near a range of amenities. The property is situated in East Garfield Park, which is undergoing revitalization, presenting an opportunity for investment.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    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
    -87.7000907
    Latitude
    41.8802477

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    FAQs

    What type of property is this?
    Land - Land suitable for commercial and residential development in Chicago.
    Where is this land located?
    The property is located at 2943 W Monroe St Chicago, IL.
    What is the asking price?
    The asking price for this property is $469,999.
    What are key features of this property?
    This property features: - Excellent potential for mixed-use investment due to C1-1 zoning.; - Located 1.4 miles from the transformative 1901 Development.; - Strategic opportunity to capitalize on rapid revitalization in East Garfield Park.
    (708) 703-0908
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    Chicago, IL 60612
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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
    2943 W Monroe St Chicago, IL 60612
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