2701 79Th StChicago, IL 60652

Property Details for 2701 79Th St

Year built

1957

Lot size

0.21 AC

Property size (Sq ft)

5,900 SF

Property type

Retail properties

Property subtype

Retail space

APN

21-31-106-043

APU

2131106043

Description

This exceptional 14,960 square foot shopping center in Chicago, IL, presents a compelling investment opportunity. Located at 2701 W 79th St, 60652, this fee-simple, Class C property boasts 10 units currently operating at 100% occupancy, generating a strong net operating income (NOI). The property features a gross lease structure with a 19,825 square foot lot and is zoned B1-1. The asking price is $899,900, representing a compelling $60.15 per square foot and an attractive 11.20% cap rate. Significant upside potential exists with projected 15% rental income increases in 2025. Property taxes have been successfully contested and reduced, further enhancing profitability. The high-traffic location benefits from 11,800 vehicles per day (IDOT data). This multi-tenant retail center is situated in the Ashburn neighborhood, known for its residential character and strong sense of community. The property's strong occupancy, favorable lease terms, and projected rental increases make it an ideal addition to any portfolio. The APN is 19362050100000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,787,255

  6.5%

  $2,572,851

  7%

  $2,389,076

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,936,557

  Geo Method

  $1,936,557

• Alternative Use

  Use

  Valuation

  Residential

  $2,170,296

  Hospitality

  $1,987,979

  Educational

  $1,653,976

  Medical

  $1,710,858

  Retail

  $2,572,851

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.7516

Longitude

-87.5587

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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