Building Details

Year Built 1999

Listing Agency: BERKSHIRE HATHAWAY HOMESERVICES CHICAGO Show Phone

Listed By: VACILIKI RESS · License #475151518 Show Phone

Source: Corcoran

Added: Sep 16 Changed: Oct 7 Last Checked: Oct 7 at 12:08PM

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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 BERKSHIRE HATHAWAY HOMESERVICES CHICAGO

Investment Insights

Based on property information with market context.

This open-concept restaurant space combines a modern interior with substantial recent improvements. The premises include Black Iron, newer porcelain flooring, updated electrical service, newer HVAC, contemporary ceiling lighting, and two new bathrooms, including one that is ADA compliant. A large kitchen features quartz countertops and room for additional seating, while more than 40 feet of windows face the outdoor dining area.

The property is positioned on the Wells Street corridor in Chicago’s Old Town/Gold Coast area, surrounded by dining, nightlife, and shopping within walking distance. It is across from Old Town Park Apartments and three new luxury rental apartment buildings. The building was constructed in 1999.

Key Highlights

• More than 40 feet of windows overlooking the outdoor dining space
• Open‑concept restaurant layout with large kitchen and quartz countertops
• Two new bathrooms, including one ADA‑compliant restroom

Property Analytics

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Current Use

Fire Bowl Hibachi Restaurant Cafe La Sera Take-out & Catering Can't Believe It's ... Restaurant

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Daycare Center Auto Parts Store Butcher Food Market Nursing Home

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)

Lease Type

$13.20 /SF/Yr

CAM

Location Intelligence

Trade Area within ½ mile

13,246

Businesses Nearby

204k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 62% Groceries 19% Shops & Services 10% Apparel 9%

McDonald's Dining

52,443 visits/mo 0.5 miles

Jewel-Osco Groceries

38,261 visits/mo 0.4 miles

Starbucks Dining

14,037 visits/mo 0.5 miles

Pizanos Pizza Dining

9,491 visits/mo 0.4 miles

Velvet Taco Dining

7,917 visits/mo 0.2 miles

Demographics for 60610, IL

43,794

Population

30,091

Households

1.5

Avg Household Size

34

Median Age

79%

College-Educated

97%

High-School Grad

1.1 sq mi

ZIP Area

39,813

Density / Sq Mi

$105,649

Median Household Income

$82,934

Median Earnings

$2,029

Median Rent

$543,000

Median Home Value

Market

Lease Benchmarks for Chicago, IL

$37.25 /SF/Yr

Avg Asking Price

$18–$88 /SF/Yr

Price Range

4,404 SF

Avg Space Size

This space is priced 136% above the average of $37.25 /SF/Yr.

Vacancy Rate% for Retail in Chicago, IL

9.1% 2019

9.2% 2020

8.8% 2021

8.1% 2022

7% 2023

6.6% 2024

7.4% 2025

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What type of property is this? Where is this conventional restaurants located? What is the lease rate? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Open-concept restaurant premises with upgraded systems, ADA-accessible restrooms, kitchen infrastructure, and outdoor dining space.

Where is this conventional restaurant located?

The property is located at 1143 N Wells Street Chicago, IL.

What is the lease rate?

The lease rate is $88 SF/Yr.

What are key features of this property?

This property features: More than 40 feet of windows overlooking the outdoor dining space; Open‑concept restaurant layout with large kitchen and quartz countertops; Two new bathrooms, including one ADA‑compliant restroom