Kiser Group and Zacuto Group have brought 56 E. Chicago Ave. to market. The six-story mixed-use value-add is being marketed unpriced, featuring 25 residential units and three commercial retail spaces. It’s currently vacant.
Located between Gold Coast and River North, 56 E. Chicago is positioned near the Magnificent Mile. “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.
Added Kiser Group’s Lee Kiser, “This acquisition will be challenging for a developer, as are most projects in the heart of Chicago.” He cited “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” as potential complexities.
Zacuto Group’s Zacuto and Connor Sears are co-listing agents with Kiser Group’s Kiser and Jake Parker.