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2328 S Michigan Ave Chicago, IL 60611

For Sale
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Fully entitled site for up to 256 residential units.

Lot size:
0.68 Acres

Property Features for 2328 S Michigan Ave

General Information

Lot size
0.68 Acres

Source: CBRE | Chicago Agent Tom Svoboda

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


Overview

Entitled Site for Residential Units

This property is a fully entitled site suitable for the development of up to 256 residential units. The current project design includes a mix of mid-rise and high-rise buildings, allowing for phased development. The current zoning is PD 1592, with an underlying zoning of DX-5 and a previous zoning of DS-5. The property is located within a qualified Opportunity Zone. Potential highest and best uses include hotel, medical, drive-thru QSR, automotive, car dealership, and self-storage facilities. The site benefits from approximately 170 feet of frontage along Michigan Avenue. Its location offers convenient access, with bus routes along Michigan Avenue and proximity to the Cermak/McCormick Green Line stop. It is one half mile to I-55, 1.6 miles to I-90, and 3 miles to Lake Shore Drive. The property is steps away from Wintrust Arena and McCormick Place. The property is highly accessible and visible, with a previous use as a Burger King with a drive-thru. Traffic counts indicate 7,200 vehicles per day on Michigan Avenue and 137,100 vehicles per day on I-55. The property consists of multiple PIN numbers: 17-27-109-008, 17-27-109-009, 17-27-109-010, 17-2-109-011, 07-27-109-012, and 17-27-109-013.
Insight Report Location Intelligence

Current Use by Public Records

Commercial land

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store 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
-87.6242209
Latitude
41.85023

FAQs

What type of property is this?
Land - Fully entitled site for up to 256 residential units.
Where is this land located?
The property is located at 2328 S Michigan Ave Chicago, IL.
What are key features of this property?
This property features: - Fully entitled site for up to 256 residential units with potential for phased development of mid-rise and high-rise buildings.; - Located in a Qualified Opportunity Zone.; - High visibility with approximately 170 feet of frontage along Michigan Avenue.
More about this property
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