1430 N Wood St, Chicago, IL for sale

Investment Overview

1428-30 N Wood Street consists of two potential development parcels totaling 4,675 SF, just off Milwaukee Avenue, three blocks from the Damen Blue Line CTA Station. RM-5 zoning allows for 2.0 FAR construction and 9,350 buildable SF. Frontage is 50' with an average depth of 93.5'. Priced at $155 per Buildable SF a 17.5% discount to comparable land sales averaging $188 per Buildable SF. 1430 N Wood St must be sold with 1428 N Wood St. 1428 N Wood may be acquired separately.

Investment Highlights

• RM-5 Zoning allows for the construction of up to 11 units totaling 9,350 buildable SF.
• Existing 3-Flat provides $34,000 of interim net operating income during architecture and permitting.
• Hanna Architects produced a massing study in 2018 for the construction of six large units on site.
• List price reflects $155 per Buildable SF, a 17.5% discount to comparable land sales.