Remarks

This value-add historic bar/restaurant property at the high-traffic Wabash and Roosevelt intersection offers significant potential with air rights and DX-7 zoning. Formerly the "Wabash Tap" and Koko Taylor's blues club, the 4,275 SF ground floor features a second-generation bar/restaurant space with substantial infrastructure for a new operator. The upper floors, already apartments can be converted into more apartments or office space. Zoned DX-7, the property allows for up to +/- 30,000 buildable SF, with potential for high-rise residential, mixed-use, hotel, office, or retail/restaurant development. Located in the vibrant South Loop/Museum Campus area, it's within walking distance to Grant Park, Soldier Field, museums, and Millennium Park's iconic "Bean." The location is easily accessible, with an L stop one block away and grocery stores (Jewel-Osco, Trader Joe's) across the street. Situated in a Transit-Oriented Development (TOD) area, it benefits from reduced parking requirements and is just one block from the Roosevelt CTA station, which serves 3.8 million riders annually. The property is available for sale, with ground floor and upper floors also available for your ideas to continue work on to rent out, immediately. The time is now!

Details

MLS#: 12185504
Price: $1,950,000

Style: Mixed Use
Sq Ft: 9975
Year Built: 1910

County: Cook
Lot Size: PER SURVEY
Tax Fee: 23667