Freestanding Restaurant with
For Sale
$750,000
10331 S Roberts Rd Palos, Palos Hills, IL 60465
Updated restaurant property with indoor dining, outdoor seating, expanded bar, and on-site parking.
Property Size3,200 SF
Price / SF$234.38
Days on Market194
Property Features for 10331 S Roberts Rd Palos
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
28
Property subtype
Restaurant
Site & Location
Pylon Signage
Yes
Highway Access
Yes
Road Access
Yes
Restaurant
Commercial Hood
Yes
Patio
Yes
Amenities
patio fireplace
entertainment system
Building Details
Building Size
3,200 SF
Year Built
1988
Listing Agency:
SVN | Chicago Commercial
(312) 602-5346
Listed By:
Karen Kulczycki
(312) 602-5346
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 8:11PM
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 SVN | Chicago Commercial
Investment Insights
Based on property information with market context.
This freestanding restaurant contains ±3,200 SF with indoor seating for 150 and an outdoor patio accommodating approximately 180 guests. Improvements include an updated kitchen with hood, newer HVAC, roof work, expanded bar, plumbing upgrades, an additional restroom, patio fireplace, entertainment system, refreshed parking lot, and digital signage. The building was constructed in 1988.
The property fronts Roberts Road at 10331 S Roberts Rd and sits next to City Hall in Palos Hills, Illinois. On-site parking includes 28 surface spaces. The location is approximately 26 miles south of Downtown Chicago, with access to the Interstate System, two Metro Stations, and Midway Airport.
The property fronts Roberts Road at 10331 S Roberts Rd and sits next to City Hall in Palos Hills, Illinois. On-site parking includes 28 surface spaces. The location is approximately 26 miles south of Downtown Chicago, with access to the Interstate System, two Metro Stations, and Midway Airport.
Key Highlights
- ±3,200 SF freestanding restaurant building
- Indoor seating capacity for 150
- Outdoor patio seating for approximately 180
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,568
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,071,360
$1.1M
Cap Rate 7%
$765,257
$765.3K
Cap Rate 9%
$595,200
$595.2K
Market Conditions
NOI Build-Up for 3,200 SF
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.
Gross rent
$76.8K $24.00/SF
− Vacancy
−$5.4K −$1.68/SF
EGI
$71.4K $22.32/SF
− OpEx
−$17.9K −$5.58/SF
NOI
$53.6K $16.74/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,071,360
Cap Rate 7%
$765,257
Cap Rate 9%
$595,200
Alternative Uses
Best Use
Specialty Retail
$765.3K
$669.6K – $892.8K
NOI $53,568 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$966.7K – $1.29M
NOI $77,337 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
905
Businesses Nearby
9k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
PNC Bank
Shops & Services
7,545 visits/mo
0.3 miles
FedEx Office Print & Ship Center
Shops & Services
1,269 visits/mo
0.2 miles
Demographics for 60465, IL
18,530
Population
7,885
Households
2.4
Avg Household Size
42
Median Age
25%
College-Educated
87%
High-School Grad
4.3 sq mi
ZIP Area
4,309
Density / Sq Mi
$83,969
Median Household Income
$50,990
Median Earnings
$1,267
Median Rent
$259,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Updated restaurant property with indoor dining, outdoor seating, expanded bar, and on-site parking.
Where is this conventional restaurant located?
The property is located at 10331 S Roberts Rd Palos Palos Hills, IL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: ±3,200 SF freestanding restaurant building; Indoor seating capacity for 150; Outdoor patio seating for approximately 180
