1800 Union Ave Chicago, IL 60616
Exceptional redevelopment opportunity in Chicago's vibrant South Loop. This unique 40,623 square foot property comprises a three-story former school with a kitchen, a stunning former church boasting soaring ceilings and a large stage, and a substantial parking lot. The buildings sit on a 29,475 square foot lot, zoned RT-4, offering significant potential for various uses. Benefitting from high visibility along the I-90/94 Dan Ryan Expressway, the property enjoys excellent access to major expressways (I-55 and I-290) and public transportation (CTA Orange Line and Metra). Its proximity to the University of Illinois Chicago campus and the Chicago Business District, coupled with its Transit Oriented Development location, makes this a compelling investment. The church features high ceilings, abundant natural light, and multiple exits, while the school building offers ample classroom space. On-site parking is available, and significant signage opportunities exist due to the high-traffic expressway location. Built in 1914, this property presents a rare chance to acquire three assets in a highly desirable area. The asking price is $1,980,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
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