While the demise of the Oldsmobile line helps prompt the redevelopment opportunity, nearly 90% of the property's $2-million assessed value is in the land, according to Cook County property tax records.
"We've already had a wide range of calls with interest from car dealers, residential developers and others with redevelopment plans," says sales associate Kevin List, brokering the property with sales associate Joe Esselman.
The block includes business, commercial and multifamily zoning, with the possibility to build more than twice the current 83,000 sf. "With nearly 500 feet of frontage on Wells Street, this is a one-of-a-kind site that is ideal for many different uses," List adds in a statement.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.