Multi-Unit Brick Restaurant
For Sale
$550,000
7-11 N Elmwood Drive N, Aurora, IL 60506
Commercial Sale, Aurora, IL
Property Size3,000 SF
Lot Size0.14 Acres
Price / SF$183.33
Days on Market83
Property Features for 7-11 N Elmwood Drive N
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
COMMR
Directions
From I-88 go South on Lake (Rt. 31) to Galena Blvd. right or west to Elmwood. Property is immediately on the right or eastside of street. From south starting at Oswego take Route 31 to Galena Blvd. go left or west to Elmwood turn right or north. Property is immediately on the right or eastside of street.
Subdivision
Aurora / Eola
Standard status
Active
APN
1521151013
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6913
Utilities
Cooling system
Central Air
Amenities
grease trap
dry storage
walk-in coolers
freezer/coolers
prep tables
oven
scullery sinks
overhead door
Building Details
Year built
1964
Floors in Building
1
Number of units
2
Building materials
Brick
Listing Agency:
Keller Williams Innovate · Keller Williams Realty
(630) 423-8223
Listed By:
Ray Garcia · License #475154811
(630) 369-9000
Added: Jul 16
Changed: Sep 5
Last Checked: Oct 6 at 4:06PM
MLS# 12708575
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.
This 3,000+ square foot brick commercial building dates to 1964 and is configured for multiple restaurant operations. The property includes a primary restaurant area with kitchen equipment, a second unit leased to an ice cream business, and an adjacent taco business. Existing improvements include a grease trap, walk-in coolers, freezer/coolers, prep tables, an oven, scullery sinks, dry storage, and an overhead delivery door. Central air serves the building, and the property provides 11 dedicated off-street parking spaces.
Located at 7-11 N Elmwood Drive N in Aurora, the property sits immediately north of North Elmwood and West Galena Boulevard. West Aurora High School and Aurora University are located nearby, with residential surroundings contributing to the local customer base. The site is zoned COMMR and encompasses 0.1414 acres.
Located at 7-11 N Elmwood Drive N in Aurora, the property sits immediately north of North Elmwood and West Galena Boulevard. West Aurora High School and Aurora University are located nearby, with residential surroundings contributing to the local customer base. The site is zoned COMMR and encompasses 0.1414 acres.
Key Highlights
- 3,000+ SF brick building on 0.1414 acres
- Multi‑unit restaurant configuration with a leased ice cream unit and adjacent taco business
- 11 dedicated off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,070
Cap Rate
6.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$761,400
$761.4K
Cap Rate 7%
$543,857
$543.9K
Cap Rate 9%
$423,000
$423.0K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$54.0K $18.00/SF
− Vacancy
−$3.2K −$1.08/SF
EGI
$50.8K $16.92/SF
− OpEx
−$12.7K −$4.23/SF
NOI
$38.1K $12.69/SF
Area
Aurora, IL
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$761,400
Cap Rate 7%
$543,857
Cap Rate 9%
$423,000
Alternative Uses
Best Use
Specialty Retail
$543.9K
$475.9K – $634.5K
NOI $38,070 @ 7.0% cap · market cap 6.92%
Second Best
Retail
$416.2K
$364.2K – $485.6K
NOI $29,137 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$858.9K
$751.5K – $1.00M
NOI $60,120 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
536
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60506, IL
52,011
Population
18,204
Households
2.9
Avg Household Size
36
Median Age
29%
College-Educated
84%
High-School Grad
21.2 sq mi
ZIP Area
2,453
Density / Sq Mi
$76,105
Median Household Income
$38,341
Median Earnings
$1,305
Median Rent
$246,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Multi-unit configuration includes restaurant equipment, grease-trap infrastructure, and dedicated off-street parking.
Where is this conventional restaurant located?
The property is located at 7-11 N Elmwood Drive N Aurora, IL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 3,000+ SF brick building on 0.1414 acres; Multi‑unit restaurant configuration with a leased ice cream unit and adjacent taco business; 11 dedicated off‑street parking spaces
