Value-add Multifamily Redevelopment

Highlights:

• Large Brick Building
• 3 Floors
• Three Car Garage
• Outdoor Space
• Prime East Pilsen Location
• Walking Distance to CTA & Metra
• Easy Access to I-90/94, I-55 & I-290
• 1/2 Mile to 88 Marketplace & Restaurants
• Located in TOD
• 4 Units by Right - Up to 7 W/Zoning Change

Description:

This former convent building offers exceptional potential for various redevelopment opportunities, including multifamily housing, a hostel, a single-family home conversion, or office space. With current zoning you can convert to a 4 unit building or up to 7 units with a zoning change, or redevelop into a single family home. The property features two above-grade floors, each approximately 2,020 square feet, and an additional 2,000 square feet of garden-level space. The rear of the property includes a spacious three-car garage and outdoor area.

The property is situated in a Transit Oriented Development Zone, enhancing its appeal and accessibility.

Located in Chicago's East Pilsen neighborhood, this building boasts a prime location with convenient access to Chicago's Business District and major interstates, including I-90/94, I-55, and I-290. Commuters will appreciate the short walking distance to CTA and Metra stations.

Tenants can take advantage of the nearby amenities, such as spas, grocery stores, restaurants, and art galleries. Additionally, the property is close to the University of Illinois at Chicago (UIC) and the Illinois Medical District, ensuring a consistent rental stream from students and medical personnel.

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