2651 W Huron St, Chicago, IL for sale

Investment Overview

Essex Three-Twelve is pleased to exclusively offer 2651 West Huron Street, a fully entitled development site less than a block from 10- acre Smith Park in West Town. The 25 x 75 ft lot has been upzoned to RM-4.5 and carries approved plans and building permits for a four-story, two-unit masonry building designed by Studio RKH: a duplex-down over a lower level and first floor, and a three-level triplex-up crowned by a fourth-floor primary suite and private roof deck. A two-car EV-ready garage carries a rooftop deck. The site is shovel-ready with no demolition required, so a buyer skips rezoning and plan approval. Eight new and boutique condominium sales, every one within a mile of the site, closed at $1,130,000 to $1,700,000, averaging $1,330,625 per unit, including a 2025 two-unit building on Damen that sold out for $2,625,000. The units are projected at $2,370,000, about 9% below the comp-average two-unit value of $2,603,000. Offered at $499,000, about $249,500 per approved unit and 21.1% of projected sellout.