Large Milwaukee Avenue parcel hits the commercial market

Logan Square, an area that has been inundated with new development over the last few years, could get another really big proposal for Milwaukee Avenue in the near future. The property at 2274 N. Milwaukee Avenue, which currently features a single-story commercial space and a large surface parking lot, is for sale and is being marketed as potential opportunity to build a new transit-oriented development for the neighborhood.

Located directly across the street from Logan Square’s new Mica towers, a Family Dollar currently occupies the 27,360-square-foot property. And with its location adjacent to the elevated Blue Line and the California station, this property is an easy candidate for TOD—typically tall, dense residential developments with few vehicle parking spaces.

According to the listing from commercial brokerage Baum Realty, the Family Dollar at the location still has two years remaining in its lease for the property. Considering the timeline for closing on the property then proposing a new development and receiving a zoning change, the timing seems to be in line with a future redevelopment for the site. The large site with 250 feet of Milwaukee Avenue frontage is being marketed for $4.5 million.

• 2274 N Milwaukee Ave [LoopNet]
• Milwaukee Avenue's transformative development boom, mapped [Curbed Chicago]