Why Is This Large Development In The South Shore Community Off Of Lake Is A Luxury Great Investment Opportunity?

$2.1 Million Dollars can build you a luxury development that spans three lots at 150 feet on South Shore Drive backing up to 142-acre Rainbow Beach Park. The lakefront land is located between 79th street 81st and the Calumet River in the city’s South Chicago neighborhood boarding the South Shore Community. This vacant land along Lake Michigan on the Southeast Side is the perfect opportunity for a developer to build a luxury mix-used development.

7600 S. South SHore Drive For Sale

Currently, trees, brush and chained-link fences blanket the land, but the plan includes a series of low-rise apartment buildings, built with environmentally friendly technology, with views of the lake. The Obama Presidential Center in Jackson Park and a Tiger Woods-redesign of two lakefront golf courses in the Jackson Park / South Shore Neighborhood is only minutes away from this development opportunity.  According to Crains Chicago under its current zoning, the lot, about 30,000 square feet, could accommodate a six-story building containing 40 units. A developer who obtained a zoning variance could build more as there are more land in the area for sale.

The reality is, if a developer was looking for a long term and profitable development opportunity. This would be the perfect opportunity to do what the Magellan Development has done with the Lake Shore East Neighborhood AKA New East Side. The Magellan Development has basically created their own community in the downtown area boarding Randolph East of Michigan and most of the new condo and rental glass and luxury buildings which now is the New East Side. The company has created luxury rental and condominium communities such as The Tides at Lakeshore East, The Shoreham at Lakeshore East, Grand Plaza, The Park Millennium,  Condominium developments at Lakeshore East include the Aqua, Chicago, The Parkhomes, The Chandler, 340 on the Park, The Regatta, and The Lancaster. Other Lakeshore East developments include The Park at Lakeshore East and the Village Market retail center. More recently, the company began construction of Vista Tower, a 101-story super tall structure containing a 5-star hotel and 406 luxury condominiums. Projected for completion in 2021, Vista will be Chicago’s third tallest building.

CLICK ON THE LINK TO Contact Ebonie Caldwell Realty Portfolio Luxury to learn more about this investment and development opportunity or call us directly at 312-999-0LUX |312-999-0589..

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