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 Market123
Property Features for 11055 W Roosevelt Road
General Information
Property type
Commercial Sale
Property subtype
Other
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
(708) 798-1111
Added: Apr 20
Changed: Aug 20
Last Checked: Aug 20 at 3:06PM
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 was completed in 2021 and contains approximately 3,500 square feet within a purpose-built layout. The property includes two outdoor dining patios, central air, prominent signage, and an interior configured for restaurant operations. Its newer construction supports a relatively recent physical setup with limited deferred maintenance noted in the property information.
The building occupies an approximately 11,000-square-foot lot along Roosevelt Road in Westchester, with about 25 parking spaces serving the site. The property is presented as a restaurant asset, while the existing business and its operating components may be addressed separately. The space can accommodate continued restaurant use or a different food-service concept, subject to applicable approvals and transaction terms.
The building occupies an approximately 11,000-square-foot lot along Roosevelt Road in Westchester, with about 25 parking spaces serving the site. The property is presented as a restaurant asset, while the existing business and its operating components may be addressed separately. The space can accommodate continued restaurant use or a different food-service concept, subject to applicable approvals and transaction terms.
Key Highlights
- Approximately 3,500 SF standalone restaurant completed in 2021
- Approximately 11,000 SF lot along Roosevelt Road
- Two outdoor dining patios for seasonal seating
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
Retail
$579.6K
$507.2K – $676.2K
NOI $40,572 @ 7.0% cap · market cap 2.70%
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
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
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
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 standalone restaurant with prominent roadside signage, seasonal patio seating, and a dedicated customer parking area.
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: Approximately 3,500 SF standalone restaurant completed in 2021; Approximately 11,000 SF lot along Roosevelt Road; Two outdoor dining patios for seasonal seating
