2628 S State Street, Chicago, IL, 60616

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$2,500,000
32 Days Online

2628 S State Street
Chicago, IL 60616

For Sale|Land|Active
County:
Cook
Listing Courtesy of MRED as distributed by MLS Grid of Straight-A Realty, LLC 630-288-2446
Call Now: 877 582 4399
Is this the home for you? We can help make it yours.
877 582 4399
2628 S State Street2628 S State Street2628 S State Street2628 S State Street
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We are thrilled to present an unparalleled investment opportunity in Chicago's vibrant South Loop. This expansive 21, 300 sq. ft. corner lot, with an impressive 163' frontage on State Street, is situated in the highly sought-after Douglas neighborhood. Just moments from McCormick Place, IIT College, and downtown Chicago, and with immediate access to I-55, I-94, and Lake Shore Drive, the location is prime for development. Although the Douglas area has seen limited residential development, this plot provides a rare chance to introduce luxury yet affordable residential units in close proximity to the Loop. Envision the potential: 60 upscale apartments at $2, 000 per month could generate a remarkable $120, 000 in monthly revenue. With the average cap rate for the 60616 zip code at 7.68%, this translates to a potential valuation upside of $18, 750, 000. The strategic location, coupled with the burgeoning development of new housing and commercial units nearby, makes this an irresistible prospect for discerning investors. Seize the opportunity to transform this prime parcel into a lucrative development in one of Chicago's most dynamic neighborhoods.

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Listing Snapshot
Price 
$2,500,000
Days Online 
32 Days
Bedrooms 
N/A
Inside Area (SqFt) 
N/A
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
N/A
Year Built 
N/A
MLS® Number 
12091041
Status 
Active
Property Tax 
$36,881
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
4 weeks agoListing updated with changes from the MLS®
a month agoListing first seen online
General Features
Parking Spaces 
0
Acreage 
0
Zoning 
COMMR
General Information 
None
Lot Size 
.50-.99 Acre
Parking Total 
0
Interior Features
Utilities 
Electric to SiteGas to SiteSanitary SewerWater-Community
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Exterior Features
Waterfront Property 
No
Community Features
Township 
Hyde Park
MLS Area 
CHI - Douglas
Schools
School District
219
Elementary School
Unknown
Middle School
Unknown
High School
Unknown
Listing Courtesy of MRED as distributed by MLS Grid of Straight-A Realty, LLC 630-288-2446



Based on information submitted to the MLS GRID as of 2024-07-24 08:25 PM UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Data last updated: 2024-07-24 08:25 PM UTC
MRED DMCA Copyright Information Copyright © 2024 Midwest Real Estate Data LLC. All rights reserved.

Neighborhood & Commute
Source: Walkscore
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