Essex Realty Group, Inc. has been exclusively retained to market for sale 643 W. 18th Street, a parcel of land located in the heart of the Pilsen neighborhood of Chicago. In recent years, Pilsen has become one of the most sought-after neighborhoods by investors and developers primarily due to being an extremely low-density market with proximity to downtown and the area’s dynamic fundamentals, including a thriving artist community.
The land which was recently a distressed mixed-use property has been owned by the same family for generations. The building was very recently demolished leaving this approximately 2,525 SF lot, with RT-4 Zoning, ready for a new owner to come in and develop a building in an ever-growing market. RT-4 Zoning permits the construction of two-flats, townhouses, low-density apartment buildings, and single-family homes.
This property may be packaged as a portfolio sale with the adjacent property that is separately listed for sale at 645 W. 18th Street. An investor has an extremely rare opportunity to acquire a parcel of land in an area that has undergone tremendous growth and development.
Pilsen is a culturally rich neighborhood situated roughly 3.5 miles southwest of Chicago’s Loop. The neighborhood of Pilsen features a diverse population mix including families, creative professionals, business professionals, medical students, and grad students. 18th Street is a bustling retail corridor that is home to many local cafes, coffee shops, bodegas, and restaurants. While Pilsen has a strong cultural presence filled with many local restaurants, several Chicago restaurant chains as well as critically acclaimed new chefs have opened up restaurants in recent years.
The property is also situated approx. less than a mile from Thalia Hall, a historic landmark and neighborhood cultural arts and events center as well as a concert hall. Thalia Hall is a prime example of the ever-growing art community that Pilsen is.
Not only are residents extremely close to downtown Chicago but they are also just west of McCormick Place, the largest convention center in North America. The property’s convenient location makes commuting around the city quite easy. The Subject Property is four blocks from the Halsted Metra Station, and in proximity to numerous bus stops.
- Attractive Pilsen Location
- Family Owned for Generations
- 25' X 101' Lot
- RT-4 Zoning
- Opportunity to be Purchased Individually or as a Portfolio with 645 W. 18th St.