Exceptional development opportunity in the heart of South Shore. This expansive 40,453 SF parcel (250' x 163') is zoned RT-4 and offers outstanding potential for a luxury single-family residence, duplex development, or multi-unit residential project. Surrounded by mature trees and positioned on a beautiful residential block, the site is ideally located near the Obama Presidential Center, Lake Michigan, the 71st Street retail corridor, and the South Shore Cultural Center. Nestled near the historic Jackson Park Highlands neighborhood and amid ongoing new construction and investment activity, this property presents a compelling opportunity for developers, builders, and long-term investors alike. Convenient access to Lake Shore Drive, CTA transit, and the Metra Electric enhances appeal for future residents and supports strong long-term value. The seller is willing to divide the property into either ten 25' x 163' parcels or five 50' x 163' parcels, offering added flexibility for a range of development plans. A builder is also in place and available to assist with project execution if desired.
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Zillow last checked:
Listing updated:
Listed by:
Richard Lomaxrich@gramercysold.com,
Fulton Grace Realty
Source: MRED as distributed by MLS GRID,MLS#: 12657831
Facts & features
Property
Features
Frontage length: 250
Lot
Size: 0.93 Acres
Dimensions: 250 X 162
Details
Parcel number: 20243240220000
Zoning: MULTI
Special conditions: None
Utilities & green energy
Utilities for property: Electricity Nearby, Natural Gas Nearby, Sewer Nearby, Water Nearby
Community & HOA
Location
Region: Chicago
Financial & listing details
Tax assessed value: $61,140
Annual tax amount: $1,232
Date on market: 5/26/2026
Ownership: Fee Simple
Road surface type: Asphalt, Concrete
Estimated market value
Zestimate®
Not available
Estimated sales range
Not available
Rent Zestimate®
$1,358/mo
Price history
Date
Event
Price
5/26/2026
Listed for sale
$600,000+400%
Source: MRED as distributed by MLS GRID #12657831Report a problem
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HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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Source: MRED as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.