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    400-424 79Th St Chicago, IL 60620

    For Sale
    $725,000

    Prime South Side location, high visibility, development potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 0.58-acre commercial land parcel, located at 400-424 W 79th St in Chicago's vibrant Auburn Park neighborhood, presents a compelling investment opportunity. Boasting a highly visible hard corner location at the intersection of 79th Street and Vincennes Avenue, this 25,650 square foot site offers 250 feet of frontage on 79th Street. The C1-2 zoning allows for a wide range of development possibilities, with special use permits potentially accommodating uses such as gas stations and quick-service restaurants. This prime location benefits from strong surrounding retail, including established businesses like McDonald's, ALDI, Planet Fitness, and Forman Mills, ensuring high traffic and visibility. The property's 2023 taxes were $12,253. This is an excellent opportunity for developers and investors seeking a strategically located site with significant potential for growth and return. The property is situated just 11 miles from downtown Chicago, within a dense urban area featuring a mix of residential properties, locally owned restaurants, and boutiques. This site offers a unique blend of accessibility, visibility, and development flexibility, making it an ideal investment for those seeking to capitalize on the South Side's burgeoning market.

    Property Features for 400-424 79Th St

    General Information

    Property type
    Land
    Lot Size
    25,265 SF

    HighLights

    • $725,000 asking price for a 0.58‑acre commercial land site.
    • High‑visibility corner lot at 79th St. and Vincennes Ave. with 250 feet of frontage on 79th Street.
    • C1‑2 zoning allows for diverse development options, potentially including gas stations and quick‑service restaurants (QSRs) with special use permits.
    • Excellent investment opportunity for developers and investors.
    • Strong retail presence nearby, including McDonald's, ALDI, Planet Fitness, and Forman Mills.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6344457
    Latitude
    41.750969

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    FAQs

    What type of property is this?
    Land - Prime South Side location, high visibility, development potential.
    Where is this land located?
    The property is located at 400-424 79Th St Chicago, IL.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: $725,000 asking price for a 0.58-acre commercial land site.; High-visibility corner lot at 79th St. and Vincennes Ave. with 250 feet of frontage on 79th Street.; C1-2 zoning allows for diverse development options, potentially including gas stations and quick-service restaurants (QSRs) with special use permits.
    (312) 338-3012
    Request Owner's contact information
    400-424 79Th St Chicago, IL 60620
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    Chicago, IL 60620
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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
    400-424 79Th St Chicago, IL 60620
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