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    7842 Western Ave Chicago, IL 60620

    For Lease
    $18 SF/Yr ($14,235 /Mo)

    High-traffic Chicago retail space available.

    Lot size:
    9,490 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional retail property, located at 7842 S Western Ave in Chicago, IL 60620, offers a prime opportunity for businesses seeking high visibility and foot traffic. The 9,490 square foot building sits on a 0.35-acre lot and is zoned B3-1. Currently, there are three suites available, with a minimum divisible space of 1,230 square feet and a maximum contiguous space of 2,100 square feet. A significant portion of the building, totaling 4,730 square feet, is currently vacant, presenting a unique chance for expansion or multiple tenants. The property benefits from its strategic location directly across from the 79th & Western Avenue CTA Bus Terminal, ensuring consistent exposure to a large customer base. Ample parking is available, further enhancing convenience for both customers and employees. The surrounding area boasts a dense population and high vehicular traffic, with numerous established businesses including Aldi Foods, CVS, McDonald's, Sprint, Subway, and Citibank, creating a thriving commercial environment within Chicago's Ashburn Community. This property is ideal for a variety of retail uses and represents a strong investment opportunity in a high-demand location. Cook County location.

    Property Features for 7842 Western Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    9,490 SF
    Total Rate
    14235

    Unit(s) available at that property

    Space
    7832 S Western Ave
    Size
    2,100 SF
    Rate per SF
    $18
    Space
    7830 S Western Ave
    Size
    1,230 SF
    Rate per SF
    $18
    Space
    7836 S Western Ave
    Size
    1,400 SF
    Rate per SF
    $18

    HighLights

    • 9,490 SF retail building on a 0.35‑acre lot in Chicago's Ashburn community.
    • B3‑1 zoning.
    • Three suites available, 1,230 SF minimum, 2,100 SF maximum contiguous.
    • 4,730 SF of vacant space available.
    • High visibility location across from the 79th & Western Ave CTA Bus Terminal.
    • Ample parking.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Oxford Auto Insurance Auto Insurance Agency Bank of America ATM Atm

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6833646
    Latitude
    41.7506474

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    FAQs

    What type of property is this?
    Retail property - High-traffic Chicago retail space available.
    Where is this retail property located?
    The property is located at 7842 Western Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: 9,490 SF retail building on a 0.35-acre lot in Chicago's Ashburn community.; B3-1 zoning.; Three suites available, 1,230 SF minimum, 2,100 SF maximum contiguous.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7842 Western Ave Chicago, IL 60620
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