$870,000

301 W 79th Street, Chicago IL, 60620

Price per sqft$114.47

Built in2005

Property size7,600 sqft

Property typeCommercial

Listed by Brittany Ramsey with Keller Williams ONEChicago 313-303-2483

Overview

Active

Listed Apr 17, 2026

Updated Aug 11

PRIME 1.2 FAR DEVELOPMENT OPPORTUNITY | COVERED LAND PLAY ON 79TH ST Strategically positioned on a high-visibility corner in West Chatham, this 19,625 sq ft lot offers an elite "Covered Land Play" for the sophisticated investor or developer. Zoned C1-1 with a 1.2 Floor Area Ratio (FAR), the site allows for a theoretical buildable density of up to 23,550 square feet. While you secure permits for a vertical mixed-use expansion, the existing 7,600 sq ft structure provides immediate, stable cash flow to cover all carrying costs. The asset is anchored by established neighborhood staples, including Ivy Jerk Hut, which recently committed to a new 3-year lease with a 3-year renewal option. This commitment, combined with a high-visibility pylon sign and 29 dedicated parking spaces, ensures consistent traffic and long-term viability. The Play: Whether you are looking to stabilize the remaining 3 vacancies (950-1,450 sq ft) for a high-yield hold or leverage the full 1.2 FAR for a landmark redevelopment, this property is priced at a significant basis to move. Motivated Seller | Closing available by June 2026. Contact Listing Agent for full development pro-forma and retail leakage data.

Additional information

MLS^® ID: 12621976

Interior Features

Bedrooms: 0
Cooling: Yes
Basement: No

Exterior Features

Lot Size: 0.45 Acres

Other Property Details

Taxes: $45,328
Tax Frequency: Annually

Listed by Brittany Ramsey with Keller Williams ONEChicago 313-303-2483

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Data is refreshed every 3 hours. Listing last updated 2:32 PM UTC on 8/11/2026.

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