1634-1642 79Th St Chicago, IL 60620
- Lifestyle centers
- 8,200 SF
- 0.45 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 1634-1642 79Th St
- Year built
- 2008
- Lot size
- 0.45 lot acres
- Property size
- 8,200 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 8,200 square foot shopping center, located at 1634-1642 W. 79th St in Chicago, IL, presents a compelling investment opportunity. Built in 2008, this multi-tenant property boasts nine units and sits on a 0.45-acre lot. Currently operating under a NNN lease structure, the center offers a strong net operating income (NOI) of $67,928, translating to a 7.55% capitalization rate at an asking price of $900,000. The price per square foot is $109.76. The property benefits from ample parking, recently updated sidewalks and parking lot, and a convenient location just one block west of the high-traffic intersection of 79th and Ashland Avenues in the Auburn Gresham community. Two new leases were signed within the last seven days, indicating strong tenant demand. Current tenants include Go Wireless, Tax Cents, and Coco' Beauty Bar. The property's newer construction and strong cash flow make it an attractive investment, with a pro forma cap rate at full occupancy projected at 16.14%. This well-maintained shopping center offers excellent potential for immediate income and future growth. The property's zip code is 60620, and it is situated in Cook County, Illinois.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6648
- Latitude
- 41.7506
