# 1716 W Webster Avenue, Chicago, IL 60614 > **TL;DR:** land, $6,950,000. > Waterfront. Est. $37,170/mo. Listed 116 days. ## Property at a Glance | Attribute | Value | |-----------|-------| | Price | $6,950,000 | | Lot Size | 48,787 sqft (1.12 acres) | | Property Type | Land (Other) | | Status | Active Under Contract | | Days on Market | 116 | ## Why This Home Stands Out - **Waterfront** - Waterfront location listed ## Estimated Monthly Costs | Category | Amount | |----------|--------| | Principal & Interest (20% down, 30-year at 6.5%) | $35,143 | | Estimated Insurance | $2,027 | | **Total** | **$37,170** | ## Key Amenities - Waterfront ## Property Highlights - 1.12 acre lot - Waterfront ## Description ### Agent Description Pleased to present the land and redevelopment opportunity of 1716 W Webster Ave, Chicago, IL 60614. The subject site contains approximately 48,879 SF of land and is being positioned at a land value of $6,950,000 ($142.19 per land SF). The valuation conclusion is supported by (i) the site's scale and redevelopment flexibility, (ii) demonstrated demand for newly delivered multifamily product in the immediate micro-location, (iii) corridor-level fundamentals that can support mid-rise density, and (iv) the depth of the buyer pool for well-located infill development sites. A newly delivered peer project directly across the street-Triangle Square Apartments (1701 W Webster Ave, completed 2025)-provides immediate real-world evidence of what this corridor can support. Triangle Square was executed as a mid-rise luxury apartment building and has reported rent bands indicating the submarket supports premium pricing across multiple unit types, including meaningful demand beyond entry-level studio/1BR. The competitive amenity set typical of current Class A delivery (fitness, roof terrace/sundeck, bike storage, pet-focused features, modern in-unit finishes) reinforces that tenants in this corridor respond to contemporary lifestyle product and that developers are underwriting and building accordingly. From a highest-and-best-use standpoint, the subject site is well-suited for a mid-rise residential redevelopment strategy. Market participants typically evaluate the opportunity through a developer feasibility lens-specifically entitlement path, achievable FAR, design efficiency (net rentable yield), parking/loading solutions, and the ability to deliver an amenity package that supports lease-up velocity and durable stabilized rents. While zoning and entitlement requirements must be confirmed as part of buyer due diligence, the immediate surroundings demonstrate that a mid-rise format can be executed successfully in the corridor. Zoning / Entitlement Consideration: The subject is currently zoned C3-3 (Commercial, Manufacturing and Employment District), which is intended to support business and employment uses and does not permit housing by-right. A residential or mixed-use redevelopment incorporating dwelling units would likely require a zoning map amendment to a residential-allowing district and/or a Planned Development depending on final program intensity and design. This should be validated via zoning counsel and a preliminary massing study. ## Location - **Address:** 1716 W Webster Avenue, Chicago, IL 60614 - **County:** Cook - **Coordinates:** 41.921711, -87.671623 - **Google Maps:** https://www.google.com/maps?q=41.921711,-87.671623 ## Listing Agent - **Name:** Anthony Hardy - **Brokerage:** Keller Williams Chicago ONEChicago - **Broker Phone:** (312) 216-2422 - **Listing URL:** [View original listing](https://www.realtor.com/realestateandhomes-detail/1716-W-Webster-Ave_Chicago_IL_60614_M93592-44297?f=listhub&s=MREDIL&m=12699197&c=propsimple) ## Photos ![1716 W Webster Avenue - Photo 1](http://lh.rdcpix.com/156e388f84a56e71cd4ecc19e10a4036l-f373555918r.jpg) ![1716 