2328 S Michigan Ave Chicago, IL
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Fully entitled site for up to 256 residential units.
Type:LAND
Lot size:
0.68 Acres- Added:
- Jun 5, 2025
- Days on Market:
- 338
- Last Refresh:
- Apr 5 at 10:54 pm
Property Features for 2328 S Michigan Ave
General Information
- Standard status
- Active
- Lot size
- 0.68 Acres
- Property subtype
- LAND
Listing agent Tom Svoboda (312) 935-1481
Listing office CBRE | Chicago (312) 935-1481
Listing date Jun 5, 2025
Source Moodyscre
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of CBRE | Chicago
HighLights
- 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.
- Excellent accessibility: one half mile to I‑55, 1.6 miles to I‑90, and 3 miles to Lake Shore Drive; steps away from Cermak/McCormick Green Line stop and bus routes on Michigan Avenue.
- Proximity to key attractions: steps away from Wintrust Arena and McCormick Place.
- Flexible development options: Current zoning allows for hotel, medical, drive‑thru QSR, automotive, car dealership, and self‑storage uses.
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.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial land
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6242
- Latitude
- 41.8502
Nearby Similar for Sale
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.
