Signalized Corner Storefront
For Sale
$459,900
3247 W 79th Street, Chicago, IL 60652
Freestanding retail building with multiple curb cuts and an on-site billboard lease.
Property Size2,158 SF
Lot Size0.30 Acres
Price / SF$213.11
Days on Market302
Property Features for 3247 W 79th Street
General Information
Standard status
Active
Size
2,158 SF
Lot size
0.30 Acres
Property subtype
Commercial
Zoning
RTAIL
Site & Location
Corner Location
Yes
Pylon Signage
Yes
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$11,757
Building Details
Building Size
2,158 SF
Year Built
1965
Buildings
1
Stories
1
Units
1
Listing Agency:
Network Property Managment LLC
(708) 873-5540
Listed By:
Neil Haleem · License #37077037778HN
(708) 873-5540
Source:
Allinonerealestateco
Added: Oct 16, 2025
Changed: Aug 10
Last Checked: Aug 12 at 1:02PM
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 Property Managment LLC
Investment Insights
Based on property information with market context.
This freestanding storefront property includes a 2,158-square-foot building on an approximately 13,171-square-foot site. Built in 1965, the property is zoned RTAIL and includes a three-way billboard leased to a sign company, with the lease approaching renewal.
The site occupies the southwest corner of 79th Street and Southwest Highway at a four-way signalized intersection. Four curb cuts provide access, with two positioned on Southwest Highway and two on 79th Street. Southwest Highway also meets Kedzie Avenue approximately one-half block east of the property, placing the site within a densely populated area characterized by high traffic and daytime activity.
The site occupies the southwest corner of 79th Street and Southwest Highway at a four-way signalized intersection. Four curb cuts provide access, with two positioned on Southwest Highway and two on 79th Street. Southwest Highway also meets Kedzie Avenue approximately one-half block east of the property, placing the site within a densely populated area characterized by high traffic and daytime activity.
Key Highlights
- 2,158‑square‑foot freestanding building on an approximately 13,171‑square‑foot site
- Southwest corner of 79th Street and Southwest Highway
- Four‑way signalized intersection with high traffic and daytime activity
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,855
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$597,100
$597.1K
Cap Rate 7%
$426,500
$426.5K
Cap Rate 9%
$331,722
$331.7K
Market Conditions
NOI Build-Up for 2,158 SF
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.
Gross rent
$46.6K $21.60/SF
− Vacancy
−$4.0K −$1.84/SF
EGI
$42.7K $19.76/SF
− OpEx
−$12.8K −$5.93/SF
NOI
$29.9K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$597,100
Cap Rate 7%
$426,500
Cap Rate 9%
$331,722
Alternative Uses
Best Use
Retail
$426.5K
$373.2K – $497.6K
NOI $29,855 @ 7.0% cap · market cap 6.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$890.3K – $1.19M
NOI $71,224 @ 7.0% cap · market cap 15.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
47k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Dining 18%
Chase Bank
Shops & Services
14,083 visits/mo
0.5 miles
Shell
Shops & Services
9,171 visits/mo
0.4 miles
Burger King
Dining
8,568 visits/mo
0.2 miles
Citgo
Shops & Services
8,451 visits/mo
0.5 miles
AutoZone
Shops & Services
4,427 visits/mo
0.4 miles
Demographics for 60652, IL
40,898
Population
13,709
Households
3
Avg Household Size
37
Median Age
22%
College-Educated
81%
High-School Grad
4.8 sq mi
ZIP Area
8,520
Density / Sq Mi
$78,559
Median Household Income
$36,488
Median Earnings
$1,208
Median Rent
$235,000
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding retail building with multiple curb cuts and an on-site billboard lease.
Where is this storefront property located?
The property is located at 3247 W 79th Street Chicago, IL.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: 2,158‑square‑foot freestanding building on an approximately 13,171‑square‑foot site; Southwest corner of 79th Street and Southwest Highway; Four‑way signalized intersection with high traffic and daytime activity
