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    5130-5142 Western Ave Chicago, IL 60625

    Sponsored
    For Sale
    $2,700,000

    17,751 SF Commercial Lot, Chicago

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    398
    This exceptional 17,751 square foot commercial land parcel presents a prime development opportunity in Chicago's vibrant Lincoln Square neighborhood. Located at 5130-5142 N. Western Avenue, this property boasts high visibility with 156 feet of frontage on Western Avenue and a depth of 114 feet, offering excellent building access from the west. The site comprises six contiguous lots, zoned B3-2 & B2-2, providing flexibility for a variety of development projects. Its strategic location offers convenient access to Lake Michigan (Foster Beach), the Brown Line (Western and Lawrence station), and the bustling shops of Lincoln Square and restaurants of Andersonville. The property's Transit-Oriented Development (TOD) eligibility further enhances its appeal, capitalizing on its proximity to public transportation and a densely populated area. Easy access to Lake Shore Drive provides convenient connections throughout the city. APN: 13-12-401-043-0000

    Property Features for 5130-5142 Western Ave

    General Information

    Property type
    Land

    HighLights

    • Transit‑Oriented Development (TOD) Eligible
    • Brown Line proximity
    • Excellent Lake Shore Drive access
    • Abundant retail in Lincoln Square
    • High‑density population area
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -87.68920764
    Latitude
    41.9751722

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    FAQs

    What type of property is this?
    Land - 17,751 SF Commercial Lot, Chicago
    Where is this land located?
    The property is located at 5130-5142 Western Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $2,700,000.
    What are key features of this property?
    This property features: Transit-Oriented Development (TOD) Eligible; Brown Line proximity; Excellent Lake Shore Drive access
    Request Owner's contact information
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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
    5130-5142 Western Ave Chicago, IL 60625
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