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    5407 Broadway St Chicago, IL 60640

    Sponsored
    For Sale
    $1,195,000

    Chicago Land: TOD Eligible, B1-3 Zoning

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 7,500 sq ft commercial land parcel, located at 5407 N. Broadway in Chicago's Edgewater neighborhood (APN 14-08-204-010-0000), presents a compelling investment opportunity. Currently zoned B1-3, the property is TOD (Transit-Oriented Development) eligible, offering significant potential for redevelopment. The site boasts a 50' x 150' lot with convenient alley access. Existing zoning allows for the construction of up to 18 residential units above ground-floor commercial space, subject to applicable regulations. The TOD designation provides for potential parking requirement reductions, enhancing the project's feasibility. The property's prime location offers easy access to the Berwyn (approx. 832 feet) and Bryn Mawr (approx. 1192 feet) Red Line CTA stations, fostering strong connectivity. Its proximity to the vibrant Lakewood Balmoral and Andersonville neighborhoods, along with Foster Beach and the Lakefront Trail (a 13-minute walk), adds significant appeal. The asking price is $1,195,000. This presents a rare chance to capitalize on Edgewater's ongoing growth and development, making it an ideal acquisition for both established businesses and forward-thinking developers. The existing building, approximately 7,000 square feet, is a barrel truss structure. This property is a unique blend of existing infrastructure and high redevelopment potential in a rapidly appreciating area.

    Property Features for 5407 Broadway St

    General Information

    Property type
    Land

    HighLights

    • 7,500 sq ft commercial lot at 5407 N. Broadway, Chicago's Edgewater neighborhood (APN 14‑08‑204‑010‑0000).
    • B1‑3 zoning, TOD eligible, allowing for redevelopment.
    • 50' x 150' lot with alley access; potential for up to 18 residential units above ground‑floor commercial space.
    • Prime location near Berwyn & Bryn Mawr Red Line CTA stations.
    • $1,195,000 asking price.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lakeside International Auto Auto Repair Shop

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.65991828
    Latitude
    41.98026415

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    FAQs

    What type of property is this?
    Land - Chicago Land: TOD Eligible, B1-3 Zoning
    Where is this land located?
    The property is located at 5407 Broadway St Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,195,000.
    What are key features of this property?
    This property features: 7,500 sq ft commercial lot at 5407 N. Broadway, Chicago's Edgewater neighborhood (APN 14-08-204-010-0000).; B1-3 zoning, TOD eligible, allowing for redevelopment.; 50' x 150' lot with alley access; potential for up to 18 residential units above ground-floor commercial space.
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    5407 Broadway St Chicago, IL 60640
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    Chicago, IL 60640
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5407 Broadway St Chicago, IL 60640
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