Freestanding Storefront
New
For Sale
$375,000
3751 W 79th Street, Chicago, IL 60652
Corner-site storefront with potential drive-through access and restaurant or office use.
Property Size1,600 SF
Price / SF$234.38
Days on Market5
Property Features for 3751 W 79th Street
General Information
Standard status
Active
Size
1,600 SF
Property subtype
COMMERCIAL
Taxes and HOA fees
Annual Taxes
$11,420
Building Details
Building Size
1,600 SF
Year Built
1955
Listing Agency:
Network Property Managment LLC
(708) 800-6487
Listed By:
Adam Haleem · License #475191917
Source:
Dawnmckennagroup
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 9:22PM
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 1,600-square-foot commercial building occupies a 16,362-square-foot site in Chicago. The property offers a storefront configuration with potential for drive-through operations, supporting restaurant or office use. Built in 1955, the building previously served as a title-loan office.
The property sits at the southwest corner of West 79th Street and Hamlin Avenue, placing it along a busy city street. Its corner position provides a prominent commercial setting for an operator seeking storefront exposure and convenient site access. The existing building and substantial site area create a practical format for a range of commercial applications supported by the property’s current configuration.
The property sits at the southwest corner of West 79th Street and Hamlin Avenue, placing it along a busy city street. Its corner position provides a prominent commercial setting for an operator seeking storefront exposure and convenient site access. The existing building and substantial site area create a practical format for a range of commercial applications supported by the property’s current configuration.
Key Highlights
- 1,600‑square‑foot freestanding commercial building
- 16,362‑square‑foot site
- Potential drive‑through configuration
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
$29,779
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
7.94%
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%
$595,580
$595.6K
Cap Rate 7%
$425,414
$425.4K
Cap Rate 9%
$330,878
$330.9K
Market Conditions
NOI Build-Up for 1,600 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
$42.2K $26.40/SF
− Vacancy
−$2.5K −$1.58/SF
EGI
$39.7K $24.82/SF
− OpEx
−$9.9K −$6.20/SF
NOI
$29.8K $18.61/SF
Area
Chicago, IL
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$595,580
Cap Rate 7%
$425,414
Cap Rate 9%
$330,878
Alternative Uses
Best Use
Specialty Retail
$425.4K
$372.2K – $496.3K
NOI $29,779 @ 7.0% cap · market cap 7.94%
Second Best
Retail
$316.2K
$276.7K – $368.9K
NOI $22,136 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$754.4K
$660.1K – $880.1K
NOI $52,808 @ 7.0% cap · market cap 14.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
534
Businesses Nearby
45k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Dining 5%
Dollar Tree
Shops & Services
20,320 visits/mo
0.2 miles
BP
Shops & Services
12,089 visits/mo
0.4 miles
Citgo
Shops & Services
8,451 visits/mo
0.2 miles
Krystal
Dining
2,363 visits/mo
0.4 miles
Valvoline Instant Oil Change
Shops & Services
1,425 visits/mo
0.5 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Corner-site storefront with potential drive-through access and restaurant or office use.
Where is this storefront property located?
The property is located at 3751 W 79th Street Chicago, IL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,600‑square‑foot freestanding commercial building; 16,362‑square‑foot site; Potential drive‑through configuration
