301 W 79th Street, Chicago, IL 60620

• 7,600 sqft

Property 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.

Listing Status:

Active

Data Last Updated:

May 22, 2026 at 6:18AM

Listing Office:

Keller Williams ONEChicago : 313-303-2483

Listing Agent:

Brittany Ramsey : 313-303-2483

MLS ID:

12621976

Interior

• Flooring: ConcreteTileOther
• A/C: Central Air

Construction

• General: Concrete Perimeter

Location

• Road/Access: City StreetPublic RoadSignal IntersectionFrontage Road
• HOA Amenities: Not Applicable
• Originating MLS: mred
• County: Cook

Lot

• Zoning: COMMR20332010030000
• Current Use: Commercial

Utilities

• Utilities: Electric to SiteNatural Gas AvailableCircuit Breakers

Financial

• Source: mred