Restaurant Opportunity with Seller
For Sale
Contact for pricing
1441 West Fullerton Avenue, Chicago, IL 60614
Fully built-out restaurant for sale with seller financing.
Property Size8,036 SF
Price / SF$385.76
Days on Market104
Property Features for 1441 West Fullerton Avenue
General Information
Standard status
Active
Size
8,036 SF
Property subtype
Retail
Zoning
B3-2
Occupancy
100%
Net Operating Income
$177,768
Building Details
Year Built
1928
Year Renovated
2020
Units
3
Tenancy
Multi
Listing Agency:
JPAR Vantage
(713) 357-0068
Listed By:
Tony Preston · License #AZ BR107734000
Source:
Crexi
Added: May 11
Changed: Aug 21
Last Checked: Aug 22 at 12:39PM
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 JPAR Vantage
Investment Insights
Based on property information with market context.
This is an opportunity to own or lease a fully built-out restaurant. Seller financing is available. The property has a size of 8036 square feet and is suitable for restaurants and other commercial real estate purposes.
Key Highlights
- Seller financing available
- Fully built‑out restaurant: Ready for your culinary vision.
- Opportunity to own or lease
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
$149,566
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
4.82%
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%
$2,991,320
$3.0M
Cap Rate 7%
$2,136,657
$2.1M
Cap Rate 9%
$1,661,844
$1.7M
Market Conditions
NOI Build-Up for 8,036 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
$212.2K $26.40/SF
− Vacancy
−$12.7K −$1.58/SF
EGI
$199.4K $24.82/SF
− OpEx
−$49.9K −$6.20/SF
NOI
$149.6K $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 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%
$2,991,320
Cap Rate 7%
$2,136,657
Cap Rate 9%
$1,661,844
Alternative Uses
Best Use
Specialty Retail
$2.14M
$1.87M – $2.49M
NOI $149,566 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.79M
$3.32M – $4.42M
NOI $265,227 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,078
Businesses Nearby
542k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 22%
Dining 21%
Groceries 19%
Shops & Services 18%
Kohl's
Apparel
73,373 visits/mo
0.4 miles
Jewel-Osco
Groceries
60,100 visits/mo
0.5 miles
Mariano's
Groceries
43,130 visits/mo
0.3 miles
Best Buy
Electronics
35,454 visits/mo
0.4 miles
McDonald's
Dining
31,775 visits/mo
0.3 miles
Demographics for 60614, IL
73,173
Population
38,089
Households
1.9
Avg Household Size
31
Median Age
86%
College-Educated
98%
High-School Grad
3.2 sq mi
ZIP Area
22,867
Density / Sq Mi
$139,561
Median Household Income
$86,386
Median Earnings
$2,019
Median Rent
$730,700
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.
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Frequently Asked Questions
What type of property is this?
Restaurant - Fully built-out restaurant for sale with seller financing.
Where is this restaurant located?
The property is located at 1441 West Fullerton Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Seller financing available; Fully built‑out restaurant: Ready for your culinary vision.; Opportunity to own or lease
