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3016 West Peterson Avenue
3016 West Peterson, Chicago, IL 60659
Last Verified 11/18/2009
Listing ID 16399310
Highlights
Lender ordered sale.- Over 40% price reduction from original asking price.
- Premier location along Peterson Avenue.
- Plans are available for 44-unit mid-rise condominium building.
- 207 feet of frontage along Peterson Avenue.
Description
LENDER ORDERED. SALE PRICE REDUCTION. CB Richard Ellis has been retained as the exclusive advisor for the sale of 3016 West Peterson located in the Peterson Woods neighborhood of Chicago, Illinois (the property ). This 18,837-square foot commercial development site is a true infill development site located on heavily traveled Peterson Avenue.
With over 200 feet of frontage along Peterson Avenue, the property is both a commercial and mixed-use development opportunity in the beautiful Peterson Woods/North Park neighborhood. 3016 West Peterson is zoned B2-3. The B2-3 zoning allows for a variety of uses including retail, service and residential uses and provides for the construction of a building containing up to 56,511 SF. The property's current zoning allows for construction of a mid-rise building containing up to 47 dwelling units The property's location in an established retail market makes it an attractive commercial and residential location. The property' s Peterson Avenue frontage, corner location and proximity to to newer retail developments, including newly developed facilities occupied by Walgreens and Bank, further enhances its commercial appeal.
The Peterson Woods neighborhood is situated on the northwest side of Chicago and is considered part of North Park. This primarily residential neighborhood has been noted for its quiet, tree lined streets and offers a variety of single family homes, condos, and town homes. Enhancing this desirability is Peterson Woods' proximity to North Park College and Northeastern Illinois University as well as several elementary and high schools, both public and private. Also in this part of town, Swedish Covenant Hospital at Foster and California is perhaps the largest and most well resourced hospital in the area.
The western edge of the neighborhood consists mainly of parks and recreation areas. Peterson Park, in particular, holds special events and has a modern gymnasium, plenty of outdoor recreational areas, ice-skating, walking paths and playgrounds.
The property is near Legions park and the new Riverwalk and bike path.
Map of 3016 West Peterson, Chicago, IL 60659 (Cook County)
Created 9/18/2009
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.