301 W 79th Street, Chicago, IL 60620
Cook County
Key Facts
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.
Property Information
Property Type
Commercial Sale
Sub-Type
Retail
Year Built
2005
Stories
1
Living Area
7,600 sq ft
Lot Size
19,625 sq ft
Lot Dimensions
125X157
Zoning
COMMR
Days on Market
75
MLS® Listing#
12621976
Property Features
Cooling
Flooring
Construction
Foundation
Utilities
Financial Details
Annual Taxes
$7,241
Tax year 2023
Parcel Number
20332010030000
Directions
I-94 to 79th Street W to Property. SWC of Princeton Avenue.
Affordability Calculator
$174,000
Estimated monthly payment
$4,631/mo
Principal $696,000 · Est. interest $970,982 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Chicago, IL
- $388,137
- Median Listing Price
- 47
- Median Days on Market
- 1,429
- Median Sq Ft
- $276
- Median Price / Sq Ft
- 4,628
- Active Listings
- This home’s price is 124% above the area median.
- Its price per sq ft is 59% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Chicago, IL.
Location
Points of Interest in Chicago, IL
Showing the Chicago area map.
Nearby Schools
Chicago Public Schools
Elementary · 0.2 mi away
Lenart Elementary Regional Gifted Center
Elementary · 0.4 mi away
Simeon Career Academy School
School · 0.4 mi away
Chicago Public Schools
Elementary · 0.5 mi away
Community Youth Development Institute
Secondary · 0.5 mi away
Chicago Public Schools
Elementary · 0.7 mi away
Chicago Public Schools
School · 0.8 mi away
Oglesby Elementary School
Elementary · 0.8 mi away
Leo High School
Secondary · 0.8 mi away
Perspectives Leadership Academy
Secondary · 0.8 mi away
Deneen Elementary School
Elementary · 0.9 mi away
St Dorothy's School
School · 1.0 mi away
Neil Elementary School
Elementary · 1.0 mi away
Gresham Elementary School
Elementary · 1.0 mi away
Access at Perspectives Calumet
School · 1.0 mi away
Stagg Elementary School
Elementary · 1.1 mi away
Chicago Public Schools
Elementary · 1.1 mi away
Chicago Public Schools
School · 1.1 mi away
Dr Martin Luther King, Junior Academy of Social Justice
Elementary · 1.1 mi away
St Sabina Academy
Secondary · 1.2 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 5012 N Tripp Avenue, Chicago, IL | $609,000 | 5 | 4 | 2,026 |
| 8022 S Paulina Street, Chicago, IL | $609,995 | — | — | — |
| 5340 N Lincoln Avenue 201, Chicago, IL | $610,000 | 3 | 2 | — |
| 5555 N Cumberland Avenue 901, Chicago, IL | $610,000 | 3 | 2 | 1,800 |
| 3735 W Palmer Street, Chicago, IL | $610,000 | 3 | 2 | 1,218 |
| 6506 S Saint Lawrence Avenue, Chicago, IL | $610,000 | 9 | 3 | — |
Moving Cost Estimate
EXIT Agents in Chicago
Listing Courtesy: Keller Williams ONEChicago - 3122162422
Last Updated: 2026-04-17