Drive-Through Restaurant With
For Sale
$550,000
1215 S Wolf Road, Des Plaines, IL 60018
Operating food-service property with outdoor seating, kitchen facilities, and separate garage parcel.
Property Size1,400 SF
Price / SF$392.86
Days on Market1482
Property Features for 1215 S Wolf Road
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Commercial/Industrial
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Business Included
Yes
Drive-Thru
Yes
Taxes and HOA fees
Annual Taxes
$15,945
Building Details
Buildings
2
Listing Agency:
Coldwell Banker Realty
(773) 443-8300
Listed By:
Jack Guest · License #475138340
(773) 443-8300
Source:
Exitrealty
Added: Aug 11, 2022
Changed: Aug 30
Last Checked: Aug 30 at 7:19PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This drive-through restaurant property includes two lots, with the restaurant situated on the front parcel and a separate 2-car garage parcel included. Wolf Road Hot Dogs has operated at the property since 2016 and currently serves customers through the drive-through and outdoor seating areas. New equipment purchased in 2016 is included with the property and business.
The restaurant includes a half bathroom off the kitchen for employees and a full bathroom with exterior access for patrons. The property is located at 1215 S Wolf Road in Des Plaines, Illinois. An adjacent corner lot is identified for potential purchase or lease in conjunction with the sale of the two existing lots.
The restaurant includes a half bathroom off the kitchen for employees and a full bathroom with exterior access for patrons. The property is located at 1215 S Wolf Road in Des Plaines, Illinois. An adjacent corner lot is identified for potential purchase or lease in conjunction with the sale of the two existing lots.
Key Highlights
- Wolf Road Hot Dogs has operated at the property since 2016
- New equipment purchased in 2016 included with the property and business
- Two lots include a restaurant parcel and separate 2‑car garage parcel
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
$23,436
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
4.26%
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%
$468,720
$468.7K
Cap Rate 7%
$334,800
$334.8K
Cap Rate 9%
$260,400
$260.4K
Market Conditions
NOI Build-Up for 1,400 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
$33.6K $24.00/SF
− Vacancy
−$2.4K −$1.68/SF
EGI
$31.2K $22.32/SF
− OpEx
−$7.8K −$5.58/SF
NOI
$23.4K $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%
$468,720
Cap Rate 7%
$334,800
Cap Rate 9%
$260,400
Alternative Uses
Best Use
Specialty Retail
$334.8K
$293.0K – $390.6K
NOI $23,436 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$483.4K
$422.9K – $563.9K
NOI $33,835 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Explore this area
Business Placement
Demographics for 60018, IL
30,051
Population
10,350
Households
2.9
Avg Household Size
40
Median Age
26%
College-Educated
82%
High-School Grad
16.6 sq mi
ZIP Area
1,810
Density / Sq Mi
$85,415
Median Household Income
$40,194
Median Earnings
$1,174
Median Rent
$302,400
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?
Drive through restaurant - Operating food-service property with outdoor seating, kitchen facilities, and separate garage parcel.
Where is this drive through restaurant located?
The property is located at 1215 S Wolf Road Des Plaines, IL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Wolf Road Hot Dogs has operated at the property since 2016; New equipment purchased in 2016 included with the property and business; Two lots include a restaurant parcel and separate 2‑car garage parcel
