In 1843 the U.S. government sold 160 acres at the southwest corner of 79th and Halsted for just $200.
By 1912 that same corner had exploded in value — a 125-by-125-foot plot (five standard Chicago lots) sold for $155,000.
In 1918, Kraber’s Market at 7810 S. Halsted sold sugar-cured hams for 25½¢ a pound, round steaks for 26½¢, and short ribs for 17½¢. Families shopped daily at what was already a bustling South Side hub.
The 1920s brought the crown jewel. In 1925 the $1-million Capitol Theatre opened right on Halsted near 79th. Designed by famed architect John Eberson, it featured an atmospheric Roman-villa auditorium, starlit lobby, and giant stage. It became the entertainment heart of Auburn Park.
By 1930 the intersection saw 39,000 people daily. Corners were valued at $1 million or more. In 1931 the S. & H. department store opened a 5,000-square-foot space at the southwest corner.
Then came decline. The Capitol Theatre closed in the late 1970s and was demolished in 1985. Its site remains empty today.
Now? A single 18,445-square-foot commercial building just south of the intersection is valued between $1.8 million and $2.7 million, sitting on a corner with over 26,000 vehicles passing daily.
From $200 for 160 acres of empty prairie to millions for one modern building lot — that’s the raw, relentless story of Chicago growth at 79th and Halsted.
The Essence of Chicagoland Areas 