3232 S. MARTIN LUTHER KING DRIVE DOUGLAS

OFFERING MEMORANDUM

David Conroy | Principal Zach Pruitt | Principal Nicholas Schaefer | VP 630.729.7943 312.766.4289 312.766.4285 [email protected] [email protected] [email protected] INSIDE A 1.037 acre site with existing 19,000 Sq.Ft. building, with B3-5 & B3-1

Offering Summary ...... 5 zoning as-of-right. Opportunity Highlights ...... 6 Property Specifications...... 7 Site Overview ...... 9 Perfectly located, the property is Zoning & Buildable Analysis ...... 10 within walking distance to multiple Douglas Overview ...... 12 Area Map ...... 14 bus and train stations, parks, and beach access...centrally located to multiple Medical Institutions, College and Higher Education Campuses, and within one mile of twelve Primary Schools, Secondary Schools and the Police Department Public Safety Headquarters .

2 3 OFFERING SUMMARY

3232 S. Martin Luther King Drive

Cawley Chicago is pleased to present 3232 S Martin Luther King Dr, a 1.037 acre site with an existing 19,000 Sq.Ft. building. Rich with history, the property is located within the Bronzeville neighborhood and situated on the historic former Douglas Plaza. Previously the location of Civil War Camp Douglas, the location served as the enlistment and training center for U.S. Union Armed Forces.

Most recently, the building served as a private local school, and community center prior to. The 2-story, 19,000 SF provides excellent redevelopment opportunity with a fenced in surface parking lot offering 76 lined parking spaces. However, with B3-5 & B3-1 as- of-right zoning, 360’ of frontage along S. Martin Luther King Drive and S Calumet Ave, the 1.037 acre site is an excellent opportunity for ground-up development. Perfectly located, 3232 S Martin Luther Dr is walking distance to multiple bus and train stations, Lake Meadows Park, Dunbar Park, 31st Street Harbor, 35th St Pedestrian Bridge, and within a five minute drive of Interstate Access, Lakeshore Drive, Downtown CBD, McCormick Place, Wintrust Arena & Entertainment District.

Contributing to its unbeatable location, the property is centrally located to multiple Medical Institutions, College and Higher Education Campuses, and within one mile of twelve Primary Schools, Secondary Schools and the Chicago Police and Fire Department Public Safety Headquarters. With the as-of-right zoning, location to convenience, proximity to hospitals, schools, Chicago Police and Fire Department HQ, and a limited supply of affordable housing inventory, 3232 S Martin Luther King Dr provides a tremendous opportunity for new development to fulfill the housing needs of the City’s teachers, service, first responders, nursing and medical community.

4 5 Property Specifications

Parcel Addresses 3232 S .Martin Luther King Dr. 3245-3255 S. Calumet Ave. Parcel ID Numbers 17.34.113.019-020.0000 3232 S. MLK DRIVE 17.34.113.023-027.0000 17.34.113.029-030.0000 17.34.113.034.0000 Total Land Area 45,178 Sq.Ft. Opportunity Highlights Lot Dimensions Approx. 125’ x 360’ Property Address: 3232-3258 S. King Drive, Frontage 360’ - S MLK Dr Chicago, IL 60616 125’ - E 33rd St Total Land Area: 45,178 Sq.Ft. 360’ - S Calumet Ave Total Building Size: Approx. 19,000 Sq.Ft. Total Building Size Approx. 19,000 Sq.Ft. Zoning: B3-1 (3232); B3-5 (3245-3255) Total Stories 2 Ward: 4th, Ald. Sophia King Property Type / Use Former School / Community Center Asking Price: Subject to Offer Building Footprint 11,655 Sq.Ft. Loading One (1) Front Drive-In Two (2) Rear Double Wide Drive-In One (1) Rear Drive-In Parking 76 Lined Spaces (Surface Parking Lot) 2018 Taxes $28,532 Property Classification 212 - Mixed-use commercial/residential with 6 units or less 100 - Vacant Land 290 - Improved Land Taxcode 76001 Community Douglas Neighborhood Douglas Community Groups Bronzeville Neighborhood Collaborative Bronzeville Retail Initiative The Gap Community Organization Planning Region Central Landmark District Calumet-Giles-Prairie Enterprise Zone Zone 2

6 7 3232 S. MLK DRIVE SURVEY

8 9 Floor to Max. Number Max. Building General Total Buildable Min. Ground Floor Residential Dwelling Efficiency Parking Zoning Total Lot Area Area Ratio of Efficiency Height with Description Area per FAR Commercial Permitted Unit Unit Requirement (FAR) Units Ground Floor Community Yes - Above 1 Space per 3232 S. MLK Dr. B3-1 25,920 Sq.Ft. 1.2 31,104 Sq.Ft. 20% 2,500 Sq.Ft. 2,500 Sq.Ft. 10% 38’ Shopping District Ground Floor 1 unit

