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2156 W Wellington Avenue, Chicago, IL 60618

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For Sale

$1,500,000

Estimated Payment

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APR for 30 years

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DEVELOPER ALERT! --PLANS INCLUDED!-- Prime Roscoe Village location on a [70' X 120'] corner lot with recent City of Chicago Zoning approved plans for a New Construction, 4-duplex unit, 3-story residential building, with two 3-car garages off the 16' rear alley. The plan allows for (4) 2930 sqft units (inclusive of lower levels), with both above garage and above 3rd floor penthouse roof decks. Re-zoned to RT-3.5 with plans, a FAR of 1.05, a 3 story building height of 38'-6" plus parapet & walkout 'dog house' rooftop deck access. The plan highlights include, generous front and side yard setbacks, unobstructed natural light on all sides, room for onsite outdoor kids play area, and private dog run. Interior features four 4 bedroom, 2 full and 2 half bath units, each with large open combination living, dining, recreation layouts and huge 23' x 22' covered rear private deck spaces. Additionally, each unit would have its own above garage or above 3rd level private rooftop deck space. SEE ADDITIONAL DOCUMENTS FOR PLAN details. Option 2: Redevelop 2 or 3 new SFH's on the 3 separate lots. Hamlin Park, is less than 2 blocks east, with tennis & basketball courts, baseball diamonds, a dog run, and outdoor pool making this an owners dream location. Additionally, the Roscoe Village Riverfront expansion with recently added boat launch, and river walk coming soon makes this spot even more appealing. At present there is an existing 1-story structure on the site, currently rented as a live/work space, with 11 bedrooms, 4 large baths, long term punctual tenants on a month-to-month lease, paying $8130/mo. plus utilities with an annual NOI: $65,639. Rent is set to increase to $8335/mo on 6/1/24.
MLS# 12015831

Courtesy Of Kale Realty

(312) 939-5253

Property Features

  • Architecture Style
    Other
  • Cooling System
    Central A/C, Partial
  • Heating Fuel
    Natural Gas
  • Roof Type
    Unknown

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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