Avondale Development Opportunity: 3.28
3278 N Milwaukee Avenue, Chicago, IL 60618
For Sale
$18,000,000
3.28 acre site suitable for mixed-use development in Avondale.
Property SizeContact for details
Days on Market485
Property Features for 3278 N Milwaukee Avenue
General Information
Standard status
Property subtype
Site & Location
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Taxes and HOA fees
Annual Taxes
Listing Agency:
Strauss Realty Ltd
(773) 736-3600
Listed By:
Adam Schneiderman · License IL #475149601
(847) 826-4467
Source:
Exitrealty
Added: Jul 18, 2025
Changed: Nov 12
Last Checked: Nov 12 at 5:31AM
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 Strauss Realty Ltd
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Investment Insights
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This is a 3.28-acre parcel in Avondale, bordered by Pulaski Road, Belmont Avenue, and Milwaukee Avenue. The site is suited for a higher-density, mixed-use development that could include residential units, a grocery store, restaurants, bars, entertainment venues, or a lifestyle center with community-focused retail. Formerly home to industrial buildings, small businesses, and auto-related uses, the site is now largely vacant. Zoning changes to allow for four- to five-story buildings have been supported. There is strong community support for redevelopment, with the shared goal of transforming the "Belmont Triangle" into a vibrant, mixed-use destination. A 2022 survey revealed that most respondents access the site by walking or driving, and expressed strong interest in open spaces along with dining and retail options. In 2022, the Department of Planning and Redevelopment designed three schemes. The site offers accessibility and exposure, with easy access to transportation including I-90/94, the Belmont Blue Line station, and the Irving Park Metra station. The surrounding neighborhood features a mix of community assets such as schools, churches, and a range of active retail establishments. Nearby tenants include Las Islas Marias, Walgreen's, CVS, HR Block, BP Gas, ATT Store, McDonald's, PNC Bank, shops, laundry and dining. The population within 1 mile is 44,014 with 17,021 households and average household income of $97,116. Development incentives include eTOD, NOF, TIF, LIHTC, federal subsidies grants and loans, Cook County Tax Incentives for Class 7A, 7B and L properties.
Key Highlights
- Prime 3.28‑acre development site suitable for a high‑density, mixed‑use project in the heart of Avondale.
- Strong community support and previous alderman approval for zoning changes allowing 4‑5 story buildings.
- Excellent accessibility and exposure with high traffic counts and proximity to I‑90/94, Belmont Blue Line, and Irving Park Metra station.
Property Analytics
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Location Intelligence
Trade Area within ½ mile
1,459
Businesses Nearby
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Business Placement
Demographics for 60618, IL
90,316
Population
41,053
Households
2.2
Avg Household Size
35
Median Age
55%
College-Educated
89%
High-School Grad
5.0 sq mi
ZIP Area
18,063
Density / Sq Mi
$101,558
Median Household Income
$60,263
Median Earnings
$1,534
Median Rent
$538,300
Median Home Value
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Market
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Frequently Asked Questions
What type of property is this?
Commercial land - 3.28 acre site suitable for mixed-use development in Avondale.
Where is this commercial land located?
The property is located at 3278 N Milwaukee Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $18,000,000.
What are key features of this property?
This property features: Prime 3.28‑acre development site suitable for a high‑density, mixed‑use project in the heart of Avondale.; Strong community support and previous alderman approval for zoning changes allowing 4‑5 story buildings.; Excellent accessibility and exposure with high traffic counts and proximity to I‑90/94, Belmont Blue Line, and Irving Park Metra station.
