Listing provided courtesy of Chicago Real Estate ResourcesMREDas Distributed by MLSGrid- MLS# 12654486MLS Provider

Chicago, IL 60657

Commercial · 2,176 Sq. ft.
$649,000 Active

Overview

Time on Site:
40 days
Visits:
0

***TURNKEY RESTAURANT OPPORTUNITY | EAST LAKEVIEW | BELOW-MARKET LEASE 2,176 SF | 80 Seats | Ground Floor | 42-Story High-Rise | Belmont Ave ** Rare opportunity to assume a below-market lease in one of Chicago's strongest dining corridors, with current total rent of approximately $5,600/month against a submarket average of $7,400+/month NNN for comparable spaces. With 18,000-25,000 vehicles per day, dense residential population, commuter traffic off Lake Shore Drive, and direct proximity to Belmont Harbor, the Lakefront Trail, and Wrigleyville. The space is fully turnkey following a $600,000+ buildout completed in 2020, encompassing the commercial kitchen, draft beer line system, decor, branding, and operational infrastructure. The lease includes two ADA-compliant restrooms, one dedicated garage parking space, and a recently renewed liquor license. The sale includes significant business assets: a transferable customer database of 55,000+ email and SMS subscribers, 25,000+ social media followers, along with established branding, recipes, a website, marketing assets, and operational systems. Value-add opportunities exist through expanded operating hours, catering, private events, alcohol sales, delivery, and retail products. This is an ideal acquisition for an owner-operator, restaurant group, cafe concept, cocktail lounge, or hospitality operator seeking a proven, high-visibility location in East Lakeview. Please do not contact on-site staff directly. Click on Additional Information to download the brochure.

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Facts & Features

  • Type Commercial
  • Sq. ft. 2,176
  • Price/Sq.ft. $298

Details

General

Income/Expenses

  • Existing Lease Type: Gross
  • Operating Expense: 0

Business Information

  • Business Type: Restaurant

Location/Region

  • County Or Parish: Cook
  • MLS Area Major: CHI - Lake View

Rent/Lease Information

  • Tenant Pays: Air Conditioning, Electricity, Heat, Trash Collection

Tax Information

  • Tax Annual Amount: $0.00
  • Tax Year: 2024

General Information

  • Property Type: Business Opportunity

Interior

Building Interior

  • Building Area Total: 2176

General Information

  • Cooling: Central Air, Central Individual
  • Stories: 42

Unit Information

  • Unit SqFt.: 2176

Exterior

Lot Information

  • Additional Parcels: No
  • Lot Size Dimensions: 18150
  • Lot Size Square Feet: 18150

Neighborhood

Community

60657 (Chicago) Demographics

31
Median Age
23,068
Population Density (per sq. mile)
87%
College Educated
$94,722
Estimated Median Income
14,173
Estimated Total Home Owners
22,758
Estimated Total Renters
38% / 62%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

Monthly Cost

$
$ %
%
$
$
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

Market Data

Based on the last 30 days in this zip code

$983,928
Average List Price
$754
Average Price per Square Foot
101
Properties Sold
49
Average Days on Market
228
Properties for Sale
Calculations provided by Reliance Network

History

Date Event Value Agent
5/25/2026Source: MRED Status Change
Active
5/20/2026Source: MRED Added to Database
May 20, 2026