South Commercial Ave Development Sites

8513-8515 & 8516-8540 S Commercial Chicago, IL 60617

8513-8515 & 8516-8540 S Commercial, Chicago, IL, 60617
8513-8515 & 8516-8540 S Commercial, Chicago, IL, 60617 8513-8515 & 8516-8540 S Commercial, Chicago, IL, 60617 8513-8515 & 8516-8540 S Commercial, Chicago, IL, 60617 8513-8515 & 8516-8540 S Commercial, Chicago, IL, 60617 8513-8515 & 8516-8540 S Commercial, Chicago, IL, 60617 8513-8515 & 8516-8540 S Commercial, Chicago, IL, 60617 8513-8515 & 8516-8540 S Commercial, Chicago, IL, 60617 8513-8515 & 8516-8540 S Commercial, Chicago, IL, 60617 8513-8515 & 8516-8540 S Commercial, Chicago, IL, 60617
FOR SALE
Property Type:
Other Land
Amount:
$295,000
Last Verified:
Sep 26, 2021

Highlights

  • Two sites for development
  • C2-2 Motor Vehicle-Related Commercial District
  • 8516-8540 measures 32,794SF with 262' frontage
  • 8513-8515 measures 12,500SF with 100' frontage
  • Large Monument Signage

Description

Located in the heart of the South Chicago community of Hyde Park, Chicago. Perfect sites for retail strip and multi-family development. 8516-8540 Commercial is 0.75AC measuring 262' x 125. 8513-8515 is 0.29AC measuring 100'x125'. C2-2 Zoning provides a multitude of commercial uses.

32,794SF and 12,500SF properties located in the Hyde Park community of South Chicago between 85th and 86th Streets. The dimensions are ~262' x 125'. Both sites are zoned C2-2 Motor Vehicle-Related Commercial District. Shopping centers. Allows more business types than B1 districts, including liquor stores, warehouses, and auto shops. Apartments allowed above the ground floor with a maximum building height of 50' with retail on street level.

Lot Size: 1.04 acres

Map of 8513-8515 & 8516-8540 S Commercial, Chicago, IL, 60617

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.