1 space per unit for 3245-3255 S. Community Yes - Above first 100 units; 0.60 B3-5 19,258 Sq.Ft. 5.0 96,290 Sq.Ft. 20% 200 Sq.Ft. 200 Sq.Ft. 30% 80’ Calumet Ave. Shopping District Ground Floor spaces per unit for all additional units

ZONING DETAILS

10 11 DOUGLAS OVERVIEW Stretching across Chicago’s southeast landscape, Douglas is a well-established part of Chicago South Side. One of the city’s most treasured beaches — 31st St Beach — sits along the neighborhood’s eastern edge, while the abundance Median Sale Price: $157,900 Average Price per Sq.Ft.: $165 of green spaces make it a picturesque place to call home.

Walk Score: 65 (Good Transit) Minutes from downtown but in the heart of one of the city’s most dynamic neighborhoods, Douglas Transit: 65 (Excellent Transit) residents enjoy the attractions of city life while having a quaint, residential pocket to call their own. Bike Score: 84 (Very Bikable) – Neighborhoods.com

12 13 McCormick Place 41

TRANSPORTATION POINTS OF INTEREST Lake Meadows Shopping Center 0.25 Mi Michael Reese Lake Meadows Park 0.3 Mi Development Site Dunbar Park 0.4 Mi CPD & CFD HQ 0.6 Mi 35th St Pedestrian Bridge 0.7 Mi 31st St Beach & 31 St Harbor 0.75 Mi 1.0 Mi King Dr & 33rd St 150’ Dunbar Park McCormick Place 1.25 Mi 33rd Place & Rhodes 725’ Wintrust Arena 1.25 Mi Indiana & 33rd Blvd 0.3 Mi Lincoln 31st Street Solider Field & Museum Park 2.0 Mi 35th St & King Dr 0.3 Mi Gardens Beach Downtown CBD 2.5 Mi 31st St & Giles Ave 0.3 Mi Michigan & 33rd Blvd 0.3 Mi MEDICAL & HIGHER EDUCATION 31ST STREET Lakefront Trail College of Optometry 0.3 MI Access Kensington Place Rehab Center 0.5 MI 31st Street Illinois Institute of Technology 0.5 MI Harbor Mercy Hospital & Medical Center 1.0 Mi Advocate Heart Institute 1.0 Mi IIT Chicago Center For Sports Medicine & Orthopedic Surgery 1.0 Mi 35th & Bronzeville CTA 0.7 Mi NEIU - Carruthers Center 1.3 Mi 35th St & Bronzeville Metra 0.8 Mi Dawson Technical Institute of 27th St Metra 1.0 Mi Kennedy King College 1.7 Mi Sox -35th CTA 1.0 Mi Columbia College 2.8 Mi 35TH STREET University of Illinois at Chicago 3.5 Mi University of Chicago 3.7 MI DePaul University - Loop Campus 4.2 Mi Guaranteed National Louis University 4.5 Mi Rate Field Rush Medical Campus 5.4 Mi Cook County Hospital 5.5 Mi Malcom X College 5.7 Mi Calumet & 33rd St 150’ Calumet Ave & 35th St 0.3 Mi PRIMARY & SECONDARY SCHOOLS State St & 33rd St 0.5 Mi De La Salle Institute <1 Mi State St & 35th St 0.8 Mi Pershing Magnet School <1 Mi W. PERSHING RD. Perspectives Charter School <1 Mi Urban Prep Academy <1 Mi Chicago Military Academy <1 Mi Dunbar Vocational High School <1 Mi James Doolittle Elementary <1 Mi St. Lucia Catholic School <1 Mi St. Jerome’s Catholic School <1 Mi I-90 Expressway 0.9 Mi McKinley Lakeside Academy <1 Mi I-55 0.9 Mi Air Force Academic High School <1 Mi Lake Shore Dr 0.9 Mi Phillips High School <1 Mi

14 ST. S. STATE S. MICHIGAN AVE. KING DR. LUTHER S. MARTIN 41 15 CHICAGO | 770 N Halsted Street, Suite 206, Chicago, IL HEADQUARTERS | One Lincoln Centre, Suite 120, Oakbrook Terrace, IL

David Conroy | Principal Zach Pruitt | Principal Nicholas Schaefer | VP 630.729.7943 312.766.4289 312.766.4285 [email protected] [email protected] [email protected] 16