1406-1408 W Morse Ave - 1406-1408 W Morse Ave, Chicago, IL 60626 0.2 Acres of Commercial Land Offered at $875,000 in Chicago, IL 60626

PRIME DEVELOPMENT PROPERTY The development property is zoned B3-3, an advantageous underlying zoning that allows a sizable as-of-right development with no affordable housing on site and no in lieu payments which expedites the development schedule and removes entitlement uncertainty for developers.
TOD ELIGIBLE LOCATION The property falls within a Transit Oriented Development zone (TOD) for being adjacent to the Morse CTA Red Line station allowing for additional bonus FAR (utilizing the bonus will trigger ARO requirements).
HIGHLY WALKABLE & ACCESSIBLE LOCATION Deemed a “Walkers Paradise” (94/100) and “Biker’s Paradise” (91/100) by WalkScore.com, the Property is situated within walking distance to the Morse red line train station, and the Rogers Park metra station, and numerous CTA bus lines, including #155- Ashland Ave, #147- Sheridan Rd and others.
STRONG APARTMENT DEMAND
The Property’s proximity to Loyola University (0.7 mile) generates a steady stream of rental demand, ensuring consistent occupancy year after year. The Rogers Park neighborhood attracts a diverse tenant base, including students, young professionals, and families, supporting stable income and favorable long-term returns.
ATTRACTIVE DEMOGRAPHICS
With nearly 8,000 students enrolled at Loyola University just steps away, the surrounding area maintains a strong demand for quality housing. Within one mile of the property, the population totals over 70,663 residents with an average household income exceeding $83,000, reflecting a well-balanced mix of renters and long-term community stability.