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    1500-1502 N Wells St Chicago, IL 60654

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    For Sale
    Contact for pricing

    Second-generation restaurant space in Chicago's Old Town neighborhood.

    Property size:
    10,234 SF
    Lot size:
    0.06 Acres

    Property Features for 1500-1502 N Wells St

    General Information

    Size
    10,234 SF
    Lot size
    0.06 Acres

    Source: Canvas Real Estate Agent Andrew Becker

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Prime Old Town Restaurant Space

    Located at 1500 N. Wells Street in Chicago’s Old Town neighborhood, this property offers a 10,234 square feet second-generation restaurant space. The building is situated on the prime block of Wells Street, benefiting from the presence of established food and beverage businesses. The space includes two fully built-out kitchens and three bars. The property is available for lease or sale.
    Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Robertglenn Catering, Spoonfuls Catering, LunchBots, Soderra Inc, Emery Hospitality

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6349876
    Latitude
    41.9092483

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    FAQs

    What type of property is this?
    Restaurant - Second-generation restaurant space in Chicago's Old Town neighborhood.
    Where is this restaurant located?
    The property is located at 1500-1502 N Wells St Chicago, IL.
    What are key features of this property?
    This property features: - Prime location on Wells Street in Old Town.; - 10,234 square feet of space.; - Second generation restaurant space.
    (312) 231-2600
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1500-1502 N Wells St Chicago, IL 60654
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