Palos Hills Free Standing
For Sale
$700,000
10331 S Roberts Rd, Palos Hills, IL 60465
Free standing restaurant with patio in Palos Hills, Illinois.
Property Size3,200 SF
Price / SF$218.75
Days on Market271
Property Features for 10331 S Roberts Rd
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Retail
Building Details
Building Size
3,200 SF
Year Built
1988
Listing Agency:
(630) 330-3352
Listed By:
Karen Kulczycki, CCIM, SIOR · License #IL #471020279
(630) 330-3352
Source:
Svnchicago
Added: Nov 21, 2025
Changed: Aug 7
Last Checked: Aug 19 at 5:31AM
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 Karen Kulczycki, CCIM, SIOR
Investment Insights
Based on property information with market context.
This is a freestanding restaurant encompassing approximately 3,200 square feet, including a patio, situated at 10331 S. Roberts Road in Palos Hills, Illinois. The property presents an owner/user opportunity. The interior has a capacity for 150 patrons, complemented by an outdoor patio accommodating approximately 180 guests. Numerous improvements have been made, including updates to the kitchen, hood, HVAC system, roof, bar, plumbing, patio fireplace, entertainment system, restroom addition, parking lot, and digital signage. The on-site parking lot provides 28 surface spaces and is located next to City Hall. Palos Hills is located in Cook County, approximately 26 miles south of Downtown Chicago. The City of Palos Heights has access to the Interstate System, two Metro Stations, and Midway Airport. The property features frontage on Roberts Road.
Key Highlights
- ±3,200 SF Free Standing Restaurant with large patio (seats 180) and indoor capacity for 150.
- Recent renovations including updated kitchen, hood, HVAC, roof, bar, plumbing, patio fireplace, entertainment system, restroom addition, parking lot, and digital signage.
- Onsite parking lot with 28 surface 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
$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
7.65%
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 7.65%
Second Best
Retail
$634.5K
$555.2K – $740.3K
NOI $44,417 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$1.10M
$966.7K – $1.29M
NOI $77,337 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
25k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Beauty & Spa 5%
Thorntons
Shops & Services
24,031 visits/mo
0.4 miles
LA Tan
Beauty & Spa
1,263 visits/mo
0.4 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Valley Inn Catering — 10620 S Roberts Rd, Palos Hills, IL 60465
- S & K Stevens Management Co — 10135 S Roberts Rd # 201, Palos Hills, IL 60465
Frequently Asked Questions
What type of property is this?
Restaurant - Free standing restaurant with patio in Palos Hills, Illinois.
Where is this restaurant located?
The property is located at 10331 S Roberts Rd Palos Hills, IL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: ±3,200 SF Free Standing Restaurant with **large patio (seats 180) and indoor capacity for 150**.; Recent renovations including updated kitchen, hood, HVAC, roof, bar, plumbing, patio fireplace, entertainment system, restroom addition, parking lot, and digital signage.; Onsite parking lot with 28 surface spaces.
