For Sale
$899,900

2701 79Th StChicago, IL 60652

10-Unit Retail Center, 100% Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
125
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.

Highlights

  • 100% occupancy with projected 15% rental increase in 2025.
  • Successfully contested and reduced property taxes.
  • High-traffic location with 11,800 vehicles per day (IDOT data).

Property Details for 2701 79Th St

Property type
Lifestyle centers, Power centers
Square Feet
14,960 SF
Class
C
Units
10

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.750005644444
Longitude
-87.685439748613
2701 79Th St, Chicago, Illinois

FAQs

What type of property is this?
Lifestyle center - 10-Unit Retail Center, 100% Occupancy
Where is the lifestyle center located?
The property is located at 2701 79Th St Chicago, IL.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 100% occupancy with projected 15% rental increase in 2025.; Successfully contested and reduced property taxes.; High-traffic location with 11,800 vehicles per day (IDOT data).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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2701 79Th St
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