W Webster Avenue - Photo 2](http://lh.rdcpix.com/156e388f84a56e71cd4ecc19e10a4036l-f565251500r.jpg) ![1716 W Webster Avenue - Photo 3](http://lh.rdcpix.com/156e388f84a56e71cd4ecc19e10a4036l-f2170136318r.jpg) ![1716 W Webster Avenue - Photo 4](http://lh.rdcpix.com/156e388f84a56e71cd4ecc19e10a4036l-f940204199r.jpg) ![1716 W Webster Avenue - Photo 5](http://lh.rdcpix.com/156e388f84a56e71cd4ecc19e10a4036l-f3756017536r.jpg) ![1716 W Webster Avenue - Photo 6](http://lh.rdcpix.com/156e388f84a56e71cd4ecc19e10a4036l-f965234221r.jpg) ![1716 W Webster Avenue - Photo 7](http://lh.rdcpix.com/156e388f84a56e71cd4ecc19e10a4036l-f3414420627r.jpg) ![1716 W Webster Avenue - Photo 8](http://lh.rdcpix.com/156e388f84a56e71cd4ecc19e10a4036l-f3152948427r.jpg) ![1716 W Webster Avenue - Photo 9](http://lh.rdcpix.com/156e388f84a56e71cd4ecc19e10a4036l-f1706366345r.jpg) ![1716 W Webster Avenue - Photo 10](http://lh.rdcpix.com/156e388f84a56e71cd4ecc19e10a4036l-f3231888110r.jpg) ![1716 W Webster Avenue - Photo 11](http://lh.rdcpix.com/156e388f84a56e71cd4ecc19e10a4036l-f1838182571r.jpg) ![1716 W Webster Avenue - Photo 12](http://lh.rdcpix.com/156e388f84a56e71cd4ecc19e10a4036l-f1178460740r.jpg) ![1716 W Webster Avenue - Photo 13](http://lh.rdcpix.com/156e388f84a56e71cd4ecc19e10a4036l-f708365200r.jpg) ![1716 W Webster Avenue - Photo 14](http://lh.rdcpix.com/156e388f84a56e71cd4ecc19e10a4036l-f650835648r.jpg) --- **MLS#:** 12699197 | **Updated:** 2026-10-20 **Source:** listhub *Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.* [View on PropertySimple](https://www.propertysimple.ai/listing/1716-w-webster-avenue-chicago-il-60614-0ca7cdded50f4c33854a9729b8aa5ed2) --- ## Structured Data ```json { "@context": "https://schema.org", "@type": "RealEstateListing", "@id": "https://www.propertysimple.ai/listing/1716-w-webster-avenue-chicago-il-60614-0ca7cdded50f4c33854a9729b8aa5ed2#listing", "url": "https://www.propertysimple.ai/listing/1716-w-webster-avenue-chicago-il-60614-0ca7cdded50f4c33854a9729b8aa5ed2", "name": "1716 W Webster Avenue, Chicago, IL 60614", "description": "Pleased to present the land and redevelopment opportunity of 1716 W Webster Ave, Chicago, IL 60614. The subject site contains approximately 48,879 SF of land and is being positioned at a land value of $6,950,000 ($142.19 per land SF). 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The competitive amenity set typical of current Class A delivery (fitness, roof terrace/sundeck, bike storage, pet-focused features, modern in-unit finishes) reinforces that tenants in this corridor respond to contemporary lifestyle product and that developers are underwriting and building accordingly. From a highest-and-best-use standpoint, the subject site is well-suited for a mid-rise residential redevelopment strategy. Market participants typically evaluate the opportunity through a developer feasibility lens-specifically entitlement path, achievable FAR, design efficiency (net rentable yield), parking/loading solutions, and the ability to deliver an amenity package that supports lease-up velocity and durable stabilized rents. While zoning and entitlement requirements must be confirmed as part of buyer due diligence, the immediate surroundings demonstrate that a mid-rise format can be executed successfully in the corridor. Zoning / Entitlement Consideration: The subject is currently zoned C3-3 (Commercial, Manufacturing and Employment District), which is intended to support business and employment uses and does not permit housing by-right. A residential or mixed-use redevelopment incorporating dwelling units would likely require a zoning map amendment to a residential-allowing district and/or a Planned Development depending on final program intensity and design. 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