Retail Corner
3247 W 79th St Chicago, IL 60652
3247 W 79th St, Chicago, IL, 60652
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For Sale
Contact for pricing
Hard-corner retail storefront at a signalized four-way intersection with multiple curb cuts and an on-site billboard lease.
Property Size2,158 SF
Price / SF$243.28
Days on Market155
Property Features for 3247 W 79th St
General Information
- Standard status
- Active
- Size
- 2,158 SF
- Property subtype
- RETAIL
Listing agency
Network Commercial Real Estate
(708) 927-8000
Listed by
Neil Haleem · License #37077037778HN
(708) 927-8000
Source
Moodyscre
Added: Feb 17 Updated: Jul 21 at 6:19AM Checked: Jul 21 at 6:19AM
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 Network Commercial Real Estate
Investment Insights
Based on property information with market context.
This retail storefront is positioned on a hard corner at a signalized four-way intersection. The site includes four curb cuts, with two on Southwest Highway and two on 79th Street, providing multiple points of access for vehicles.
The property also features a three-way billboard sign located on-site, which is currently leased to a sign company. Public remarks note that the billboard lease is up for renewal, with potential for renegotiation.
The offering is for sale, and the available site size is listed as 2,158 square feet.
The property also features a three-way billboard sign located on-site, which is currently leased to a sign company. Public remarks note that the billboard lease is up for renewal, with potential for renegotiation.
The offering is for sale, and the available site size is listed as 2,158 square feet.
Key Highlights
- Hard‑corner retail storefront at the southwest corner of 79th St & Southwest Hwy
- Signalized four‑way intersection with a 4‑way signal
- Four curb cuts: two on Southwest Hwy and two on 79th St
Local Financial Insights For Retail
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 | $46.6k | $21.60 |
| − Vacancy | −$4.0k | −$1.84 |
| EGI | $42.7k | $19.76 |
| − OpEx | −$12.8k | −$5.93 |
| NOI | $29.9k | $13.83 |
2,158 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$426.5K
$373.2K – $497.6K
NOI $29,855 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$890.3K – $1.19M
NOI $71,224 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Accurate Tax Service
Tax Preparation
Illinois Currency Exchange
Check Cashing
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FAQs
What type of property is this?
Storefront property - Hard-corner retail storefront at a signalized four-way intersection with multiple curb cuts and an on-site billboard lease.
Where is this storefront property located?
The property is located at 3247 W 79th St Chicago, IL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Hard‑corner retail storefront at the southwest corner of 79th St & Southwest Hwy; Signalized four‑way intersection with a 4‑way signal; Four curb cuts: two on Southwest Hwy and two on 79th St
