FOR SALE N Kenmore Ave, Chicago, IL 60613

Transcription

1 HUGE PRICE REDUCTION FOR SALE MOTIVATED SELLER *Development Opportunity Adjacent to Wrigley Field* Direct View of Home Plate (approx. 536 ft. away) down 3 rd Base Line 3710 N Kenmore Ave, Chicago, IL Apex Properties is pleased to present the opportunity to purchase this extremely rare and highly coveted lot of land which is located adjacent to the world renowned Wrigley Field, home of the 2016 World Series Champions Chicago Cubs. The property is a 2,000 sq. ft. dual zoned lot of land, with a 2-story house which has 3 bedrooms and a basement (the house is a tear-down). The house was built back in 1886, when the street was formerly named Osgood Ave. The surrounding area is now built up with apartment buildings and townhomes, which have rooftop seating for fans to be able to watch the games, concerts, and other events which take place at Wrigley Field, without having to go into the stadium. You can see from the pictures that this property has a clear view of Home Plate from right down the 3rd Base Line. Home Plate is just approximately 536 feet away, potentially making this another valuable fan experience. The highest-andbest use might include rooftop advertising (possibly digital billboards as air rights are with property) or special club license. New Price: $8,000,000 Original List Price: 9,800, % Price Reduction Building Size: 980 SF (Teardown) Lot Size: 2,000 SF Year Built: 1886 Zoning: RT-4/RM-5 Perfect for redevelopment to a 3+ unit townhome, or MF building w/ rooftop seating or advertising. (Air Rights are w/ the property!) Presented By:

2 Property Location: 3710 N Kenmore Ave is located at the corner of Kenmore Ave and the Alley which runs parallel to Waveland Ave. It is within the Wrigley Field Adjacent Area, and is the 1st of 5 Boundary Line Buildings which establish and define the special Wrigley Field Adjacent Area.

3 Wrigley Field Adjacent Area : 3710 N Kenmore Ave is the 1 st of 5 boundary line buildings that Establishes and Defines the Wrigley Field Adjacent Area. "Wrigley Field Adjacent Area" has Rooftop Bleachers, called special Rooftops clubhouses that include the third floor. You must be in the "Wrigley Field Adjacent Area" to build a rooftop clubhouse for viewing purposes. Proprietors are able to do so under all laws that have been passed by the City of Chicago.

4 Future Possibilities: The are numerous potential directions to which this site could be taken. The current zoning, RT-4, allows for redevelopment to a multi-unit townhome, with a minimum of 3 units. An investor could then add rooftop bleachers, rooftop signage, or other creative ideas, to increase profitability and visibility, as Air Rights are with the property. Another great development would be to turn it into a special club, where high-end clients could go before and after the game to associate and mingle, instead of having to go to a public bar. Alternatively, one could also turn this into the ultimate fan experience by offering a way to go to see the game, without the hassle of entering the park. Rooftop seats with a lounge/bar inside would do very well, especially with the lack of such facilities in the area surrounding the park. The site could also easily be turned into a Bed & Breakfast, since the area and ballpark are now becoming year-round destinations. This could be done quite easily and with little capital, compared to other larger scale developments.

5 Year Round Destination According to multiple sources, including the link below, beyond MLB, Wrigley Field will be hosting many other events including College Football, Concerts, Hockey, and possibly many more, making this a definite year round destination for fans and tourists. /wrigleyville/wrigley-field-college-footballnorthwestern-bowl-game-cubs

6 Cubs Vision (Chicago Tribune, 2013): Great Visibility! Endless Possibilities! Signage potential is Huge!

7 Nearby Developments: The Park at Wrigley offers a beautiful open-air destination for farmers markets, community events, festivals, dining and much more. The Park at Wrigley serves as Wrigleyville s town square a year-round gathering place for neighbors, families, fans and visitors. Hotel Zachary will be a new boutique lifestyle hotel slated to open in early It will be a 7-story, 238,000 SF project, with 175 guest rooms, featuring a McDonald s, a Wintrust Bank, and two more high-profile restaurants. Addison & Clark will bring new apartments, commercial space, and parking to the Lakeview residents. This project will feature 148 apartment units, approximately 146,000 SF of commercial space and 405 indoor parking spaces. See the link below for updates on recent development and openings:

8 Additional Images: