Chicago has 604,319 properties under the Chicago Zoning Map. Today we looked into which ones have development potential using the development multiple calculations. For example, we’d like to filter sites where the total buildable area is ten times the existing building area.
We narrowed it down to three sets. The search results are as follows:
Sites with more than 20X development multiples = 58
Sites with more than 10X development multiples = 588
Sites with more than 5X development multiples = 8,205
How to leverage the Chicago Zoning Map?
Deepblocks has digitized the Chicago Zoning Map to to instantly identify where the development opportunities are across the city.
Here are a few more breakdowns on Chicago:
Total parcels with zoning: 604,319
Parcels with PD zoning: 21,867 (3.6%)
Parcels with Existing Building SF data: 429,008 (70%)
The existing building data is required to get a development multiple at scale. Therefore, 30% of Chicago is unaccounted for.
In the next few weeks, we will explore neighborhoods in Chicago to analyze the location and market constraints across these development opportunities.
More will be revealed,
If you’d like to hear more about development opportunities, follow Deepblocks on LinkedIn to stay updated whenever we release a new article.
Olivia Ramos is the CEO of Deepblocks, an AI-powered software that automates the site selection process for developers and investors.
See how quickly you can find your next development site here (our record is 3 minutes).