3278 N Milwaukee AVE Chicago, IL 60618

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Park Place Realty Group LLC

info@parkplacerealtyllc.com +1(708) 722-5106

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Key Details

Property Type Vacant Land

Sub Type Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12369091

Annual Tax Amount $999

Tax Year 2023

Lot Size 3.280 Acres

Lot Dimensions 142789

Property Sub-Type Land

Property Description

Incredible development opportunity. Belmont Triangle site in Avondale. Approx. 3.28 acres parcel at Belmont Ave, Milwaukee Avenue and Pulaski Road. | Strauss Realty, Ltd. is proud to offer a rare opportunity to redevelop a substantial, 3.28 acre contiguous site in the heart of Avondale-bordered by Pulaski Road (20K VPD), Belmont Avenue (16K VPD), and Milwaukee Avenue (17K VPD). This prominent parcel is ideally suited for a higher-density, mixed-use development that could include residential units, a grocery store, restaurants, bars, entertainment venues, or even a lifestyle center with community-focused retail. Formerly home to industrial buildings, small businesses, and auto-related uses, the site is now largely vacant -creating a noticeable gap in Avondale's commercial landscape. Recognizing its potential, the previous alderman supported zoning changes to allow for four- to five-story buildings, signaling readiness for revitalization. There is strong community support for redevelopment, with the shared goal of transforming the "Belmont Triangle" into a vibrant, mixed-use destination that reflects the neighborhood's character and needs. A 2022 survey revealed that most respondents access the site by walking or driving, and expressed strong interest in open spaces along with dining and retail options. In 2022, the Department of Planning and Redevelopment designed three schemes (see brochure). As nearby neighborhoods like Logan Square and Bucktown continue to rise in cost, Avondale is becoming an increasingly attractive alternative for residents and investors alike. Demand for both residential and commercial uses remains strong, positioning this site for significant returns. The site offers outstanding accessibility and exposure, with easy access to transportation including I-90/94, the Belmont Blue Line station, and the Irving Park Metra station. The surrounding neighborhood features a mix of community assets such as schools, churches, and a range of active retail establishments, reinforcing the site's potential for impactful mixed-use development. Nearby tenants include Las Islas Marias, Walgreen's, CVS, HR Block, BP Gas, AT&T Store, McDonald's, PNC Bank, shops, laundry and dining. Development incentives include eTOD, NOF, TIF, LIHTC, federal subsidies grants and loans, Cook County Tax Incentives for Class 7A, 7B and L properties. The population within 1 mile is 44,014 with 17,021 households and average household income of $97,116.

Location

State IL

County Cook

Area Chi - Avondale

Interior

Fireplace N

Exterior

Utilities Available Electricity Available, Natural Gas Available, Water Available

Building

Dwelling Type Land

Schools

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

Listed by Adam Schneiderman • Strauss Realty Ltd

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Park Place Realty Group LLC

Broker | License ID: 888222

+1(708) 722-5106