Bar Building with Commercial
For Sale
$459,900
12717 South Halsted Street, Chicago, IL 60628
Active liquor and business licenses are available for transfer with the sale.
Property Size4,104 SF
Price / SF$112.06
Days on Market720
Property Features for 12717 South Halsted Street
General Information
Standard status
Active
Size
4,104 SF
Property Condition
Severity
Major Repairs Needed
Evidence
still requires additional rehabilitation to be completed
Restaurant
Commercial Hood
Yes
Equipment Included
Yes
Liquor License
Yes
Additional Details
Business Included
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,115
Building Details
Year Built
1954
Buildings
1
Stories
2
Listing Agency:
Signature Landmark REO, Inc.
Listed By:
Shelia
(708) 268-2117
Source:
Compass
Added: Sep 13, 2024
Changed: Sep 2
Last Checked: Aug 30 at 9:12PM
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 Signature Landmark REO, Inc.
Investment Insights
Based on property information with market context.
This Chicago bar property includes an approved commercial kitchen at the rear, outfitted with a 10-foot hood, freezer, stove, exhaust system, and related fittings. The kitchen area also contains a full bathroom and office. Interior work is underway throughout the building: the first floor has been stripped and framed for drywall, while the second floor has been reframed for a new bathroom and event space. Additional rehabilitation remains to be completed.
The basement contains an 80-gallon commercial hot water tank, updated electrical service, and roughed-in bathroom and laundry areas. Copper piping extends throughout the property, including the line to the interior meter box, and all windows are new. Heating includes a boiler serving the bar and a GFA system for the kitchen, with a central-air coil. The front and rear areas have new concrete, and the property is fully fenced and secured. Active liquor and business licenses transfer to the buyer.
The basement contains an 80-gallon commercial hot water tank, updated electrical service, and roughed-in bathroom and laundry areas. Copper piping extends throughout the property, including the line to the interior meter box, and all windows are new. Heating includes a boiler serving the bar and a GFA system for the kitchen, with a central-air coil. The front and rear areas have new concrete, and the property is fully fenced and secured. Active liquor and business licenses transfer to the buyer.
Key Highlights
- Approved commercial kitchen with 10‑foot hood, freezer, stove, exhaust system, and fittings
- Active liquor and business licenses transfer to the buyer
- First floor gutted and framed for drywall installation
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
$25,736
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
5.60%
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%
$514,720
$514.7K
Cap Rate 7%
$367,657
$367.7K
Cap Rate 9%
$285,956
$286.0K
Market Conditions
NOI Build-Up for 4,104 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
$38.7K $9.43/SF
− Vacancy
−$1.9K −$0.47/SF
EGI
$36.8K $8.96/SF
− OpEx
−$11.0K −$2.69/SF
NOI
$25.7K $6.27/SF
Area
Chicago, IL
Vacancy
5.00%
Lease Rate
$9.43 /SF/Yr
Expense Ratio
30.00%
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%
$514,720
Cap Rate 7%
$367,657
Cap Rate 9%
$285,956
Alternative Uses
Best Use
Specialty Retail
$1.09M
$954.8K – $1.27M
NOI $76,384 @ 7.0% cap · market cap 16.61%
Second Best
Industrial
$367.7K
$321.7K – $428.9K
NOI $25,736 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$1.94M
$1.69M – $2.26M
NOI $135,452 @ 7.0% cap · market cap 29.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Utilities to site
Yes
Commercial hood
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
9k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
8,520 visits/mo
0.2 miles
Muffler Man
Shops & Services
574 visits/mo
0.1 miles
Demographics for 60628, IL
62,832
Population
28,736
Households
2.2
Avg Household Size
41
Median Age
24%
College-Educated
87%
High-School Grad
11.0 sq mi
ZIP Area
5,712
Density / Sq Mi
$49,719
Median Household Income
$35,974
Median Earnings
$1,168
Median Rent
$158,500
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Game Over Sports Bar — 1246 W 127th St, Calumet Park, IL 60827
- Dee Dee’s Bar and Grill — 12359 S Racine Ave, Calumet Park, IL 60827
- Sugars Bar LLC — 12359 S Racine Ave, Calumet Park, IL 60827
Frequently Asked Questions
What type of property is this?
Bar & Pub - Active liquor and business licenses are available for transfer with the sale.
Where is this bar & pub located?
The property is located at 12717 South Halsted Street Chicago, IL.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: Approved commercial kitchen with 10‑foot hood, freezer, stove, exhaust system, and fittings; Active liquor and business licenses transfer to the buyer; First floor gutted and framed for drywall installation
