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