5165 South Michigan, Chicago IL 60615
- Size 0.19 acres
- Dimensions 52X161
- Taxes $3,012.69
- Payment Estimate View Mortgage Calculator
Property Description
Attention residential developers! Don't miss this exceptional opportunity to acquire a 0.19-acre lot in Chicago's thriving Washington Park neighborhood. Located at 5165 S Michigan Ave, this RM-5 zoned lot offers flexibility for various residential projects in an area experiencing rapid revitalization. With ample space to build an 8-unit residential building or two 4-unit buildings, this site presents a fantastic investment in a neighborhood seeing a surge in new construction. The property's prime location on Michigan Ave places it near key amenities, including Washington Park, Provident Hospital, and major transit routes, making it highly attractive to future residents. Whether you envision a boutique condo development or a rental property, the potential for strong returns is undeniable. With ongoing redevelopment efforts in the area, this lot is perfectly positioned for a profitable project-secure your stake in Washington Park's transformation today!
Features & Information
Key Details
- List Price $250,000
- Property Taxes $3,012.69
- Acreage 0.19
- Lot Dimensions 52X161
- Status Contingent
Schools
- Elementary School District 299
- Junior High District 299
- High School District: 299
Location
- General Information Commuter Bus,Commuter Train,Interstate Access
- County Cook
- Township Hyde Park
- Corporate Limits Chicago
- Directions to Property Drive East On 51st Street To Michigan Ave, Then Drive South To The Land Site.
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Property Taxes
- Tax $3,012.69
- Tax Year 2023
- Parcel Identification Number 20103020130000
Listed by Michael Applegate for Straight-A Realty, LLC | Source: MRED as distributed by MLS GRID
Based on information submitted to the MLS GRID as of 3/31/2025 7:02 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Explore Washington Park
For now Chicago's Washington Park neighborhood may be a predominantly residential south side community with a sprawling public park and rich culture of African-American heritage, however, as the potential site of the Olympic Stadium for the 2016 Summer Games, this modest neighborhood could really make its mark in the near future. Remnants of the last century's architectural movement are found throughout the area, with a wave of new designs and gut rehabs dusting the streets as well. As Olympic talk heightens, developers and city officials are anticipating the impact such a huge event would have on Washington Park. Temporary athlete lodgings and the massive 80,000-seat arena would only be around for a short period, but the hope is that a surge of new businesses would ride in on the coattails of this once-in-a-lifetime opportunity to bolster the Washington Park neighborhood for decades to come. The current commercial base is slight, with a few soul food mainstays and Chinese takeout, but the annual cultural festivals and fun Park District programs keep things on the up as Washington Park awaits an impending transformation of Olympic proportions.
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