Multi-Storefront Retail
741 W 79th Street Chicago, IL 60620
New
For Sale
$405,000
Four storefront units with a fully plumbed basement and updated HVAC and water heating systems.
Property Size4,778 SF
Lot Size0.17 Acres
Price / SF$84.76
Days on Market5
Property Features for 741 W 79th Street
General Information
Standard status
Active
Size
4,778 SF
Lot size
0.17 Acres
Property subtype
Commercial
Lease Term
Available for Sale
Building Details
Year Built
1909
Listing Agency:
Coldwell Banker Realty
(219) 865-9911
Listed By:
Maikol Akintonde
(219) 865-9911
Source:
Perillorealestategroup
Added: Jul 25
Changed: Jul 26
Last Checked: Jul 28 at 4:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This rare four-storefront retail building includes three occupied units and one vacant space ready for immediate lease-up. The property totals 4,778 square feet on a 7,500 square foot lot and is offered as-is. A full-footprint basement spans the entire building and features exposed steel, full plumbing, and limestone foundation walls. Multiple restrooms serve the building.
Three units are currently occupied: Unit 741 (food/tobacco), Unit 745 (tutoring center), and Unit 747 (a fully built-out restaurant with a commercial kitchen). Unit 747 includes an SS line, hood, fryers, and prep tables, along with a custom reclaimed-wood dining room and an outdoor wood patio. Unit 743 is vacant and described as white-box ready for lease-up.
The building is listed as B1-1 zoned. Mechanical updates include a Rheem water heater, Ameristar and RunTru HVAC systems throughout.
Three units are currently occupied: Unit 741 (food/tobacco), Unit 745 (tutoring center), and Unit 747 (a fully built-out restaurant with a commercial kitchen). Unit 747 includes an SS line, hood, fryers, and prep tables, along with a custom reclaimed-wood dining room and an outdoor wood patio. Unit 743 is vacant and described as white-box ready for lease-up.
The building is listed as B1-1 zoned. Mechanical updates include a Rheem water heater, Ameristar and RunTru HVAC systems throughout.
Key Highlights
- 4,778 SF retail building built in 1909 on a 7,500 SF lot; B1‑1 zoned
- 4 storefront units: 3 currently occupied (741 food/tobacco, 745 tutoring center, 747 restaurant) and 743 is vacant/white‑box ready
- Fully plumbed full‑footprint basement spanning the entire building with 1909 limestone foundation walls, exposed steel, and plumbing
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.1k | $9.43 |
| − Vacancy | −$2.3k | −$0.47 |
| EGI | $42.8k | $8.96 |
| − OpEx | −$12.8k | −$2.69 |
| NOI | $30.0k | $6.27 |
4,778 SF · lease $9.43/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $88,928 @ 7.0% cap · market cap 21.96%
Second Best
Retail
$944.3K
$826.3K – $1.10M
NOI $66,103 @ 7.0% cap · market cap 16.32%
Theoretical Best
Office A
$2.25M
$1.97M – $2.63M
NOI $157,697 @ 7.0% cap · market cap 38.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Storefront property - Four storefront units with a fully plumbed basement and updated HVAC and water heating systems.
Where is this storefront property located?
The property is located at 741 W 79th Street Chicago, IL.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: 4,778 SF retail building built in 1909 on a 7,500 SF lot; B1‑1 zoned; 4 storefront units: 3 currently occupied (741 food/tobacco, 745 tutoring center, 747 restaurant) and 743 is vacant/white‑box ready; Fully plumbed full‑footprint basement spanning the entire building with 1909 limestone foundation walls, exposed steel, and plumbing
