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Garrett Johnson

homesbygarrett@gmail.com +1(847) 337-1157

$870,000

Est. payment - /mo

7,600 SqFt

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Key Details

Property Type Commercial

Sub Type Retail/Stores

Listing Status Active

Purchase Type For Sale

Square Footage 7,600 sqft

Price per Sqft $114

MLS Listing ID 12621976

Year Built 2005

Annual Tax Amount $45,327

Tax Year 2025

Lot Dimensions 125X157

Property Sub-Type Retail/Stores

Property Description

PRIME 1.2 FAR DEVELOPMENT OPPORTUNITY | COVERED LAND PLAY ON 79TH ST Strategically positioned on a high-visibility corner in West Chatham, this 19,625 sq ft lot offers an elite "Covered Land Play" for the sophisticated investor or developer. Zoned C1-1 with a 1.2 Floor Area Ratio (FAR), the site allows for a theoretical buildable density of up to 23,550 square feet. While you secure permits for a vertical mixed-use expansion, the existing 7,600 sq ft structure provides immediate, stable cash flow to cover all carrying costs. The asset is anchored by established neighborhood staples, including Ivy Jerk Hut, which recently committed to a new 3-year lease with a 3-year renewal option. This commitment, combined with a high-visibility pylon sign and 29 dedicated parking spaces, ensures consistent traffic and long-term viability. The Play: Whether you are looking to stabilize the remaining 3 vacancies (950-1,450 sq ft) for a high-yield hold or leverage the full 1.2 FAR for a landmark redevelopment, this property is priced at a significant basis to move. Motivated Seller | Closing available by June 2026. Contact Listing Agent for full development pro-forma and retail leakage data.

Location

State IL

County Cook

Area Chi - Chatham

Zoning COMMR

Interior

Cooling Central Air

Flooring Concrete, Tile, Other

Fireplace N

Exterior

Utilities Available Electric to Site, Natural Gas Available

Building

Dwelling Type Retail/Stores

Structure Type Concrete,Brick

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Listed by Brittany Ramsey of Keller Williams ONEChicago

Nearby School & Business

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Garrett Johnson

+1(847) 337-1157

Agent License ID: 475.188206

301 W 79th ST Chicago, IL 60620

Garrett Johnson

Key Details

Location

Interior

Exterior

Building

Nearby School & Business

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