Listing Agency: Jameson Commercial Real Estate j***@jamesonsir.com Show Phone

Listed By: Jason Hiller · License #IL 475158547

Source: Crexi

Added: Apr 10 Changed: Aug 29 Last Checked: Aug 29 at 7:16PM

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Investment Insights

Based on property information with market context.

This apartment building is configured as six luxury loft condominium residences within the former Northwestern Terra Cotta Company building. The existing improvements create a residential framework that can be repositioned as apartments, townhomes, or a custom 11,800sf (+/-) single-family home.

Additional development concepts include construction above the existing 7-car garage for more units. Alternatively, redevelopment of the structure could create approximately 8,000sf (+/-) of yard space. The property is in Chicago’s Lincoln Park area, a residential setting with tree-lined streets, surrounding parks, restaurants, shops, and everyday conveniences.

Key Highlights

• Existing 6‑unit luxury loft condominium configuration
• Conversion potential to apartments, townhomes, or a custom 11,800sf (+/-) single‑family home
• Potential construction over existing 7‑car garage for additional units

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick HVAC Service Nursing Home (Bike/Boat/Book/etc) Store Bakery Catering Service Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,639

Businesses Nearby

Explore this area Business Placement

Demographics for 60614, IL

73,173

Population

38,089

Households

1.9

Avg Household Size

31

Median Age

86%

College-Educated

98%

High-School Grad

3.2 sq mi

ZIP Area

22,867

Density / Sq Mi

$139,561

Median Household Income

$86,386

Median Earnings

$2,019

Median Rent

$730,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Existing condominium interiors support conversion to apartments, townhomes, or a custom single-family residence.

Where is this apartment building located?

The property is located at 1701-1711 W Terra Cotta Place Chicago, IL.

What are key features of this property?

This property features: Existing 6‑unit luxury loft condominium configuration; Conversion potential to apartments, townhomes, or a custom 11,800sf (+/-) single‑family home; Potential construction over existing 7‑car garage for additional units