Listing Agency: CBRE | Chicago t***@cbre.com Show Phone

Listed By: Tom Svoboda Show Phone

Source: Cbre

Added: Mar 25 Changed: Aug 8 Last Checked: Jul 16 at 3:30AM

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Investment Insights

Based on property information with market context.

This is a 30,492 square foot site located along Michigan Avenue. The fully entitled site allows for the construction of up to 256 residential units. The current project plans include a mix of mid-rise and high-rise buildings, with the possibility of 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.

Key Highlights

• Fully entitled site for up to 256 residential units
• Located along Michigan Avenue
• Current project calls for a mix of mid‑rise and high‑rise buildings

Property Analytics

Property Profile

Current Use

Residential land & home ...

Suggested Use

Top Pick Building Supply Auto Parts Store HVAC Service Carpet & Flooring Store Garden Center Law Firm

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

3,275

Businesses Nearby

Explore this area Business Placement

Demographics for 60616, IL

54,013

Population

26,912

Households

2

Avg Household Size

38

Median Age

53%

College-Educated

86%

High-School Grad

3.8 sq mi

ZIP Area

14,214

Density / Sq Mi

$77,841

Median Household Income

$53,415

Median Earnings

$1,329

Median Rent

$387,300

Median Home Value

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Frequently Asked Questions

What type of property is this?

Residential land & home lot - 30,000 SF site entitled for 256 residential units.

Where is this residential land & home lot located?

The property is located at 2328 South Michigan Ave Chicago, IL.

What are key features of this property?

This property features: Fully entitled site for up to 256 residential units; Located along Michigan Avenue; Current project calls for a mix of mid‑rise and high‑rise buildings