Beverly Retail Property on
For Sale
$650,000
10350 S Western Ave, Chicago, IL 60643
Highly visible retail property in Chicago's Beverly neighborhood.
Property Size3,996 SF
Price / SF$162.66
Days on Market173
Property Features for 10350 S Western Ave
General Information
Standard status
Active
Size
3,996 SF
Building Details
Year Built
1950
Listing Agency:
Brookline Real Estate LLC
Listed By:
William Lundy
Source:
Liveliferealty
Added: Mar 26
Changed: Sep 8
Last Checked: Sep 13 at 4:33PM
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 Brookline Real Estate LLC
Investment Insights
Based on property information with market context.
This 3,996 square-foot retail property is located in Chicago's Beverly neighborhood, positioned on Western Avenue near 103rd Street. The property is suitable for restaurant use and is currently built out as a bar. The location benefits from its position on Western Avenue near the intersection at 103rd Street, close to Ridge Country Club Golf Course in West Beverly. The site is located along an active trade corridor with heavy vehicle and foot traffic. The building is located directly at a PACE Bus stop and blocks from I-57 and a Metra Train Station. The property has a 3,000 square-foot basement that can be used for storage or offices. It features a walk-in cooler and fully operational beer lines. A 4AM liquor license is included with transfer of LLC. The property is located on a growing business corridor with traffic counts of 25,800.
Key Highlights
- Grandfathered 4AM liquor license with transfer of LLC.
- High‑visibility location on Western Avenue near 103rd Street with traffic counts of 25,800.
- Strong transit‑oriented location: directly at a PACE Bus stop and blocks from I‑57 and a Metra Train Station.
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
$55,284
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
8.51%
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%
$1,105,680
$1.1M
Cap Rate 7%
$789,771
$789.8K
Cap Rate 9%
$614,267
$614.3K
Market Conditions
NOI Build-Up for 3,996 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
$86.3K $21.60/SF
− Vacancy
−$7.3K −$1.84/SF
EGI
$79.0K $19.76/SF
− OpEx
−$23.7K −$5.93/SF
NOI
$55.3K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,105,680
Cap Rate 7%
$789,771
Cap Rate 9%
$614,267
Alternative Uses
Best Use
Specialty Retail
$1.06M
$929.7K – $1.24M
NOI $74,374 @ 7.0% cap · market cap 11.44%
Second Best
Retail
$789.8K
$691.1K – $921.4K
NOI $55,284 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$1.88M
$1.65M – $2.20M
NOI $131,887 @ 7.0% cap · market cap 20.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
973
Businesses Nearby
90k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Dining 49%
Buona
Dining
13,078 visits/mo
0.4 miles
Sparkle Express Car Wash
Shops & Services
11,912 visits/mo
0.3 miles
BP
Shops & Services
10,957 visits/mo
0.1 miles
Shell
Shops & Services
9,896 visits/mo
0.5 miles
The Original Pancake House
Dining
9,817 visits/mo
0.1 miles
Demographics for 60643, IL
47,831
Population
19,541
Households
2.4
Avg Household Size
44
Median Age
39%
College-Educated
93%
High-School Grad
7.4 sq mi
ZIP Area
6,464
Density / Sq Mi
$83,015
Median Household Income
$53,155
Median Earnings
$1,359
Median Rent
$233,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Chicago, IL
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Similar Off Market Nearby
- Kelly's Tap — 10910 s western ave, chicago, il 60643
- Dingers Sports Bar — 10638 S Western Ave, Chicago, IL 60643
- Cork & Kerry — 10614 S Western Ave, Chicago, IL 60643
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- Ridge Country Club — 10522 s california ave, chicago, il 60655
Frequently Asked Questions
What type of property is this?
Bar & Pub - Highly visible retail property in Chicago's Beverly neighborhood.
Where is this bar & pub located?
The property is located at 10350 S Western Ave Chicago, IL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Grandfathered 4AM liquor license with transfer of LLC.; High‑visibility location on Western Avenue near 103rd Street with traffic counts of 25,800.; Strong transit‑oriented location: directly at a PACE Bus stop and blocks from I‑57 and a Metra Train Station.
