CHICAGO, IL – Kiser Group and Zacuto Group announce 56 East Chicago Avenue has hit the market. Located between Chicago’s Gold Coast and River North neighborhoods, 56 East Chicago Avenue is positioned near the Magnificent Mile, at the intersection of Chicago Avenue and Rush Street. The six-story mixed-use building is being marketed unpriced and features 25 residential units and three commercial retail spaces with frontage along Chicago Avenue. The property is zoned DX-12 and is vacant.
“The location of this property makes it a once-in-a-generation opportunity to acquire a building with unique architectural details at the intersection of Gold Coast and River North,” said Jake Zacuto, Zacuto Group.
“The site has interesting development potential given the zoning, location, and assemblage possibilities,” said Lee Kiser, Kiser Group’s Principal and Managing Broker. “This acquisition will be challenging for a developer, as are most projects in the heart of Chicago. Additional layers of complexity are added given the potential scale of the development, the historical designations involved, air rights that might enter the equation, and probable changes coming to the Affordable Requirements Ordinance. We’re excited to bring our expertise to this effort as Zacuto Group’s Chicago partner.”
Zacuto Group’s Jake Zacuto and Connor Sears are co-listing agents with Kiser Group’s Lee Kiser and Jake Parker.
About Zacuto Group: Zacuto Group is a Los Angeles based commercial real estate brokerage and advisory firm specialized in leasing, investment sales and strategic advisory. Founded by Jake Zacuto in 2016 with a client first relationship based approach, Zacuto Group has quickly emerged as a top commercial real estate brokerage firm known for solving complex transactions. To learn more about Zacuto Group, visit www.zacutogroup.com
About Kiser Group: Kiser Group is Chicagoland’s leading commercial real estate brokerage firm specializing in the disposition of multifamily, mixed-use and development parcels. Founded in 2005, Kiser Group works with diverse owners and investors to value, market and close commercial properties successfully. The firm’s unmatched combination of experience, market intelligence and track record makes Kiser Group the go-to broker for the Chicago metropolitan area.