Turn-Key Restaurant
556 N Cicero Avenue Chicago, IL 60644
For Sale
$489,900
Free-standing restaurant building with fully equipped kitchen, finished basement, and updated roof and HVAC.
Property Size2,300 SF
Price / SF$213
Days on Market1239
Property Features for 556 N Cicero Avenue
General Information
- Standard status
- Active
- Size
- 2,300 SF
- Property subtype
- Business Opportunity
Listing Agency:
Northlake Realtors
(708) 562-5689
Listed By:
Rene Aguirre · License #475127208
(708) 562-5689
Source:
Birdrealtysells
Added: Mar 2, 2023
Changed: Jul 23
Last Checked: Jul 23 at 3:47AM
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 Northlake Realtors
Investment Insights
Based on property information with market context.
This turn-key restaurant building offers a fully equipped cooking and prep setup, including a grilling station, open fryers, dishwashing station, and a pizza oven. The property is free-standing with ample parking and includes a full finished basement with storage racks and an office. Updates include a roof that is approximately four years old and HVAC that is approximately two years old, with a new cement parking lot.
The building is positioned on high-traffic Cicero Avenue. The sale price includes the building and parking lot PIN#16092210350000 and also includes the vacant lot south of the restaurant PIN#16092210360000.
The building is positioned on high-traffic Cicero Avenue. The sale price includes the building and parking lot PIN#16092210350000 and also includes the vacant lot south of the restaurant PIN#16092210360000.
Key Highlights
- Free‑standing restaurant building with 2,300 SF and plenty of parking
- Fully equipped kitchen and cooking/prep equipment including grilling station, open fryers, dishwashing station, and pizza oven
- Finished basement with storage on racks and an office
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.7k | $26.40 |
| − Vacancy | −$3.6k | −$1.58 |
| EGI | $57.1k | $24.82 |
| − OpEx | −$14.3k | −$6.20 |
| NOI | $42.8k | $18.61 |
2,300 SF · lease $26.40/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$611.5K
$535.1K – $713.5K
NOI $42,808 @ 7.0% cap · market cap 8.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$948.9K – $1.27M
NOI $75,911 @ 7.0% cap · market cap 15.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
3 King's Jerk ...
Restaurant
FAQs
What type of property is this?
Conventional restaurant - Free-standing restaurant building with fully equipped kitchen, finished basement, and updated roof and HVAC.
Where is this conventional restaurant located?
The property is located at 556 N Cicero Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Free‑standing restaurant building with 2,300 SF and plenty of parking; Fully equipped kitchen and cooking/prep equipment including grilling station, open fryers, dishwashing station, and pizza oven; Finished basement with storage on racks and an office
