Buying Land in Chicago

[Adam Carrington]

Newbie question. Just out of curiousness, if I had the option to buy vacant lot in a hot part of Chicago what could it possibly sale for?  Right now it's just paved land.  Would it be a good move to buy and try and sell it later when the neighborhood starts appraising for more?  How much would a duplex cost to build from the ground up at this location?

• 22,877 SF redevelopment site
• Potential to develop as townhomes or apartment building