1375 W Lake St Chicago, IL 60607
23,000 SF redevelopment site in Fulton Market neighborhood.
Property Features for 1375 W Lake St
General Information
- Standard status
- Active
Building Details
- Year built
- 1920
Source:
Corcoran
Listing Agency: SPERRY VAN NESS Listing Agent: Wayne Caplan
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Fulton Market Redevelopment Opportunity
Offered for sale is a 23,000 SF redevelopment opportunity in Chicago's Fulton Market neighborhood. The property, located at 1375 W Lake Street, has been the longtime home of "Bottom Lounge", an 18,000 SF hospitality venue specializing in live music with a full-service restaurant kitchen, large bar/restaurant space and a 2nd floor catering facility with a large outdoor deck and parking for 25 cars. The site is currently zoned C1-3 but sits in the "Downtown Expansion-West" area as well as being in a TOD (Transit Oriented Development) zone, both of which allow for increases in density and parking relief for vertical multi-family development. The property is positioned in the midst of many recent and soon-to-come high-rise residential, mixed-use, office, life- science, hotel, etc., properties and is suitable for many different types of re-development. The current ownership is in a position to afford a developer time for re-zoning the property to suit their needs. Additionally, the business (Bottom Lounge), will continue to operate for a period of time and is open to entertaining a short-term sale- leaseback. This is a rare opportunity to acquire a large development site in one of the most sought-after sub-markets in the entire country.
Location Intelligence
Current Use by Public Records
Bottom Lounge
Music Venue
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6617805
- Latitude
- 41.8850681
Nearby Similar for Sale
FAQs
What type of property is this?
Commercial land - 23,000 SF redevelopment site in Fulton Market neighborhood.
Where is this commercial land located?
The property is located at 1375 W Lake St Chicago, IL.
What is the asking price?
The asking price for this property is $9,750,000.
What are key features of this property?
This property features: - **23,000 SF re-development opportunity in Chicago's Fulton Market.**; - Located in "Downtown Expansion-West" and TOD zone, allowing for increased density and parking relief.; - Suitable for various re-development types (residential, mixed-use, office, hotel, etc.).
