Sandy Howard
- Buy
- Sell
https://www.ruhlmortgage.com/LawrenceDavis.html
Description
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.
Property Highlights
Property Type: Commercial - Retail
Building Description: 1.0 stories
Year Built: 2005
General Information
County: Cook
Listed By:
Keller Williams ONEChicago
312-216-2422
MRED MLS
MLS ID: 12621976
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301 W 79th Street, Chicago, IL 60620.
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $870,000 | $870,000 | $870,000 |
| Down Payment | $174,000 | $30,450 | $217,500 |
| Monthly Mortgage Amount | $4,062 | $5,190 | $5,288 |
| Taxes | $1211 | $1211 | $1211 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $522 | $0 |
| Monthly Estimated Total | $5,527 | $7,177 | $6,753 |
Sandy Howard
REALTOR®
Office: (563) 242-4602
Cell: (563) 357-7649
Licensed in IA & IL
Clinton Office
301 North Second Street
Clinton, IA 52732
(563) 242-4602
Clinton, IA 52732
(563) 242-4602
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