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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

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.

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
Sale Type Investment
Sale Conditions Development Sale
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Commercial
  • Retail
  • Mixed Use
  • Apartment Units
  • Apartment Units - Dorms
  • Auto Dealership
  • Bank
  • Bowling Alley
  • Hospital
  • Hotel
  • Medical
  • Parking Lot
  • Restaurant
  • Storefront, Retail or Residential
Total Lot Size 0.58 AC
Opportunity Zone Yes

1 Lot Available

Lot

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".

Walk Score ®
Very Walkable (72)
Bike Score ®
Very Bikeable (72)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
20-02-311-001-0000
Land Assessment
£49,782 (2024)
Improvements Assessment
£0 (2024)
Total Assessment
£49,782 (2024)
Annual Taxes
£4,568
Tax Year
2021

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.)
  • Listing ID: 26166799

  • Date on Market: 14/07/2022

  • Last Updated:

  • Address: Cottage Grove, Chicago, IL 60653

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