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    819 Leamington Ave Chicago, IL 60651

    Sponsored
    For Sale
    $1,250,000

    Chicago Commercial Land & Building, 49,546 SF

    Property size:
    49,546 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional Chicago commercial property, located at 819 & 831-847 N. Leamington Avenue in Cook County, IL, presents a unique investment opportunity. The site encompasses approximately 49,546 square feet and includes a substantial existing building and vacant land. The main structure, a former school building, offers approximately 26,886 square feet of space, featuring a gymnasium with high ceilings, a full basketball court, bleachers, generously sized classrooms, and offices. An existing gated parking lot provides approximately 4,500 square feet of secured parking with expansion potential. Adjacent to the building is roughly 27,566 square feet of vacant land zoned RS-3, ideal for redevelopment into a playground, additional parking, or complementary development. The property's zoning is a combination of B3-1 (for the school building and parking lot) and RS-3 (for the vacant land). Situated in Chicago's Austin neighborhood, this property benefits from its location in a densely populated residential area, offering significant potential for various commercial ventures. The asking price for this mixed-use property is $1,250,000. This is a rare chance to acquire a large-scale property with existing infrastructure and significant redevelopment potential in a prime Chicago location. The property's size and zoning flexibility make it suitable for a wide range of uses.

    Property Features for 819 Leamington Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    49,546 SF

    Building Details

    Buildings
    1

    HighLights

    • Exceptional Chicago investment opportunity: 49,546 SF site with existing building and vacant land.
    • 26,886 SF former school building with gym, basketball court, classrooms, and offices.
    • 4,500 SF gated parking lot with expansion potential.
    • 27,566 SF vacant land zoned RS‑3, ideal for redevelopment.
    • Mixed B3‑1 & RS‑3 zoning; $1,250,000 asking price.
    Property Profile Location Intelligence

    Current Use by Public Records

    St Joseph Services ... Park Banner Academy School Evans Electronics Electronics Company

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7541135
    Latitude
    41.8956678

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    FAQs

    What type of property is this?
    Office Property / Space - Chicago Commercial Land & Building, 49,546 SF
    Where is this office property / space located?
    The property is located at 819 Leamington Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: Exceptional Chicago investment opportunity: 49,546 SF site with existing building and vacant land.; 26,886 SF former school building with gym, basketball court, classrooms, and offices.; 4,500 SF gated parking lot with expansion potential.
    Request Owner's contact information
    819 Leamington Ave Chicago, IL 60651
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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
    819 Leamington Ave Chicago, IL 60651
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