640 West Washington Blvd Chicago, IL 60661
Property profile & analytics
640 West Washington Blvd Chicago, IL 60661
- Commercial real estate
- 35,667 SF
Property ID
US28-2652799
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- SP+ Parking / Parking Lot & Garage
Property Details for 640 West Washington Blvd
- Property size
- 35,667 SF
- Property type
- Commercial real estate
Description
This exceptional 35,667-square-foot retail property at 640 West Washington Boulevard in Chicago, Illinois, presents a unique investment opportunity. Located at the highly visible intersection of Washington Boulevard and Des Plaines Street, this site boasts unparalleled exposure to over 228,000 vehicles daily, thanks to its proximity to I-90. Its large, rectangular shape is ideal for high-rise development. The property is fully entitled under DX-7 zoning for a substantial mixed-use luxury residential project (rental or for-sale condos), as per Planned Development (PD 1502). Entitlements include 413 residential units, with only 10 designated as affordable housing, significantly less than the current Chicago requirement. This A+ location is steps from Fulton Market, the Central Business District ("The Loop"), and other desirable neighborhoods like River North. The surrounding area boasts an affluent population with an average household income within a one-mile radius of $194,052. The site is conveniently located near numerous amenities, including Randolph Street's "Restaurant Row," Whole Foods and Mariano's, Ogilvie Transportation Center, and the CTA Clinton Station. The fully designed site plans, created by HPA, allow for capturing stunning city views. The absence of a lengthy zoning process further enhances the appeal of this property. Comparable new multifamily buildings in the West Loop/Fulton Market are currently commanding rents exceeding $4.25 per square foot, reflecting strong demand and occupancy. This property offers a rare chance to capitalize on Chicago's thriving real estate market.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6447015
- Latitude
- 41.8833271
