Essex Realty Group, Inc. is exclusively engaged to market for sale 4740 & 4760 S. Michigan Ave. ('the Property') located in Chicago's Bronzeville neighborhood. The 0.32 acres consists of two (2) vacant parcels. The parcels are currently zoned RM-5 and situated on a 160' X 88' lot near the south west corner of Michigan Avenue and 48th Street, approximately 1 mile west of Lake Michigan.
According to the current Chicago Zoning Ordinance, the parcels RM-5 zoning designation accommodates medium to high-density multifamily buildings as well as a variety of other residential housing types.
4740-4760 S Michigan Ave. is conveniently located less than four (4) blocks from the 47th Street Green Line Station. The Green Line is one of several popular train routes of the CTA's elevated or "L" . The location is also close proximity to restaurants, grocery stores, retail and other neighborhood amenities. The Property is within 2 miles of The University of Chicago Hyde Park Campus.
BRONZEVILLE LAKEFRONT : Location proposed from McCormick Place to the north, the marshalling yards along the South Lakefront to the east, 31st Street to the South and Martin Luther King Drive to the west. This is a $3.8 Billion, multi-phased redevelopment of the Michael Reese Hospital site.
BRONZEVILLE WINERY : Armed with top-notch talent and art, and live-music, this newly constructed winery and private event space brings the Bronzeville community together.
INVEST South/West : $33.5 million will be shared with over two dozen local restaurants, small business startups, and community organizations have been funded as part of the city's pandemic recovery initiative.
BELLA NOIR WELLNESS CLUB: The Bella Noir Wellness Hub is a proposed building that would contain ground floor food & beverage, a fitness center, medical offices, the Lyric Foundation headquarters, 26 residential units for veterans and 40 parking spaces.
BRONZEVILLE 606: The infamous bicycle trail will now extend from the north side of Chicago to the southside, allowing safe transit for cyclists, runners and pedestrians on an elevated trail.
TOWNHOMES : $1.8 million construction of six-unit residential building located at 702 E 41st Street. While there are a few larger units planned, each dwelling space will have a minimum of four bedrooms and have three and a half bathrooms, with all residents ranging between 2,400 to 3,200 square feet. The building will also include an attached two-vehicle garage and roof deck.
- Ideal sized lots for residential development plans
- Zoned RM-5
- Blocks from retail corridor development
- Situated blocks from popular CTA Green Line, multiple bus routes, and retail
- Total Lot Dimensions 160' X 88'
- Total Square Feet 14,141