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    Property profile & analytics

    2036 W 79Th St Chicago, IL 60620

    • Retail space
    • 11,077 SF
    • 0.31 lot acres
    For Sale
    View listing
    $875,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2038629
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Golden Gate Funeral Home / Funeral Home

    Property Details for 2036 W 79Th St

    Year built
    1955
    Lot size
    0.31 lot acres
    Property size
    11,077 SF
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    20-30-316-052
    APU
    2030316052

    Description

    This exceptional investment opportunity presents a 12,690 square foot, two-story commercial building situated on a 0.76-acre lot (33,174 sq ft) at 2036 W 79th St, Chicago, IL 60620. Built in 1960, the property currently operates as a funeral home with a 100% occupancy rate as of August 9, 2024. The building features a large chapel, multiple viewing rooms, and ample office space, complemented by 43 parking spaces. Its B1-1 zoning allows for a wide range of commercial uses, presenting significant redevelopment potential for investors. The property's prime location in the Auburn Gresham neighborhood offers excellent visibility and accessibility from major thoroughfares, including 79th Street, Western Avenue, and Ashland Avenue, with convenient access to Interstate-94. This fee-simple ownership opportunity is priced at $875,000, translating to $68.95 per square foot. The property is eligible for City of Chicago incentives including the Neighborhood Opportunity Fund and the Small Business Improvement Fund (SBIF), offering potential financial benefits for buyers. This turnkey operation presents a unique chance to acquire a well-established business or to redevelop a strategically located property in a thriving Chicago neighborhood. The property is a single-unit building with a single tenant.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $415,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6747
    Latitude
    41.7505
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $48,287
    $30,289
    $204,476
    $234,765
    -
    $121,156
    $817,904
    $939,060

    Comparable in this City

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      8534 Ashland Ave

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      1919 87th St

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      1919 87th St, Chicago, IL 60620-6051
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    • Value Estimation
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      8127 Halsted St

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      1155 58th W 81st St

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      1155 58th W 81st St, Chicago, IL 60620
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    • Value Estimation
      $335,000
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      1724 89th St

      STORE, RETAIL OUTLET • 0.15 Acres
      1724 89th St, Chicago, IL 60620-4938
      View Details

    Similar Nearby for Sale

    • $100,000
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      High-Visibility Retail Space in Chicago

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      1158 W 87Th St, Chicago, IL 60620
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      Chicago Mixed-Use Investment Opportunity

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    • $480,000
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      West Chatham Retail Investment Opportunity

      Partially occupied retail center in Chicago's West Chatham neighborhood.
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    • $675,000

      7,056 SF Retail Center

      Five-unit retail center with parking on W 79th Street.
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      Versatile Commercial Property, Chicago

      Adaptable commercial space suitable for investors or owner-users.
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    Similar Nearby for Lease

    • Contact for pricing
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      Chicago Retail Space For Rent

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    • $10 SF/Yr
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      Retail Space with I-57 Visibility

      Retail space in community center visible from I-57.
      13053-13085 S Ashland Ave, Calumet Park, IL 60620
      View Details
    • Contact for pricing

      Retail Space in High Traffic

      Commercial space in high-traffic area near shops.
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    • $15 SF/Yr
      1,181 SF

      Retail Space on 79th Street

      New construction retail space with high visibility and frontage.
      1642 W 79Th St, Chicago, IL 60620
      View Details
    • Contact for pricing

      Auburn Gresham Commercial Space Available

      Prime 1,800 sq.ft. space ideal for retail or office use.
      1710 W 79Th St, Chicago, IL 60620
      View Details
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    2036 W 79Th St
    Chicago, IL 60620
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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