Wicker Park Redevelopment Opportunity

2155 West Pierce Avenue


Chicago, IL

Main

Year Built: 1914

Land Area: 14700 Sqft.

Status: Available








Property Type

Multifamily Redevelopment

Location

Wicker Park

Wicker Park Redevelopment Opportunity


Built in the historic district of **Wicker Park**, this 1914 vintage building offers developers an incredibly _**unique opportunity**_ to create new residential living in one of the *hottest submarkets* in Chicago. Situated **among the mansions** of ‘Beer Baron Row,’ on one of the landmark streets developed by wealthy European immigrants, the affluent and du jour atmosphere remains. Dubbed one of the **hippest hipster** neighborhoods in the country, Wicker Park continues to attract *college-educated, high-earning* millennials and Gen Z alike. The best tacos and burgers in the city are mere minutes from the asset. The Milwaukee corridor has seen a *burst of new construction* in this cycle, with many developers creating **high-end boutique buildings** in an area that hasn’t seen new construction in decades. However, new zoning regulations have started to thwart new construction possibilities in the neighborhood. Current zoning at the property will allow someone to transform the building, _**as-of-right**_ and not triggering any of these burdensome regulations. This blank canvas allows a developer to forge either **For Sale** or **Rental product** in what has become one of the *chicest and desirable* areas for Chicago residents to live. With an average _median home value of **$473k**_ and an _average new construction rent of **$2,468**_, the Wicker Park neighborhood will welcome this extraordinary opportunity to deliver either product. The _**Transit Oriented Development**_ couldn’t be better located. With a **walk score of 95**, the asset is two blocks from the _**Damen Blue Line stop**_ which delivers residents to _**downtown in 15 minutes**_ and _**O’Hare and Rosemont in 30 minutes.**_

Quick Facts:


* Construction Year: **1914** * Total Building Size: **59,210** * Walk Score: **95** * Transit Score: **73** * Feet to Damen "L" Stop: **1,200**

Asset Photos



Contact Sales Team



Todd Stofflet


Managing Director

Todd Stofflet
Phone: 312.477.7004
Mobile: 312.622.2339
Email: todd.stofflet@cushwake.com

Jason Stevens


Managing Director

Jason Stevens
Phone: 312.477.7012
Mobile: 312.608.6188
Email: jason.stevens@cushwake.com

Susan Tjarksen


Managing Director

Susan Tjarksen
Phone: 312.477.7006
Mobile: 312.523.7617
Email: susan.tjarksen@cushwake.com