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3278 N Milwaukee Ave , Chicago, IL 60618
$18,000,000
Est. Payment: $98,233.38/mo
3.28 Acres
Status: active | Days on site: 359
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15401 - 883788,1015873
By proceeding and clicking the sign up button, you consent to receive calls and texts (SMS/MMS) including marketing and promotional communications, from IDX Support, its affiliates, and agents or vendors acting on their behalf. These communications may be delivered using an automatic telephone dialing system or by using an artificial or prerecorded voice. Message and data rates may apply. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms of Use and Privacy Policy.
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House Description

Incredible development opportunity. Belmont Triangle site in Avondale. Approx. 3.28 acres parcel at Belmont Ave, Milwaukee Avenue and Pulaski Road. | Strauss Realty, Ltd. is proud to offer a rare opportunity to redevelop a substantial, 3.28 acre contiguous site in the heart of Avondale-bordered by Pulaski Road (20K VPD), Belmont Avenue (16K VPD), and Milwaukee Avenue (17K VPD). This prominent parcel is ideally suited for a higher-density, mixed-use development that could include residential units, a grocery store, restaurants, bars, entertainment venues, or even a lifestyle center with community-focused retail. Formerly home to industrial buildings, small businesses, and auto-related uses, the site is now largely vacant -creating a noticeable gap in Avondale's commercial landscape. Recognizing its potential, the previous alderman supported zoning changes to allow for four- to five-story buildings, signaling readiness for revitalization. There is strong community support for redevelopment, with the shared goal of transforming the "Belmont Triangle" into a vibrant, mixed-use destination that reflects the neighborhood's character and needs. A 2022 survey revealed that most respondents access the site by walking or driving, and expressed strong interest in open spaces along with dining and retail options. In 2022, the Department of Planning and Redevelopment designed three schemes (see brochure). As nearby neighborhoods like Logan Square and Bucktown continue to rise in cost, Avondale is becoming an increasingly attractive alternative for residents and investors alike. Demand for both residential and commercial uses remains strong, positioning this site for significant returns. The site offers outstanding accessibility and exposure, with easy access to transportation including I-90/94, the Belmont Blue Line station, and the Irving Park Metra station. The surrounding neighborhood features a mix of community assets such as schools, churches, and a range of active retail establishments, reinforcing the site's potential for impactful mixed-use development. Nearby tenants include Las Islas Marias, Walgreen's, CVS, HR Block, BP Gas, AT&T Store, McDonald's, PNC Bank, shops, laundry and dining. Development incentives include eTOD, NOF, TIF, LIHTC, federal subsidies grants and loans, Cook County Tax Incentives for Class 7A, 7B and L properties. The population within 1 mile is 44,014 with 17,021 households and average household income of $97,116.
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Highlights

Listed by Adam Schneiderman , 773-736-3600 and David Kaplan , (630) 294-8689 Strauss Realty Ltd , 773-736-3600. Midwest Real Estate Data mls logo

Property Type

Vacant Land
Lot/Acreage
3.28

County

Cook

Area

CHI - Avondale

 School District

299

Listing ID

12369091

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Interior Features

Exterior Features

Lot Dimensions:142789
Garage Capacity:0
Principal Interest
$98,233
Taxes
$83

Home Price

$18,000,000

Loan Details

30 yrs
7.25%

Down Payment

20%
$3,600,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$98,233.38

Principal

Taxes

Principal Taxes HOA Total
Monthly $98,233.38 $83.25 $0.00 $98,316.63
Yearly $1,178,800.61 $999.00 $0.00 $1,179,799.61
Total $35,364,018.36 $29,970.00 $0.00 $35,393,988.36
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Market insight data is pulled from the same city as the listing being viewed (Chicago, IL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information submitted to the MRED as of the date listed below. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers' personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time.

Based on information submitted to the MLS GRID as of the date listed below. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers' personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability. Some listings have been excluded from this website.

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Data last updated: 2026-10-27T14:56:06.000Z

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