400 East Randolph Street, Chicago, IL 60601
Turnkey restaurant with prime location and breathtaking views.
- Added:
- Mar 8, 2023
- Days on Market:
- 1172
- Last Refresh:
- Apr 3 at 4:56 am
Property Features for 400 East Randolph Street
General Information
- Standard status
- Active
- Size
- 2,425 SF
- Property subtype
- SCR, SCR-REST
Building Details
- Year Built
- 1963
Listing agent Manny Regalado (312) 730-2029
Listing office Keller Williams ONEChicago (312) 730-2029
Listing date Mar 8, 2023
Source Realnex
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 Keller Williams ONEChicago
HighLights
- Prime Location in Lakeshore East, located in the 400 East Randolph building near Millennium Park.
- Established Restaurant with 22+ years of operation, including licenses and FF&E.
- Breathtaking Views from the exclusive outdoor seating area overlooking Millennium Park and the skyline.
- Comprehensive Amenities including a pool, workout facility, spa, and private parking.
- Modern Upgrades featuring new equipment, LED lighting, and a professional stage.
- Efficient Operations with low operating expenses and included services.
Overview
Financial Insights
Value Estimation Calculated for Specialty Retail
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.0k | $26.40 |
| − Vacancy | −$3.8k | −$1.58 |
| EGI | $60.2k | $24.82 |
| − OpEx | −$15.0k | −$6.20 |
| NOI | $45.1k | $18.61 |
Alternative Use Scenarios
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6166772
- Latitude
- 41.8849954