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$ 1,950,000
Est. payment /mo
Price Dropped by $650K
1233 S Wabash Avenue Chicago, IL 60605
9,975 SqFt
UPDATED:
12/13/2024 10:58 PM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 9,975 sqft
Price per Sqft $195
MLS Listing ID 12185504
Year Built 1910
Annual Tax Amount $23,667
Tax Year 2023
Lot Dimensions PER SURVEY
Property Description
This value-add historic bar/restaurant property at the high-traffic Wabash and Roosevelt intersection offers significant potential with air rights and DX-7 zoning. LARGE price correction was made to bring all considerable offers to the table. Located in the vibrant South Loop/Museum Campus area, it's within walking distance to Grant Park, Soldier Field, museums, and Millennium Park's iconic "Bean." The location is easily accessible, with an L stop one block away and grocery stores (Jewel-Osco, Trader Joe's) across the street. Formerly the "Wabash Tap" and Koko Taylor's blues club, the 4,275 SF ground floor features a second-generation bar/restaurant space with substantial infrastructure for a new operator. The upper floors can be converted into apartments or office space. Zoned DX-7, the property allows for up to +/- 30,000 buildable SF, with potential for residential, mixed-use, hotel, office, or retail/restaurant development. Situated in a Transit-Oriented Development (TOD) area, it benefits from reduced parking requirements and is just one block from the Roosevelt CTA station, which serves 3.8 million riders annually. The property is available for sale, with ground floor and upper floors also available for your ideas to begin work on immediately. Contact today before its gone!
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling Central Individual
Fireplace N
Exterior
View Y/N true
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Wendy Kiang • Baird & Warner