This REO 1031 eligible property represents a development site located along the north side of West Division Street proximate to the intersection of Milwaukee Avenue and Division Street in the Wicker Park Neighborhood of Chicago, Cook County, IL. The site encompasses land area of approximately 7,500 square feet (0.172 acres) located on the north side of Division Street, between Ashland Avenue and Paulina Street. The three contiguous parcels are zoned B3-2, Community Shopping District.
Upon development, the site is projected to encompass a mixed-use property with ground level commercial and upper level residential. The development will be part of the community
retail market situated along the popular Division Street near Damen Avenue, North Milwaukee Avenue and Ashland Avenue. The trade area is highlighted by a dense population base and augmented by accessibility via public transportation including the CTA Blue Line. Additionally, the subject benefits from its location less than a half a mile west of the Kennedy Expressway (Interstate 90/94).
The Bank had a $2, 227,000 first mortgage on the asset and has taken title to the property.
For more information download the pdf file or contact Ken Knoll at First Bank of Illinois at 847-654-4411.
