Standalone Restaurant with Outdoor
For Sale
$1,500,000
11055 W Roosevelt Road, Westchester, IL 60154
Business Opportunity, Westchester, IL
Property Size3,500 SF
Lot Size0.25 Acres
Price / SF$428.57
Days on Market169
Property Features for 11055 W Roosevelt Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
294 to Roosevelt Rd. East to the property
Subdivision
Westchester
Standard status
Active
APN
15201020010000
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
23763
Utilities
Cooling system
Central Air
Building Details
Floors in Building
1
Listing Agency:
Keller Williams Preferred Realty · Keller Williams Realty
(708) 798-1111
Listed By:
Kelley Clute · License #475140785
(773) 653-6306
Added: Apr 20
Changed: Sep 18
Last Checked: Oct 5 at 11:06AM
MLS# 12624215
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 standalone restaurant property was constructed in 2021 and includes approximately 3,500 square feet arranged for restaurant operations. The building sits on an 11,000 SF lot and features a modern restaurant layout, central air, high-visibility signage, two outdoor-dining patios, and approximately 25 parking spaces. Zoning is identified as COMMR.
Positioned along busy Roosevelt Road in Westchester, the property provides a dedicated commercial setting for dine-in service, private events, and seasonal patio use. The improvements were built specifically for restaurant occupancy, with minimal deferred maintenance described for the newer construction. The real estate and restaurant-related FF&E are offered as separate components, with the space also presented as adaptable for alternative restaurant concepts.
Positioned along busy Roosevelt Road in Westchester, the property provides a dedicated commercial setting for dine-in service, private events, and seasonal patio use. The improvements were built specifically for restaurant occupancy, with minimal deferred maintenance described for the newer construction. The real estate and restaurant-related FF&E are offered as separate components, with the space also presented as adaptable for alternative restaurant concepts.
Key Highlights
- Standalone restaurant constructed in 2021
- Approximately 3,500 square feet on an 11,000 SF lot
- Approximately 25 parking spaces
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
$48,597
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
3.24%
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%
$971,940
$971.9K
Cap Rate 7%
$694,243
$694.2K
Cap Rate 9%
$539,967
$540.0K
Market Conditions
NOI Build-Up for 3,500 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
$69.3K $19.80/SF
− Vacancy
−$4.5K −$1.29/SF
EGI
$64.8K $18.51/SF
− OpEx
−$16.2K −$4.63/SF
NOI
$48.6K $13.88/SF
Area
Springfield, IL
Vacancy
6.50%
Lease Rate
$19.80 /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%
$971,940
Cap Rate 7%
$694,243
Cap Rate 9%
$539,967
Alternative Uses
Best Use
Specialty Retail
$694.2K
$607.5K – $810.0K
NOI $48,597 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$859.3K
$751.9K – $1.00M
NOI $60,152 @ 7.0% cap · market cap 4.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
251
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60154, IL
16,895
Population
7,376
Households
2.3
Avg Household Size
48
Median Age
46%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
3,840
Density / Sq Mi
$103,561
Median Household Income
$60,967
Median Earnings
$1,767
Median Rent
$297,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Newer construction restaurant on Roosevelt Road with two seasonal dining areas, central air, and on-site parking.
Where is this conventional restaurant located?
The property is located at 11055 W Roosevelt Road Westchester, IL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Standalone restaurant constructed in 2021; Approximately 3,500 square feet on an 11,000 SF lot; Approximately 25 parking spaces
