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1634-1642 W 79th St
Chicago, IL 60620
Retail Property For Sale
Investment Highlights
- Newer 9 Unit Strip Center in Auburn Gresham community.
- Property was build for $1,400,000 and appraised for $2,000,000. Pro forma cap rate 14.55%
- Near the new Metra station development. Lots of development in the area!
- Tremendous value add opportunity to acquire 8,194 sf strip center for under $100/sf. Well below replacement cost!
- Newer construction center - ready for occupancy
- Ample Parking with new parking lot and sidewalks. Close to Transportation Existing tenants include: Mini Market, Crown Vape, and Paradize Spa!
Executive Summary
Positioned in Chicago’s Auburn Gresham neighborhood, this newer construction strip center offers a prime opportunity for retailers seeking visibility and accessibility in a high-traffic corridor. Located on 79th Street, just one block west of the busy intersection at 79th and Ashland, the property benefits from approximately 158 feet of frontage and exposure to 17,600 vehicles per day.
The center features flexible retail configurations with spaces ranging from approximately 851 SF to 1,181 SF, accommodating a variety of uses such as service retail, food and beverage, and neighborhood-oriented businesses. A prominent pylon sign enhances branding opportunities, while easy ingress and egress improve customer convenience.
Surrounding amenities include the historic Kroc Center, local dining establishments, and educational institutions, creating a strong community draw. With a new Metra station planned nearby and excellent public transit connectivity, this location offers long-term growth potential for tenants.
The center features flexible retail configurations with spaces ranging from approximately 851 SF to 1,181 SF, accommodating a variety of uses such as service retail, food and beverage, and neighborhood-oriented businesses. A prominent pylon sign enhances branding opportunities, while easy ingress and egress improve customer convenience.
Surrounding amenities include the historic Kroc Center, local dining establishments, and educational institutions, creating a strong community draw. With a new Metra station planned nearby and excellent public transit connectivity, this location offers long-term growth potential for tenants.
Property Facts
Sale Type
Investment
Property Type
Building Size
8,200 SF
Building Class
C
Year Built
2008
Price
$800,000
Price Per SF
$97.56
Cap Rate
10.79%
NOI
$86,320
Percent Leased
57%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.50
Lot Size
0.38 AC
Zoning
B3-1
Parking
16 Spaces (1.95 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
Property Taxes
| Parcel Numbers | Improvements Assessment | $106,092 | |
| Land Assessment | $37,576 | Total Assessment | $143,668 |
Property Taxes
Parcel Numbers
Land Assessment
$37,576
Improvements Assessment
$106,092
Total Assessment
$143,668
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