518 S Western AVE, Chicago, IL 60612
518 S Western AVE, Chicago, IL 60612
518 S Western AVE, Chicago, IL 60612
518 S Western AVE, Chicago, IL 60612
518 S Western AVE, Chicago, IL 60612
518 S Western AVE, Chicago, IL 60612
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Kathryn (Kathy) Jensen

Kathryn (Kathy) Jensen

+1(773) 757-8864
$ 699,000
Est. payment | /mo

1,742 Sqft Lot

Save
$ 699,000
Est. payment | /mo
Save

1,742 Sqft Lot

Key Details

Property Type Vacant Land

Sub Type Land

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID 12581957

Annual Tax Amount $8,557

Tax Year 2024

Lot Size 1,742 Sqft

Lot Dimensions 73X84

Property Sub-Type Land

Property Description

518-522 S Western Avenue is a rare 3-parcel assemblage totaling 6,132 SF strategically positioned within one of Chicago's most dynamic and rapidly evolving corridors, benefiting directly from the transformational growth surrounding the United Center and the multi-billion-dollar 1901 Project. This large-scale redevelopment will introduce new residential density, retail, hospitality, entertainment venues, and activated public spaces, fundamentally reshaping the immediate area and driving sustained increases in foot traffic, consumer demand, and long-term property values along the Western Avenue corridor. The surrounding neighborhood continues to experience meaningful mixed-use and residential new developments, reinforcing its transition toward higher-density, transit-oriented growth. Ongoing land sales and redevelopment activity in the immediate vicinity further validate investor confidence and signal continued capital inflow into the submarket. The property's mixed-use positioning and zoning capacity, allowing for up to 15 residential units above a retail unit, creates a highly flexible opportunity to capitalize on this growth trajectory. The site is well-suited for a thoughtfully designed mixed use redevelopment that leverages strong residential demand driven by proximity to the Illinois Medical District, surrounding employment hubs, and expanding neighborhood amenities. Simultaneously, its prominent Western Avenue frontage, strong traffic counts, and existing outdoor space provide the ability to incorporate a highly visible retail or restaurant component that benefits from daily workforce demand and event-driven traffic from the United Center.

Location

State IL

County Cook

Area Chi - Near West Side

Zoning COMMR

Interior

Fireplace N

Exterior

Utilities Available Electric to Site, Natural Gas Available, None

Building

Dwelling Type Land

Schools

Elementary Schools Jensen Elementary School Olastic

Middle Schools Jensen Elementary School Olastic

High Schools Manley Career Academy High Schoo

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

Midwest Real Estate Data (MRED) IDX
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Mitir Patel of  Essex 312, LLC 

Nearby Locations

Kathryn (Kathy) Jensen

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(773) 757-8864

kjensen@chicagorea.com

1941 N Elston Ave, Chicago, IL 60642, USA

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518 S Western AVE