700 S Kedzie Avenue,Chicago, IL 60612
Chicago, IL 60612
Description
**RARE FULL-BLOCK DEVELOPMENT & INVESTMENT OPPORTUNITY - 700-720 S. KEDZIE AVE.** Exceptional opportunity for a developer, investor, nonprofit, institutional user or community-focused development team to control approximately **33,000 SF (.75+ acre) across SIX CONTIGUOUS PARCELS under one ownership**, providing approximately **264 feet of Kedzie Avenue frontage** and the scale, visibility and flexibility increasingly difficult to assemble in Chicago. Zoned **PD 999 (Planned Development)**, this site presents compelling long-term upside for a qualified buyer capable of pairing a strong development concept with City, political and community support. Potential concepts worth investigating include **multifamily or affordable/workforce housing, mixed-income development, senior housing, institutional/educational uses, healthcare, community-serving development or other thoughtfully conceived projects**, subject to zoning and governmental approvals and any required amendment to the existing Planned Development. **THE FINANCIAL OPPORTUNITY IS IN THE SCALE:** nearly 33,000 contiguous SF creates multiple potential paths to value creation through redevelopment, income-producing residential development, institutional use, land banking and potential public/private development partnerships. Qualified purchasers should independently investigate available **TIF, affordable-housing, tax-credit, grant and other City/State economic-development programs** that may potentially improve project feasibility; no incentive or funding is represented or guaranteed by Seller. Importantly, prospective purchasers are encouraged to engage early with **28th Ward Alderman Jason C. Ervin, the City of Chicago and community stakeholders** regarding any proposed redevelopment. Based upon feedback received during prior marketing, **a gas-station concept was not favored**, creating an opportunity for a capable development team to bring forward a stronger neighborhood-serving vision. Strategically positioned just south of Harrison Street, **minutes from I-290/Eisenhower Expressway and Downtown Chicago**, with public-transit connectivity, major Kedzie frontage and the **Chicago Police Department's 11th District station nearby**, the property offers exceptional regional accessibility. Seller understands that maximizing this site's potential requires the **right buyer, capitalization, development plan and community/political relationships** and is prepared to negotiate a fair transaction with a financially capable purchaser positioned to execute. **BRING YOUR ARCHITECT, CAPITAL PARTNERS AND VISION-SELLER IS READY TO REVIEW SERIOUS OFFERS.** Buyer to independently verify zoning, PD requirements, allowable uses, density, utilities, environmental conditions, taxes, incentives and all governmental/community approvals.
Details
| MLS # | 12734518 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 44 |
| Listing Provided By | Straight-A Realty, LLC | Michael Applegate |
Features
| Zoning | PUD |
|---|---|
| Acreage | 0.75 |
Utilities
| Utilities | Electricity Nearby, Natural Gas Nearby, Sewer Nearby |
|---|---|
| Sewer | Storm Sewer |
Taxes
| Tax Year | 2024 |
|---|---|
| Tax Annual Amount | 9591.14 |
Area Information
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60612 |
| Area | CHI East Garfield Park |
| Listing VS Median (in 60612) | |
Price: $1,000,000 low | high Med: $173,968 On site: 44 low | high Med: 197 | |
Market Activity 60612
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Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60612 |
| Area | CHI East Garfield Park |
| Listing VS Median (in 60612) | |
Price: $1,000,000 low | high Med: $173,968 On site: 44 low | high Med: 197 | |
