Former Ombudsman School | Redevelopment Opportunity

2401 West Congress Parkway Chicago, IL 60612

2401 West Congress Parkway, Chicago, IL, 60612
2401 West Congress Parkway, Chicago, IL, 60612
FOR SALE
Property Type:
Schools/Education
Amount:
$3,150,000
Last Verified:
Oct 02, 2024

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Highlights

  • Newer Roof
  • Great Ceiling Height
  • Excellent Corner Visibility
  • Abundant Parking
  • Additional ±15,000 SF of Basement Space
  • Elevator Building
  • 2 Blocks to the Illinois Medical District
  • Close Proximity to United Center, Grocery and Retail
  • Less Than 1 Block to CTA Blue Line
  • Located Within TOD & TIF Zone
  • Immediate Access to I-290

Description

Discover an exceptional opportunity for Special Purpose/School investors at this impressive property in the heart of Chicago. Boasting a spacious 42,000 SF building with an additional 8,380 SF building (Former Rectory) with newer roof on the larger building and excellent ceiling height. The property offers exceptional visibility on a prominent corner with an abundance of parking and elevator access. Situated just 2 blocks from the Illinois Medical District and in close proximity to the renowned United Center, Cinespace, grocery stores, retail outlets, and the CTA Blue Line, this property is strategically located within a Transit-Oriented Development and Tax Increment Financing district.

Located in the vibrant city of Chicago, the surrounding area of Precious Blood offers a wealth of attractions and amenities for prospective Special Purpose/School and redevelopment investors. The property is situated near the United Center, home of the Chicago Bulls and Blackhawks, providing an exciting entertainment hub for the community. Just a short distance away, the University of Illinois at Chicago offers educational opportunities and a diverse student population. The Illinois Medical District is just 2 blocks from the site. With easy access to public transportation, renowned dining options, and cultural landmarks like the Garfield Park Conservatory, the area presents an appealing blend of urban convenience and local charm for potential investors to consider.

Building Size: 50500sq ft
Lot Size: 0.66 acres

Map of 2401 West Congress Parkway, Chicago, IL, 60612

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.