Frankfort Restaurant with Unique
10211 W Lincoln Hwy, Frankfort, IL 60423
Two-story restaurant with atrium, skylight, and drive-up window.
Type:Retail
Property size:
8,000 SFPrice / SF:
$200/SF- Added:
- May 6, 2021
- Days on Market:
- 1843
- Last Refresh:
- May 19 at 10:13 pm
Property Features for 10211 W Lincoln Hwy
General Information
- Standard status
- Active
- Size
- 8,000 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1993
Listing agent Theron May License #IL 471.019986
Listing office Imperial Realty Company
Listing date May 6, 2021
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Imperial Realty Company
HighLights
- High‑traffic location on Route 30 with over 20,000 vehicles passing daily.
- Large 6,800 sf free‑standing restaurant with two levels of dining, including a glass atrium and vaulted skylight ceiling.
- Fully equipped kitchen ready for immediate use.
- Located in a premier Frankfort community with strong demographics: 41,697 population, 14,125 households, and a median home value exceeding $300,000 within a 3‑mile radius.
- Convenient drive‑up window for phone orders.
- Shared parking and cross easements with surrounding office development.
Overview
This freestanding restaurant property features a 6,800 square foot footprint, offering an ideal setting for fine or casual dining. The unique space includes two levels of dining, with a glass-enclosed atrium on the first floor and a 1,552 square foot dining area under a vaulted skylight ceiling on the second floor. A fully equipped kitchen and a convenient drive-up window for phone orders are also included. The property also features a basement with office and storage space. Shared parking and cross easements are in place with the surrounding office development. The property is located on the newly expanded Route 30 in Frankfort, Illinois, a community with a population of 41,697 within a 3-mile radius and 14,125 households with a median home value exceeding $300,000. Over 20,000 vehicles pass by the building daily. Frankfort's historic downtown features boutiques, restaurants, and community events.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$1.06M
NOI $95,594 @ 9.00% cap · cautious / downside scenario
Moderate
$1.37M
NOI $95,594 @ 7.00% cap · market / base-case scenario
Aggressive
$1.91M
NOI $95,594 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $136.3k | $17.04 |
| − Vacancy | −$8.9k | −$1.11 |
| EGI | $127.5k | $15.93 |
| − OpEx | −$31.9k | −$3.98 |
| NOI | $95.6k | $11.95 |
8,000 SF · lease $17.04/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$1.37M
$1.19M – $1.59M
NOI $95,594 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $127,008 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Conventional restaurants
Location Insight
- Map
- Local Demand
- City
- Frankfort
- County
- Will
- State
- Illinois
- Longitude
- -87.8651499
- Latitude
- 41.5057722
Nearby Similar for Sale
FAQs
What type of property is this?
Conventional restaurant - Two-story restaurant with atrium, skylight, and drive-up window.
Where is this conventional restaurant located?
The property is located at 10211 W Lincoln Hwy Frankfort, IL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: High‑traffic location on Route 30 with over 20,000 vehicles passing daily.; Large 6,800 sf free‑standing restaurant with two levels of dining, including a glass atrium and vaulted skylight ceiling.; Fully equipped kitchen ready for immediate use.
