Corner Redevelopment Site in West Loop
Land | 18,753 SF with ±56,259 Buildable SF | Subject to Offer
Marketing description
Property Description
The Palace Grill presents a rare opportunity to acquire a corner property encompassing approximately 18,753 SF of land at the prominent intersection of Madison Avenue and Loomis Street. Offered as-is with existing C2-3 zoning, the site features approximately 56,259 SF of buildable area and is ideally suited for residential rental, condominium, mixed-use redevelopment, or an owner-user opportunity. Strategically positioned at the gateway to the United Center and the forthcoming $7 billion 1901 Project, the site is exceptionally well-located for long-term growth on Chicago's Near West Side. Price is subject to offer.
Location Description
Located in the heart of Chicago’s most transformative growth corridor, West Loop has evolved into a premier destination for institutional investment, large-scale development, and best-in-class mixed-use projects. Anchored by the Fulton Market District and surrounded by global headquarters, tech campuses, and award-winning dining, the submarket continues to experience outsized demand driven by strong demographics, limited land availability, and sustained capital inflows. Proximity to downtown, access to major transportation arteries, and a proven track record of successful redevelopments position the West Loop as a high-barrier, high-return environment—making it one of Chicago’s most compelling locations for land and redevelopment opportunities.
Investment highlights
Highlights
The Palace Grill presents a rare, never-before-available opportunity to acquire a corner property in the heart of Chicago's West Loop.
The asset is being offered as-is with its existing C2-3 zoning in place and encompasses approximately 18,753 SF of land at the prominent intersection of Madison Avenue and Loomis Street.
Strategically positioned at the gateway to the United Center and the forthcoming 1901 Project, a transformative $7 billion private investment on Chicago's Near West Side, the site is exceptionally well-located for long-term growth.
The property is ideally suited for residential rental, condominium, mixed-use redevelopment, or an owner-user opportunity in one of the city's most dynamic urban corridors.
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