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$ 870,000
Est. payment | /mo
7,600 SqFt
$ 870,000
Est. payment | /mo
7,600 SqFt
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 $7,240
Tax Year 2023
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
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Brittany Ramsey of Keller Williams ONEChicago
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