River North Re-development Opportunity

Investment Overview

Positioned in the heart of River North, 219 W Erie Street offers a 7,500 SF land site with existing DX-5 zoning, allowing for an approximately 37,500 SF development without any zoning relief. Erie Street frontage and two adjoining alleys create three open sides, offering flexibility for building access, light, and air in a future design. The walkable location near dining, retail, employment, and transit supports potential multifamily or hospitality development with street-level retail, subject to a buyer's design and zoning review. The approximately 8,200 SF existing building is the current long- time home of Kozy Bike Shop and was once the home of "Walter Payton's America's Bar". It features a bow-truss roof and skylights that could anchor a distinctive restaurant, retail, gallery, or other adaptive reuse concept. The property sits in a Transit Oriented Development (TOD zone, allowing for substantially decreased or eliminated parking requirements for new residential development. The DX-5 zoning also has a low Minimum Lot Area (MLA) of land required per unit of only 200 SF, which provides for substantial development flexibility.

Investment Highlights

• TWO PATHS FORWARD: Explore new development or adaptive reuse
• 7,500 SF SITE: Approximately 75' of Erie Street frontage
• DISTINCTIVE EXISTING BUILDING: +8,200 SF with a bow-truss roof and skylights
• DX-5 ZONING: 37,500 SF of FAR of right, with bonus density potential of 3.1 could bring the total allowed buildable SF to over 60,000 SF
• TWO ADJOINING ALLEYS: Offering flexibility for site planning and access