1375 W Lake St - High-Profile Fulton Market Development Site 0.54 Acres of Commercial Land Offered at $9,750,000 in Chicago, IL 60607

SVN CHICAGO COMMERCIAL is pleased to offer for sale a ±23,000 SF re-development opportunity in Chicago’s dynamic Fulton Market neighborhood. The property, located at 1375 W Lake Street, has been the longtime home of “Bottom Lounge”, a renowned ±18,000 SF hospitality venue specializing in live music with a full-service restaurant kitchen, large bar/restaurant space and a 2nd floor catering facility with a large outdoor deck and parking for ±25 cars.
The site is currently zoned C1-3 but sits in the “Downtown Expansion-West” area as well as being in a TOD (Transit Oriented Development) zone, both of which allow for increases in density and parking relief for vertical multi-family development. The property is positioned in the midst of many recent and soon-to-come high-rise residential, mixed-use, office, life- science, hotel, etc., properties and is suitable for many different types of re-development.
The current ownership is in a position to afford a developer time for re-zoning the property to suit their needs. Additionally, the business (Bottom Lounge), will continue to operate for a period of time and is open to entertaining a short-term sale- leaseback. This is a rare opportunity to acquire a large development site in one of the most sought-after sub-markets in the entire country.