1245 W Washington Blvd Chicago, IL 60607

This 0.74-acre site presents a development opportunity in Chicago’s West Loop neighborhood. The 32,365 square foot land site is currently zoned CX-3 and is likely to receive DX-5 zoning, which would be bonused up to DX-8.1. Positioned in the heart of Chicago, this site is located in one of the city’s most dynamic and rapidly growing neighborhoods. Surrounded by a mix of residential, institutional, and commercial developments, the property is suited for various uses including multifamily, mixed-use, office, or medical. This location is steps from the Restaurant Row on Randolph Street, within walking distance of the Illinois Medical District and University of Illinois at Chicago, and offers access to I-290, I-90, and multiple CTA lines. As one of the few remaining development sites in the core of the West Loop, the property benefits from proximity to major employment centers, dining and cultural destinations, and infrastructure including Union Station and O’Hare International Airport access via the Blue Line. The market anticipates rent growth over the next 24 months and projected to reach 7.6%. New ownership of the site would have the opportunity to develop these standout units in a submarket seeing significant growth.