The three clicks is a promise. First, open a Chicago-based Place Report; Property Finder will open automatically. (For example, open Near West Side community area.)
In a moment, Chicago Cityscape will show you a map and data table of developable lots for sale in Chicago. The information shown to you will also include a calculation of how many homes each property allows based on its current zoning district.
These filters combined can find excellent new construction and redevelopment opportunities. For example, we found a one-story commercial building for sale in the West Loop which is zoned to allow seven apartments or condos.
You might be wondering, what’s a developable lot? Our definition of developable lots comprises properties that meet all of these criteria:
Chicago Cityscape updates properties for sale once a day; the criteria listed above are updated as needed or as properties change.
Chicago Cityscape added a new filter in Property Finder and Property Sales Browser that filters out sales that are likely not arms length transactions. We are excited to offer this to our members who are brokers and appraisers as this will make it easier to identify incomparable sales.
To find arms-length transactions we are using most of the filters that the Cook County Assessor's Office uses. Our filter uses the following flags to identify if a property is not arms length:
In one of our tests we found that 17 percent of property sales in the Near West Side community area had one or more of the flags and were not considered to be an arms length transaction.
