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    3615 Hoyne Ave Chicago, IL 60609

    For Sale
    $1,995,000

    Historic McKinley Park campus, 53,000 sq ft

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional investment opportunity presents a unique chance to redevelop a significant historic property in Chicago's McKinley Park neighborhood. The property, located at 3615 S Hoyne Avenue, encompasses a substantial 53,000 square foot parcel and includes multiple buildings: a Gothic-style church (circa 1936, 8,500 sq ft of column-free worship space and partial basement), a two-story rectory (circa 1918, 6,800+ sq ft, requiring extensive rehabilitation and featuring attached garage parking), a one-story social center (nearly 5,200 sq ft), and a two-story school building (circa 1954, 12,800 sq ft, currently leased to CPS as a daycare). A double vacant lot (49x125 ft) is also included, currently used for parking. The property's dimensions are 374x154x84x28x291x125 ft, potentially comprising 17 standard city lots with multiple addresses and PINs. Its prime location offers easy access to public transportation (Orange Line and Archer Avenue), shopping, medical facilities, McKinley Park's recreational amenities, and highly-rated schools. This presents an ideal opportunity for developers seeking a large-scale project with significant potential to benefit the community. The asking price is $1,995,000.

    Property Features for 3615 Hoyne Ave

    General Information

    Property type
    Land

    HighLights

    • $1,995,000 asking price for a 53,000 sq ft land parcel.
    • Located in Chicago's McKinley Park neighborhood at 3615 S Hoyne Avenue.
    • Includes a former church (8,500 sq ft), rectory (6,800+ sq ft), social center (5,200 sq ft), and school building (12,800 sq ft) currently leased to CPS.
    • Also includes a double vacant lot totaling approximately 53,000 sq ft.
    • Excellent location near public transportation, shopping, and recreational facilities.
    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 Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6773011
    Latitude
    41.828094

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    FAQs

    What type of property is this?
    Land - Historic McKinley Park campus, 53,000 sq ft
    Where is this land located?
    The property is located at 3615 Hoyne Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,995,000.
    What are key features of this property?
    This property features: $1,995,000 asking price for a 53,000 sq ft land parcel.; Located in Chicago's McKinley Park neighborhood at 3615 S Hoyne Avenue.; Includes a former church (8,500 sq ft), rectory (6,800+ sq ft), social center (5,200 sq ft), and school building (12,800 sq ft) currently leased to CPS.
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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
    3615 Hoyne Ave Chicago, IL 60609
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