5407 Broadway St Chicago, IL 60640
- Land
Current Use by Public Records
- Lakeside International Auto / Chauffeur Service / Mechanic
Property Details for 5407 Broadway St
- Property type
- Land
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6599
- Latitude
- 41.9803
