Excited to offer the unique redevelopment opportunity located at 6943 N. Western Ave. in Chicago's vibrant West District neighborhood. This property spans 9,975 square feet and is zoned C1-2, providing various commercial development possibilities. Property Details: Location: 6943 N. Western Ave. is situated in a bustling commercial corridor, offering great visibility and accessibility. The surrounding neighborhood is a blend of residential and commercial spaces, ensuring a steady flow of potential clients and customers. Zoning: The C1-2 zoning allows for a diverse range of potential business uses, making the site versatile for various development visions. Land Area: The property has 9,975 square feet of prime land, offering ample space for creative redevelopment projects. Cell Tower Lease: Lease Terms: The cell tower lease, located on the southeast portion of the property, provides a reliable revenue stream. It began in January 1997 and was renewed in May 2015 for 28 years. As of June 2023, the lease has 20 years remaining, ensuring a stable and long-term source of income. Current Rent: The current annual rent is $39,675. According to the lease terms, the rent is upgraded every five years, with the next increase scheduled for June 2028. At that point, the rent will increase to $45,626 per year, providing a consistent and growing income for the new owner. Investment Opportunity: Land Purchase Price: The property is available for a competitive price of $900,000, offering significant potential for a high return on investment through strategic redevelopment. Cell Tower Lease Purchase Price: The cell tower lease can be acquired separately for an additional $900,000. This allows investors to secure an immediate revenue stream with predictable increases in the future. Overall, 6943 N. Western Ave. is a prime investment opportunity for savvy developers and investors. It offers versatility, a strategic location, and a consistent source of revenue through the existing cell tower lease.
Property Details
Property Features
Listing Office:
Office Name: Keller Williams ONEChicago
Office Phone: (312) 216-2422
Listing Agent: Anthony Hardy
School Info
Assigned Schools Information:
Sullivan High School, Public District Grades 9-12
G. Armstrong Elementary School, Public District Grades PK-8
Other
Directions Information:
Directions: Turn right onto N Ridge Ave Continue straight to stay on N Ridge Ave Slight left to stay on N Ridge Ave Turn right onto N Ravenswood Ave/N Ridge Ave Continue to follow N Ridge Ave Pass by McDonald's (on the right in 0.4 mi) Turn left onto W Pratt Blvd Turn right onto N Western Ave Turn right onto W Coyle Ave Destination will be on the right
Price Information
Listing Price Info
Price Summary:
List Price: $1,800,000
Tax Information:
Annual Amount: $10,080
Tax Year: 2019
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Housing Market Comparison
See how this home compares to others in Chicago, IL.
This property is $1.4M more than the Median Sold Price in Chicago, IL.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: MRED
MLS Number: #12049149
Listing Office:
Office Name: Keller Williams ONEChicago
Office Phone: (312) 216-2422
Listing Agent: Anthony Hardy
Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
7
/10
G. Armstrong Elementary School
2110 W Greenleaf Ave
Distance between this listing and this school0.33 miles
Public District Grades PK-8
High School
2
/10
Sullivan High School
6631 N Bosworth Ave
Distance between this listing and this school1.13 miles
Public District Grades 9-12
Assigned Schools
7
/10
G. Armstrong Elementary School
2110 W Greenleaf Ave
Distance between this listing and this school0.33 miles
Public District Grades PK-8
Nearby Schools
6
/10
Boone Elementary School
6710 N Washtenaw Ave
Distance between this listing and this school0.49 miles
Public District Grades KG-8
8
/10
Rogers Elementary School
7345 N Washtenaw Ave
Distance between this listing and this school0.62 miles
Public District Grades PK-8
Nearby Schools
8
/10
Stone Elementary Scholastic Academy
6239 N Leavitt St
Distance between this listing and this school0.90 miles
Public Magnet Grades KG-8
3
/10
FIeld Middle School
7019 N Ashland Blvd
Distance between this listing and this school1.06 miles
Public District Grades 4-8
6
/10
Chute Middle School
1400 Oakton St
Distance between this listing and this school1.28 miles
Public District Grades 6-8
Assigned Schools
2
/10
Sullivan High School
6631 N Bosworth Ave
Distance between this listing and this school1.13 miles
Public District Grades 9-12
Nearby Schools
7
/10
Chicago Math & Science Elementary Charter
7212 N Clark St
Distance between this listing and this school0.86 miles
Public Charter Grades 6-12
3
/10
Mather High School
5835 N Lincoln Ave
Distance between this listing and this school1.48 miles
The neighbors living near this home have an average income of $60,500. The majority of Chicago, IL residents have income less than $35k annually. The most common type of family is single, no kids. Typical level of education for residents in this area is post secondary degree.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 6943 N Western Ave
What is the listing price of this property?
The listing price of 6943 N Western Ave property is $1,800,000.
What type of property is this?
The property 6943 N Western Ave is land located in Chicago, Illinois, 60645.
Is this property for sale now?
Active Listing: 6943 N Western Ave is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 6943 N Western Ave are: G. Armstrong Elementary School: GreatSchools Rating 7/10Sullivan High School: GreatSchools Rating 2/10
What is the annual property tax for this property?
According to the records, the last property tax for 2019 is $10,080 (source: MLS/based on county public records data).
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This home is located at 6943 N Western Ave in Chicago, IL and zip code 60645 in the Far North Side neighborhood. It has been listed on Rocket Homes since May 08, 2024 and is currently priced at $1,800,000.
While more than 867 listings in Chicago, IL in April 2024 were sold above asking price, there were more than 378 listings sold at asking price, and more than 1023 were sold below. In April 2024 in Chicago, IL there were 18.4% more homes for sale than in March 2024. The median list price of listings available in April 2024 was $349,097, while the average time on the real estate market was 33 days.
From Rocket Homes Real Estate and based on county public records data.
Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
Copyright © 2024 Midwest Real Estate Data LLC (MRED). All rights reserved. 
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