3247 W 79th St
3247 W 79th St | Chicago, IL 60652
$499,000
Sale Price
Property Details
| Sale Price: | $499,000 |
| Property Type: | Retail |
| Building Size: | 2,158 SF |
Property Description
+/-2,158sf freestanding building on an approximately 13, 171sf site. The property is located at the Southwest Corner of 79th St & Southwest Hwy. A hard corner with a 4-way signalized intersection. The site is has four curb cuts. Two on Southwest Hwy. and two on 79th St. Southwest Hwy also intersects with Kedzie Ave a half block east of the site. High traffic intersection and high daytime traffic. In addition to the freestanding building, there is also a 3-way billboard sign on the site that is leased to a sign company. The rent for the billboard is approximately $10,000/yr. Rent is based on a percentage of the revenue stream the sign generates. The lease is up for renewal soon so terms might be able to be renegotiated.
The densely populated area and high traffic offers an opportunity for the right investor or user for this property.
Location Description
1
Highlights
- - Located at the Southwest Corner of 79th St & Southwest Hwy
- - Hard corner with a 4-way signalized intersection
- - Four curb cuts (two on Southwest Hwy, two on 79th St)
- - High traffic intersection with high daytime traffic
- - 3-way billboard sign on the site, leased to a sign company
- - Lease up for renewal, potential for renegotiation
Map
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| 1 Miles | 3 Miles | 5 Miles | |
|---|---|---|---|
| Total households | 8,406 | 87,070 | 224,716 |
| Total population | 26,700 | 259,465 | 646,509 |
| Persons per household | 3.2 | 3 | 2.9 |
| Average household income | $88,779 | $79,457 | $80,107 |
| Per capita income | $27,743 | $26,485 | $27,623 |
| Average house value | $254,913 | $242,400 | $258,244 |
| Average age | 39 | 39 | 39 |
| Average age male | 38 | 37 | 38 |
| Average age female | 40 | 40 | 40 |
| Population hispanic | 45.3% | 47.2% | 42.6% |
| Population non-hispanic | 14,594 | 137,077 | 370,826 |
| Population white | 9.6% | 20.0% | 24.8% |
| Population black | 49.7% | 37.6% | 35.6% |
| Population american indian | 2.2% | 2.0% | 1.9% |
| Population asian | 0.4% | 0.7% | 1.4% |
| Population pacific islander | 0.0% | 0.0% | 0.0% |
| Population other | 24.9% | 25.1% | 22.7% |