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Cottage Grove - 4501 South Cottage Grove Avenue
0.58 Acres of Commercial Land Offered at £1,184,225 in Chicago, IL 60653
Investment Highlights
- Premier Corner Vacant Lot
- Surrounded by State & Federal Businesses
- Minutes from Chicago Downtown & Lake
Executive Summary
For technology companies, the land's strategic location in the heart of Bronzeville offers easy access to a highly educated and diverse workforce, as well as proximity to leading research institutions and top-notch talent. Additionally, the area's thriving arts and culture scene, as well as its growing reputation as a hub for innovation, make it an attractive destination for tech startups looking to establish a presence in the area.
Retail companies can take advantage of the land's prime location on a bustling commercial corridor, with excellent visibility and foot traffic. The site's expansive size offers ample space for large-scale retail operations, as well as potential for mixed-use development that could include residential and office components to create a dynamic and thriving community.
For medical companies, the land's proximity to world-class hospitals and medical facilities, including the University of Chicago Medical Center, make it an ideal location for healthcare providers and medical research institutions. The site's large size and flexible zoning offer endless possibilities for customized development that can meet the specific needs of medical companies.
Overall, this commercial land for sale on 4501 S Cottage Grove in Bronzeville presents a unique opportunity for companies in the technology, retail, or medical fields to establish a strategic presence in one of Chicago's most vibrant and dynamic neighborhoods. With its prime location, ample space, and endless potential, this site is sure to attract interest from a wide range of businesses seeking to capitalize on the area's many strengths.
The B1-5 zoning classification for your commercial land on 4501 S Cottage Grove in Bronzeville offers a versatile range of commercial uses, including retail, service, and professional businesses. The maximum height allowed under this classification is 60 feet and the floor area ratio can be up to 2.2, which offers ample space for large-scale development without detracting from the surrounding neighborhood's character. With a variety of permitted uses, including banks, restaurants, retail stores, offices, and medical clinics, B1-5 zoning provides a flexible framework that can accommodate the needs of any business looking to establish a presence in Bronzeville. This zoning classification ensures that any development on the site complies with local regulations and maintains the area's integrity and character. Overall, the B1-5 zoning classification for your commercial land provides a solid foundation for creative and customized development, making it an ideal location for businesses in the technology, retail, or medical fields.
Financial Summary (Actual - 2021) |
Annual | Annual Per AC |
---|---|---|
Taxes | £4,568 | £7,884.55 |
Operating Expenses | - | - |
Total Expenses | £4,568 | £7,884.55 |
Financial Summary (Actual - 2021)
Taxes | |
---|---|
Annual | £4,568 |
Annual Per AC | £7,884.55 |
Operating Expenses | |
---|---|
Annual | - |
Annual Per AC | - |
Total Expenses | |
---|---|
Annual | £4,568 |
Annual Per AC | £7,884.55 |
Property Facts
Price | £1,184,225 | Property Subtype | Commercial |
Sale Type | Investment | Proposed Use | |
Sale Conditions | Development Sale | Total Lot Size | 0.58 AC |
No. Lots | 1 | Opportunity Zone |
Yes
|
Property Type | Land |
Price | £1,184,225 |
Sale Type | Investment |
Sale Conditions | Development Sale |
No. Lots | 1 |
Property Type | Land |
Property Subtype | Commercial |
Proposed Use | |
Total Lot Size | 0.58 AC |
Opportunity Zone |
Yes |
1 Lot Available
Lot
Price | £1,184,225 | Lot Size | 0.58 AC |
Price Per AC | £2,043,938 |
Price | £1,184,225 |
Price Per AC | £2,043,938 |
Lot Size | 0.58 AC |
This premier corner vacant commercial parcel is situated in a prime location surrounded by new residential development, zoned (B1-5) in a planned development district. 4501 South Cottage Grove is appx. 168.25x150, Lot Square Footage: 25238.
Description
Located in the vibrant Bronzeville neighborhood, this expansive 25,238 sqft commercial land offers a prime opportunity for companies in the technology, retail, or medical fields. For technology companies, the land's strategic location in the heart of Bronzeville offers easy access to a highly educated and diverse workforce, as well as proximity to leading research institutions and top-notch talent. Additionally, the area's thriving arts and culture scene, as well as its growing reputation as a hub for innovation, make it an attractive destination for tech startups looking to establish a presence in the area. Retail companies can take advantage of the land's prime location on a bustling commercial corridor, with excellent visibility and foot traffic. The site's expansive size offers ample space for large-scale retail operations, as well as potential for mixed-use development that could include residential and office components to create a dynamic and thriving community. For medical companies, the land's proximity to world-class hospitals and medical facilities, including the University of Chicago Medical Center, make it an ideal location for healthcare providers and medical research institutions. The site's large size and flexible zoning offer endless possibilities for customized development that can meet the specific needs of medical companies. Overall, this commercial land for sale on 4501 S Cottage Grove in Bronzeville presents a unique opportunity for companies in the technology, retail, or medical fields to establish a strategic presence in one of Chicago's most vibrant and dynamic neighborhoods. With its prime location, ample space, and endless potential, this site is sure to attract interest from a wide range of businesses seeking to capitalize on the area's many strengths. The B1-5 zoning classification for your commercial land on 4501 S Cottage Grove in Bronzeville offers a versatile range of commercial uses, including retail, service, and professional businesses. The maximum height allowed under this classification is 60 feet and the floor area ratio can be up to 2.2, which offers ample space for large-scale development without detracting from the surrounding neighborhood's character. With a variety of permitted uses, including banks, restaurants, retail stores, offices, and medical clinics, B1-5 zoning provides a flexible framework that can accommodate the needs of any business looking to establish a presence in Bronzeville. This zoning classification ensures that any development on the site complies with local regulations and maintains the area's integrity and character. Overall, the B1-5 zoning classification for your commercial land provides a solid foundation for creative and customized development, making it an ideal location for businesses in the technology, retail, or medical fields. Excellent opportunity to capitalize on future development in a robust market with strong economic growth and increasing demand in Bronzeville. 4501 South Cottage Grove is appx. 168.25x150, Lot Square Footage: 25238, this property is being sold "as-is".
PROPERTY TAXES
Parcel Number | 20-02-311-001-0000 | Total Assessment | £49,782 (2024) |
Land Assessment | £49,782 (2024) | Annual Taxes | £4,568 |
Improvements Assessment | £0 (2024) | Tax Year | 2021 |
PROPERTY TAXES
zoning
Zoning Code | B1-5 (B1-5 zoning allows versatile commercial use, 60ft height, 2.2 FAR, and flexible development. Ideal for tech, retail, or medical businesses.) |
B1-5 (B1-5 zoning allows versatile commercial use, 60ft height, 2.2 FAR, and flexible development. Ideal for tech, retail, or medical businesses.) |
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Cottage Grove - 4501 South Cottage Grove Avenue
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