Property Description

Pleased to offer for sale a 23,000 SF re-development opportunity in Chicago's dynamic Fulton Market neighborhood. The property, located at 1375 W Lake Street, has been the longtime home of "Bottom Lounge", a renowned 18,000 SF hospitality venue specializing in live music with a full-service restaurant kitchen, large bar/restaurant space and a 2nd floor catering facility with a large outdoor deck and parking for 25 cars. The site is currently zoned C1-3 but sits in the "Downtown Expansion-West" area as well as being in a TOD (Transit Oriented Development) zone, both of which allow for increases in density and parking relief for vertical multi-family development. The property is positioned in the midst of many recent and soon-to-come high-rise residential, mixed-use, office, life- science, hotel, etc., properties and is suitable for many different types of re-development. The current ownership is in a position to afford a developer time for re-zoning the property to suit their needs. Additionally, the business (Bottom Lounge), will continue to operate for a period of time and is open to entertaining a short-term sale- leaseback. This is a rare opportunity to acquire a large development site in one of the most sought-after sub-markets in the entire country.

Features & Information

Key Details

List Price $9,750,000
Property Taxes $226,655
Acreage 0.54
Lot Dimensions 124x188
Status New

Schools

Elementary School District 1
Junior High District 1
High School District: 1

Location

General Information None
County Cook
Township West Chicago
Corporate Limits Chicago
Directions to Property On W Lake St At Ogden Ave

Property Taxes
Tax $226,655
Tax Year 2024
Parcel Identification Number 17083240030000

Listed by: Sperry Van Ness | Phone: 312.676.1866
Source: MRED as distributed by MLS GRID

Based on information submitted to the MLS GRID as of 2/18/2026 8:32 PM. 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.

Explore West Loop

This ultra-urban, former warehouse district is one of Chicago's hip, up-and-coming neighborhoods, just steps away from Loop. The West Loop shares corner space with fine galleries and some of the city's trendiest lofts and condominiums. The neighborhood is great for those who like being next to downtown, but enjoy a little breathing room. Even though it had its start as an industrial storage center, the West Loop is making up for lost time by infusing the area with as much active life and entertainment options as space will allow. Beginning with a couple public parks, the community is not for want of open expanses of green or recreation opportunities these days. In fact, West Loop's Union Park is more than a playground – it doubles as an annual outdoor festival venue for the popular Pitchfork Music Festival each year. West Loop is also gaining fame for its exceptional cuisine with more celebrity chefs opening up shop in the area more than any other neighborhood.

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