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6114 N Richmond St - Multi-family Development Opportunity 0.28 Acres of Commercial Land Offered at $1,018,500 CAD in Chicago, IL 60659
Investment Highlights
- One block from Peterson Ave which features several national retailers
- Seamless access to major roadways such as Interstate 90/94
- Less than a half-mile from major intersection Peterson & Lincoln.
- Located in the West Ridge Neighborhood which includes excellent rated schools
- Down the street from new 2024 construction Chipotle
Executive Summary
Chicago Zoning District Classification: RT-4
Allowable Uses: Residential Two Flat, Townhouses, & Multiunit.
Maximum Floor Area Ratio of RT-4 Zoning: 1.2.
Allowable Buildable Area above Ground per lot: Area of Lot (4092 sq. ft.) times F.A.R. (1.2) equals 4,910 sq. ft.
Allowable Buildable Area above Ground for total property:
Area of property (12,276 sq. ft.) times F.A.R. (1.2) equals 14,731 sq. ft.
Possible Development for each lot - building above ground:
• Three (3) three-bedroom apartments each 1,636 sq. ft. lo
Possible Development for each lot - building with basement:
• Four (4) three-bedroom apartments each 1,636 sq. ft. lo
Possible Development for total property - building above ground:
• Nine (9) three-bedroom apartments, each 1,636 sq. ft.
Possible Development for total property - building with basement:
• Twelve (12) three-bedroom apartments, each 1,636 sq. ft.
Allowable Maximum Height per RT-4 Zoning: 38 ft.
Minimum Front Yard requirement per RT-4 Zoning: 14.88 ft.
Minimum Rear Yard requirement per RT-4 Zoning: 34.72 ft.
Allowable Uses: Residential Two Flat, Townhouses, & Multiunit.
Maximum Floor Area Ratio of RT-4 Zoning: 1.2.
Allowable Buildable Area above Ground per lot: Area of Lot (4092 sq. ft.) times F.A.R. (1.2) equals 4,910 sq. ft.
Allowable Buildable Area above Ground for total property:
Area of property (12,276 sq. ft.) times F.A.R. (1.2) equals 14,731 sq. ft.
Possible Development for each lot - building above ground:
• Three (3) three-bedroom apartments each 1,636 sq. ft. lo
Possible Development for each lot - building with basement:
• Four (4) three-bedroom apartments each 1,636 sq. ft. lo
Possible Development for total property - building above ground:
• Nine (9) three-bedroom apartments, each 1,636 sq. ft.
Possible Development for total property - building with basement:
• Twelve (12) three-bedroom apartments, each 1,636 sq. ft.
Allowable Maximum Height per RT-4 Zoning: 38 ft.
Minimum Front Yard requirement per RT-4 Zoning: 14.88 ft.
Minimum Rear Yard requirement per RT-4 Zoning: 34.72 ft.
Property Facts
1 Lot Available
Lot
| Price | $1,018,500 CAD | Lot Size | 0.28 AC |
| Price Per AC | $3,614,329.67 CAD |
| Price | $1,018,500 CAD |
| Price Per AC | $3,614,329.67 CAD |
| Lot Size | 0.28 AC |
Three (3) adjacent lots with separate PINs. Dimensions of each lot: 33 ft wide (frontage) by 124 ft long. Area of each lot: 4,092 Sq/Ft Overall dimensions of total property: 99 ft wide (frontage) by 124 ft length Total Property Area: 12,276 Sq/Ft
Description
Existing single-family brick home situated on two of the three total lots.
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Exceptionally walkable
90/100
Fairly drivable
40/100
Some public transit
50/100
Moderately bikeable
70/100
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6114 N Richmond St - Multi-family Development Opportunity
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