1 E Cermak Road
Land | 0.07 acres
Marketing description
Subject property is a 15,410 square foot development site is available for sale. 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
- 15,410 SF corner development site (drone video of the area)
- 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
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