Corner Freestanding Restaurant
For Sale
$449,000
2640 E 75th Street, Chicago, IL 60649
Rebuilt restaurant property near the Metra South Shore station, Lake Michigan, beaches, and multiple golf courses.
Property Size1,100 SF
Price / SF$408.18
Days on Market596
Property Features for 2640 E 75th Street
General Information
Standard status
Active
Size
1,100 SF
Property subtype
COMMERCIAL
Site & Location
Neighborhood
South Shore
Corner Location
Yes
Additional Details
Gross Income
$48,000
Taxes and HOA fees
Annual Taxes
$5,559
Building Details
Building Size
1,100 SF
Year Built
1910
Year Renovated
2022
Buildings
1
Stories
1
Listing Agency:
Century 21 Circle 773-983-1553 Overview Additional information MLS R ID 12309423 Interior features Bedrooms 0 Cooling Yes Exterior features Lot Size 0.11 Acres Other property details Taxes $5,559 Tax Frequency Annually Coldwell Banker Dawn McKenna Group Request a tour Contact agent Request a tour Contact agent Listed by Mark Ahmad with Century 21 Circle 773-983-1553
Listed By:
Mark Ahmad · License #471007186
(312) 513-4490
Source:
Dawnmckennagroup
Added: Mar 11, 2025
Changed: Oct 25
Last Checked: Oct 27 at 12:27AM
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 Century 21 Circle 773-983-1553 Overview Additional information MLS R ID 12309423 Interior features Bedrooms 0 Cooling Yes Exterior features Lot Size 0.11 Acres Other property details Taxes $5,559 Tax Frequency Annually Coldwell Banker Dawn McKenna Group Request a tour Contact agent Request a tour Contact agent Listed by Mark Ahmad with Century 21 Circle 773-983-1553
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This single-story restaurant property is a freestanding corner building at 2640 E 75th St in Chicago. The structure dates to 1910 and underwent a full rebuild in 2021/2022. Its corner position provides exposure along Exchange Avenue and 75th Street, with the property currently leased.
The building is situated in Chicago’s South Shore neighborhood, a short distance from the Metra South Shore train stop. Nearby recreational destinations include Rainbow Beach, Tobey Prinz Beach, Hartigan Beach Park, South Shore Beach and Golf Course, and Jackson Park Golf Course. The property is also close to the lake and neighborhood parks.
The building is situated in Chicago’s South Shore neighborhood, a short distance from the Metra South Shore train stop. Nearby recreational destinations include Rainbow Beach, Tobey Prinz Beach, Hartigan Beach Park, South Shore Beach and Golf Course, and Jackson Park Golf Course. The property is also close to the lake and neighborhood parks.
Key Highlights
- Single‑story freestanding restaurant building on a corner site
- Full rebuild completed in 2021/2022
- Located at Exchange Avenue and 75th Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,473
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$409,460
$409.5K
Cap Rate 7%
$292,471
$292.5K
Cap Rate 9%
$227,478
$227.5K
Market Conditions
NOI Build-Up for 1,100 SF
Gross rent
$29.0K $26.40/SF
− Vacancy
−$1.7K −$1.58/SF
EGI
$27.3K $24.82/SF
− OpEx
−$6.8K −$6.20/SF
NOI
$20.5K $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%
$409,460
Cap Rate 7%
$292,471
Cap Rate 9%
$227,478
Alternative Uses
Best Use
Specialty Retail
$292.5K
$255.9K – $341.2K
NOI $20,473 @ 7.0% cap · market cap 4.56%
Second Best
Retail
$217.4K
$190.2K – $253.6K
NOI $15,218 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$518.6K
$453.8K – $605.1K
NOI $36,305 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
6k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citgo
Shops & Services
3,220 visits/mo
0.3 miles
Citgo
Shops & Services
2,307 visits/mo
0.3 miles
Demographics for 60649, IL
48,171
Population
28,249
Households
1.7
Avg Household Size
39
Median Age
25%
College-Educated
89%
High-School Grad
3.6 sq mi
ZIP Area
13,381
Density / Sq Mi
$40,142
Median Household Income
$36,474
Median Earnings
$1,066
Median Rent
$199,500
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
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Rebuilt restaurant property near the Metra South Shore station, Lake Michigan, beaches, and multiple golf courses.
Where is this conventional restaurant located?
The property is located at 2640 E 75th Street Chicago, IL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Single‑story freestanding restaurant building on a corner site; Full rebuild completed in 2021/2022; Located at Exchange Avenue and 75th Street
