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About the Listing 87738 - 875482
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.
Listing Highlights
Status
Active
Days on Site
44
Property Type
Commercial Sale
MLS ®
12621976
Year Built
2005
Total Square Footage
7,600
Lot/Acreage
0.45
County
Cook
Area
CHI - Chatham
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Central Air
- Heating: Forced Air
- Fireplaces:
- Floor: Concrete,Tile
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 125X157
- Zoning: COMMR
- Roof:
- Others:
- Sewer:
- Parking Features: 19-30 Spaces
Financial Details
- Tax Amount: $7,241
- Taxes w/Assessments: N/A
- Tax/Property ID: 20332010030000
- Tax Year: 2023
Payment Calculator
Monthly Payment
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Questions About..
301 W 79th St Chicago, IL 60620
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