Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    10 W Grand Ave Lake Villa, IL 60046

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Restaurant and bar in Lake Villa, ready for immediate operations.

    Lot size:
    17,424.00 Acres

    Property Features for 10 W Grand Ave

    General Information

    Standard status
    Active
    Zoning
    COMMR
    Lot size
    17,424.00 Acres

    Building Details

    Year built
    1955

    We can help!

    Listing Contact
    Benjamin Lovinger
    Source: Crexi

    Listing Agency: Baird & Warner Libertyville Listing Agent: Benjamin Lovinger

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Turn-Key Restaurant and Bar Opportunity

    This turn-key restaurant and bar is located at 10 W Grand Avenue in Lake Villa. The establishment features a large rectangular bar designed for high-volume service, equipped with multiple televisions and a commercial equipment package. The layout includes seating for 100 guests in the main dining area, plus a private dining room that accommodates up to 12. The property also features a large kitchen designed for speed and high table turnover. The beverage program is supported by walk-in coolers and a professional glycol tap system. A central AV control system manages all music and television displays throughout the building. This setup is suited for immediate operations in an underserved area.
    Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Villa
    County
    Lake
    State
    Illinois
    Longitude
    -88.0615
    Latitude
    42.4132

    Nearby Similar for Sale

    • $779,000

      Cedar View Plaza Office Building

      Professional office building with warehouse and ample parking near Metra.
      95 W Grand Ave, Lake Villa, IL 60046
      View Details
    • $1,100,000

      Turn-Key Restaurant and Bar Opportunity

      Restaurant and bar in Lake Villa ready for immediate operations.
      10 W Grand Ave, Lake Villa, IL 60046
      View Details
    • Contact for pricing
      2,929 SF

      Lake Villa Flex Condo For Sale

      2,909 SF flex condo with office and warehouse space.
      500 Park Ave, Lake Villa, IL 60046
      View Details
    • $3,250,000
      16,299 SF

      Lake Villa Retail Opportunity

      Retail property for sale in Lake Villa, Illinois.
      855 E Grand Ave, Lake Villa, IL
      View Details
    • Contact for pricing
      5,788 SF

      Versatile Commercial Property on Milwaukee Ave

      Contractor property with office, shop space, and fenced yard.
      35220 N Illinois 83, Lake Villa, IL 60046
      View Details
    • Contact for pricing
      15,300 SF

      Cedar View Plaza Office Building

      Professional office building with warehouse, ample parking, and conversion potential.
      95 W Grand Ave, Lake Villa, IL 60046
      View Details
    • Contact for pricing
      1 SF

      850 Tower Dr, Lake Villa, IL 60046

      Shopping centers • 1 SF
      850 Tower Dr, Lake Villa, IL 60046
      View Details

    FAQs

    What type of property is this?
    Restaurant - Restaurant and bar in Lake Villa, ready for immediate operations.
    Where is this restaurant located?
    The property is located at 10 W Grand Ave Lake Villa, IL.
    What are key features of this property?
    This property features: - Turn-key restaurant and bar ready for immediate operation, skipping the build-out phase.; - High-volume rectangular bar with multiple televisions and a professional commercial equipment package.; - Seating for 100 guests in the main dining area plus a private dining room for 12.
    Request Owner's contact information
    10 W Grand Ave Lake Villa, IL 60046
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    10 W Grand Ave
    Lake Villa, IL 60046
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    10 W Grand Ave Lake Villa, IL 60046
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Benjamin Lovinger
    Real Estate License ID: 475198374
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!