Building Details

Building Size 3,880 SF

Stories 1

Listing Agency: Coldwell Banker Realty

Listed By: Cookie Zeleznik · License #475087535 Show Phone

Source: Evrealestate

Added: Aug 17, 2023 Changed: Oct 2 Last Checked: Oct 16 at 6:14AM

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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

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Investment Insights

Based on property information with market context.

The property is located off Torrence Avenue, west of the 140th Street stop light. Continue west to the river, then turn left and go south to the end of Croissant Drive. The property is a waterfront restaurant and bar.

Key Highlights

• Waterfront location
• Proximity to Waterfront Restaurant and Bar
• Located at the end of the road

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$72,215

Cap Rate

7.26%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,444,300 $1.4M

Cap Rate 7%

$1,031,643 $1.0M

Cap Rate 9%

$802,389 $802.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,880 SF

Gross rent

$102.4K $26.40/SF

− Vacancy

−$6.1K −$1.58/SF

EGI

$96.3K $24.82/SF

− OpEx

−$24.1K −$6.20/SF

NOI

$72.2K $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 Rate 5%

$1,444,300

Cap Rate 7%

$1,031,643

Cap Rate 9%

$802,389

Alternative Uses

Best Use

Specialty Retail

$1.03M

$902.7K – $1.20M (±1% cap)

NOI $72,215 @ 7.0% cap · market cap 7.26%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.83M

$1.60M – $2.13M (±1% cap)

NOI $128,059 @ 7.0% cap · market cap 12.87%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

ATM Atm Waterfront Marine Inc Bar & Pub

Suggested Use

Top Pick Real Estate Agency Building Supply Dental Office Law Firm Restaurant Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

150

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 60633, IL

13,359

Population

5,713

Households

2.3

Avg Household Size

39

Median Age

14%

College-Educated

84%

High-School Grad

9.7 sq mi

ZIP Area

1,377

Density / Sq Mi

$56,875

Median Household Income

$42,471

Median Earnings

$1,166

Median Rent

$182,100

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Similar Off Market Nearby

• Little Brown Jug — 14540 S Torrence Ave, Burnham, IL 60633
• Waterfront Marine Inc — 14042 S Croissant Dr, Burnham, IL 60633

Frequently Asked Questions

What type of property is this?

Bar & Pub - Restaurant and bar located on the waterfront.

Where is this bar & pub located?

The property is located at 14042 S Croissant Drive Burnham, IL.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: Waterfront location; Proximity to Waterfront Restaurant and Bar; Located at the end of the road