# 1716 W Webster Avenue, Chicago, IL 60614

> **TL;DR:** land, $6,950,000.
> Waterfront. Est. $37,170/mo. Listed 2 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $6,950,000 |
| Lot Size | 48,787 sqft (1.12 acres) |
| Property Type | Land (Other) |
| Status | For Sale |
| Days on Market | 2 |

## Why This Home Stands Out

- **Waterfront** - Direct water access

## 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 ONEChicago
- **Phone:** (312) 216-2422

## Primary Photo

![1716 W Webster Avenue - Primary Photo](http://lh.rdcpix.com/156e388f84a56e71cd4ecc19e10a4036l-f373555918r.jpg)

*14 total photos available on [listing page](https://www.propertysimple.ai/listing/1716-w-webster-avenue-chicago-il-60614-12699197)*

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**MLS#:** 12699197 | **Updated:** 2026-08-01
**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-60614-12699197)

---

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