Turnkey Restaurant Space with
For Lease
Contact for pricing
Pending
49 E Cermak Road, Chicago, IL 60616
Commercial Lease, Chicago, IL
Space Size1,581 SF - 3,162 SF
Days on Market32
Property Features for 49 E Cermak Road
General Information
Property type
Commercial Lease
Property subtype
Retail
Directions
Take I-94Exp W to W Cermak Rd. Take exit 53C from I-94Exp W
Subdivision
CHI - Near South Side
Standard status
Pending
APN
17271010020000
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
43555
Utilities
Cooling system
Central Air
Building Details
Year built
1930
Floors in Building
1
Listing Agency:
Keller Williams ONEChicago · Keller Williams Realty
(312) 216-2422
Listed By:
Anthony Hardy · License #475139834
(312) 216-2422
Added: Jul 22
Changed: Aug 19
Last Checked: Aug 22 at 7:06AM
MLS# 12713382
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Turnkey restaurant space totaling 3,162 SF, purpose-built for high-volume food preparation and service. The layout offers flexibility to lease either 1,581 SF for one restaurant concept or take the entire 3,162 SF premises. Existing commercial kitchen infrastructure includes two 20-foot hoods and one 9-foot hood, fryers, ovens, and high-output cooking lines, plus walk-in coolers, a tilt skillet, a deli slicer, and high-capacity dishwashers supporting multiple preparation and service lines.
Located at 49 E Cermak Road in Chicago’s South Loop area, the property sits along a high-traffic, high-visibility corridor at the convergence of the South Loop, Chinatown, McCormick Place, and Chicago’s lakefront. It is described as about half a block from multiple hotels and steps from McCormick Place and Wintrust Arena, with strong convention and event-driven activity and convenient access to Downtown Chicago and surrounding neighborhoods.
The space is positioned for dine-in, takeout, delivery, and catering operations, with an existing history of restaurant use along the Cermak Road corridor dating back to original use by White Castle in the 1930s.
Located at 49 E Cermak Road in Chicago’s South Loop area, the property sits along a high-traffic, high-visibility corridor at the convergence of the South Loop, Chinatown, McCormick Place, and Chicago’s lakefront. It is described as about half a block from multiple hotels and steps from McCormick Place and Wintrust Arena, with strong convention and event-driven activity and convenient access to Downtown Chicago and surrounding neighborhoods.
The space is positioned for dine-in, takeout, delivery, and catering operations, with an existing history of restaurant use along the Cermak Road corridor dating back to original use by White Castle in the 1930s.
Key Highlights
- 3,162 SF purpose‑built restaurant space at 43–51 E. Cermak Rd, Chicago (South Loop area)
- Lease flexibility for one tenant (full 3,162 SF) or two tenants (1,581 SF each side‑by‑side)
- Substantial kitchen infrastructure: two 20‑ft hoods, one 9‑ft hood, high‑output cooking lines, fryers/ovens, and high‑capacity dishwashers
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Commercial hood
NNN (Triple Net)
Lease Type
$4.80 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
3,628
Businesses Nearby
108k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Hotels & Casinos 31%
Shops & Services 26%
Marriott Marquis Chicago
Hotels & Casinos
33,862 visits/mo
0.3 miles
White Castle
Dining
23,545 visits/mo
0.1 miles
Pizanos Pizza
Dining
13,973 visits/mo
0.3 miles
Chase Bank
Shops & Services
11,972 visits/mo
0.3 miles
CD One Price Cleaners
Shops & Services
8,402 visits/mo
0.1 miles
Demographics for 60616, IL
54,013
Population
26,912
Households
2
Avg Household Size
38
Median Age
53%
College-Educated
86%
High-School Grad
3.8 sq mi
ZIP Area
14,214
Density / Sq Mi
$77,841
Median Household Income
$53,415
Median Earnings
$1,329
Median Rent
$387,300
Median Home Value
Market
Lease Benchmarks for Chicago, IL
$28.81 /SF/Yr
Avg Asking Price
$18–$55 /SF/Yr
Price Range
3,820 SF
Avg Space Size
This space is priced 11% above the average of $28.81 /SF/Yr.
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Built-out restaurant space with multiple hood systems, walk-in coolers, and high-capacity dishwashing, offered as 1,581 SF or 3,162 SF.
Where is this conventional restaurant located?
The property is located at 49 E Cermak Road Chicago, IL.
What are key features of this property?
This property features: 3,162 SF purpose‑built restaurant space at 43–51 E. Cermak Rd, Chicago (South Loop area); Lease flexibility for one tenant (full 3,162 SF) or two tenants (1,581 SF each side‑by‑side); Substantial kitchen infrastructure: two 20‑ft hoods, one 9‑ft hood, high‑output cooking lines, fryers/ovens, and high‑capacity dishwashers
