Listed by Millennium Properties R/E
$1,500,000
1 E Cermak Road
Details
Property Type Land
Sub Type Commercial, Development Site
Lot Size (SqFt) 15,410
Zoning DX-5, Michigan/Cermak TIF
Land | 15,410 SqFt
Marketing description
1 E. Cermak Road is a 15,410 square foot development site is available for sale via sealed bid auction. This site is located in an Opportunity Zone. Under its current zoning, the property could be developed as retail, a mixed-use TOD building, an office and more. The site is close to the 62-acre riverfront development known as “The 78”, which is now planned to be developed as a soccer stadium for the Chicago Fire, it is possible that an intermediate use would be parking. McCormick Place, Wintrust Arena, historic Motor Row, Chinatown and a several new and exciting developments and rehabs.
The South Loop is a very desirable area for a residents and businesses alike. Since the addition of the Cermak Green Line station, this area has seen significant development including hotels, offices, bars, restaurants and more.
Investment highlights
- Auction - September 18, 2025
- 15,410 SF corner development site
- Adjacent to Cermak Green Line and Southbridge with 877 homes and 60,000 SF of retail
- Located in Opportunity Zone
- Potential for mixed-use TOD, retail, or office development
- Current zoning allows for 82 units with an average size of 667 SF with the possibility to develop 121 units with an average size unit of 760 SF
- Close to McCormick Place, Wintrust Arena, historic Motor Row and new Chicago Fire Stadium
- Abundance of new development in area
- Traffic Count: 13,200 vehicles daily on Cermak
- Zoning: DX-5, Michigan/Cermak TIF
- Total Taxes (2023): $24,465.38
Listing Contacts
Listed by Millennium Properties R/E
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