Listed by Baum Realty Group
Unpriced
2 Acre Premier Development Opportunity
Details
APN 14-30-404-059-0000, 14-30-404-061-0000
Property Type Land
Sub Type Commercial
Acreage 2.000
Zoning M1-2
Land | 2 acres
Marketing description
Baum Realty Group is Pleased to Bring to Market This Incredibly Unique, Generational Development Opportunity in Lakeview, One of Chicago’s Most Affluent and Desirable North Side Neighborhoods. 1641-1651 W. Diversey Parkway Encompasses a Total of 84,903 Square Feet of M1-2 Zoned Land at the Southeast Quadrant of W. Diversey Parkway and N. Paulina Street (the “property”). The Property is “l” Shaped, With Approximately 265 Feet of Frontage on the South Side of Diversey Parkway and 541 Feet of Frontage on the East Side of Paulina Street. Current Improvements to the Property Include: (I) a Part 2-story and Part 3-story School Building, Formerly the Cardinal Bernardin Montessori Academy, Estimated to Contain Approximately 30,000 Square Feet of Building Area, (Ii) a 77-car Parking Lot to the South of the School Building Along E. Paulina Street, Totaling Approximately 28,000 Sf, and (C) a 3-story Rectory Building Estimated to Contain Approximately 9,500 Square Feet of Building Area Fronting Diversey Parkway With a Small 10-car Parking Lot and Single Story Garage Structure in the Rear. The Property’s Location Within This Particular Pocket of West Lakeview Boasts Extremely High-end Demographics With Some of the Most Luxurious Single-family Homes and Townhomes in All of Chicago Immediately Proximate to the Site. Although the Property Has an Old Manufacturing Zoning, the Neighborhood Has Evolved Dramatically Over the Years and is Now Predominantly Comprised of Upscale Single-family Homes, Townhomes and Mixed-use Buildings.
Investment highlights
- Incredibly Rare Opportunity to Acquire Nearly 2 Acres of Contiguous Land in West Lakeview, Home to Some of Chicago’s Most High-end Demographics
- Blank Slate Development Opportunity With Flexibility and Optionality That Can Be Built in Phases
- Extremely Tight Housing Market With Little Available Supply in This Highly Attractive Neighborhood
- Desirable Prescott Elementary and Lincoln Park High School District
- Seller Will Consider Offers Involving Rezoning for a Premium Price
- Total Building Area (All Properties): ±40,000 Square Feet
- Total Land Area (All Properties): 84,903 Square Feet V
- Frontage: 265 Feet of Frontage Along Diversey Parkway 541 Feet of Frontage Along Paulina Street
Listing Contacts
Listed by Baum Realty Group
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Zoning
M1-2 MixedMixed UseLimited Manufacturing And Business Park District
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View all 86 uses Last updated Apr 28, 2026 For deeper zoning details, reports are available at Zoneomics
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