Lincoln Park Sports Bar &
For Sale
Contact for pricing
Pending
2249 N Lincoln Avenue, Chicago, IL 60614
Two-story sports bar and grill in Lincoln Park.
Property Size5,994 SF
Days on Market727
Property Features for 2249 N Lincoln Avenue
General Information
Standard status
Pending
Size
5,994 SF
Property subtype
Business for Sale, Retail
Zoning
OTHER
Building Details
Stories
2
Listing Agency:
Kudan Group
Listed By:
Georg Simos · License #IL 475178115
(312) 575-0480
Source:
Crexi
Added: Sep 13, 2024
Changed: Sep 8
Last Checked: Jul 23 at 7:11AM
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 Kudan Group
Investment Insights
Based on property information with market context.
This two-story sports bar and grill is located on Lincoln Avenue in the heart of Lincoln Park's dining and entertainment corridor. The property is being conveyed with an Incidental Liquor and Retail Food licenses. It features a modern build-out with two full bars, a large kitchen, and an AV system. The facade includes an overhead garage-door that opens onto the street. Additional features include a large basement with bathrooms, an office, coolers, and storage space. The property is fully furnished and equipped.
Key Highlights
- Includes Incidental Liquor and Retail Food licenses.
- Prime location on Lincoln Avenue in Lincoln Park's dining and entertainment corridor.
- Modern build‑out with two full bars, large kitchen, and impressive AV system.
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
$111,560
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
7.20%
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%
$2,231,200
$2.2M
Cap Rate 7%
$1,593,714
$1.6M
Cap Rate 9%
$1,239,556
$1.2M
Market Conditions
NOI Build-Up for 5,994 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
$158.2K $26.40/SF
− Vacancy
−$9.5K −$1.58/SF
EGI
$148.7K $24.82/SF
− OpEx
−$37.2K −$6.20/SF
NOI
$111.6K $18.61/SF
Area
Chicago, IL
Vacancy
6.00%
Lease Rate
$26.40 /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%
$2,231,200
Cap Rate 7%
$1,593,714
Cap Rate 9%
$1,239,556
Alternative Uses
Best Use
Specialty Retail
$1.59M
$1.39M – $1.86M
NOI $111,560 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.83M
$2.47M – $3.30M
NOI $197,831 @ 7.0% cap · market cap 12.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,303
Businesses Nearby
116k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 32%
Beauty & Spa 11%
Apparel 1%
Taco Bell
Dining
15,053 visits/mo
0.4 miles
Blue Sushi Sake Grill
Dining
10,380 visits/mo
0.2 miles
Chase Bank
Shops & Services
10,060 visits/mo
0.3 miles
Starbucks
Dining
9,706 visits/mo
0.5 miles
7-Eleven
Shops & Services
8,149 visits/mo
0.5 miles
Demographics for 60614, IL
73,173
Population
38,089
Households
1.9
Avg Household Size
31
Median Age
86%
College-Educated
98%
High-School Grad
3.2 sq mi
ZIP Area
22,867
Density / Sq Mi
$139,561
Median Household Income
$86,386
Median Earnings
$2,019
Median Rent
$730,700
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Two-story sports bar and grill in Lincoln Park.
Where is this bar & pub located?
The property is located at 2249 N Lincoln Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Includes Incidental Liquor and Retail Food licenses.; Prime location on Lincoln Avenue in Lincoln Park's dining and entertainment corridor.; Modern build‑out with **two full bars, large kitchen, and impressive AV system.**
