Sports Bar with Sidewalk Café
For Sale
Contact for pricing
1525 N Wells St, Chicago, IL 60610
Modern Irish American sports bar with an on-premises dining setup and permitted sidewalk café service.
Property Size6,578 SF
Price / SF$205.23
Days on Market421
Property Features for 1525 N Wells St
General Information
Standard status
Active
Size
6,578 SF
Property subtype
RETAIL
Site & Location
Frontage
50 ft
Road Access
Yes
Restaurant
Patio
Yes
Liquor License
Yes
Additional Details
Business Included
Yes
Listing Agency:
Jameson Commercial
(312) 216-8000
Listed By:
Mike Costanzo · License #475129090
(312) 929-1510
Source:
Moodyscre
Added: Jul 23, 2025
Changed: Sep 2
Last Checked: Sep 15 at 11:03AM
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 Jameson Commercial
Investment Insights
Based on property information with market context.
LG’s Bar & Kitchen is a modern Irish American sports bar offering an interior bar and dining room with a permitted sidewalk café. The property includes corporately held incidental liquor, PPA (public place of amusement) and retail food licenses, along with a Sidewalk Café Permit.
The site has 50 feet of frontage with wide sidewalks on Wells Street. The building includes 6,578 square feet of interior space with seating for 239 persons inside and 42 persons seated on the sidewalk. Interior room dimensions are approximately 80’ 6” deep by 49’ 8” wide, with a rectangular bar measuring 72 linear feet and an 11-foot ceiling.
This is offered as a NET lease with options and 16 years left on the term.
The site has 50 feet of frontage with wide sidewalks on Wells Street. The building includes 6,578 square feet of interior space with seating for 239 persons inside and 42 persons seated on the sidewalk. Interior room dimensions are approximately 80’ 6” deep by 49’ 8” wide, with a rectangular bar measuring 72 linear feet and an 11-foot ceiling.
This is offered as a NET lease with options and 16 years left on the term.
Key Highlights
- 50 feet of frontage with wide sidewalks on Wells Street
- 6,578 SF interior with 239‑person inside occupancy
- 42 persons seated on the sidewalk via Sidewalk Café Permit
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
$122,430
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
9.07%
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%
$2,448,600
$2.4M
Cap Rate 7%
$1,749,000
$1.7M
Cap Rate 9%
$1,360,333
$1.4M
Market Conditions
NOI Build-Up for 6,578 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
$173.7K $26.40/SF
− Vacancy
−$10.4K −$1.58/SF
EGI
$163.2K $24.82/SF
− OpEx
−$40.8K −$6.20/SF
NOI
$122.4K $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%
$2,448,600
Cap Rate 7%
$1,749,000
Cap Rate 9%
$1,360,333
Alternative Uses
Best Use
Specialty Retail
$1.75M
$1.53M – $2.04M
NOI $122,430 @ 7.0% cap · market cap 9.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.10M
$2.71M – $3.62M
NOI $217,106 @ 7.0% cap · market cap 16.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
4,317
Businesses Nearby
123k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Groceries 31%
Dining 27%
Beauty & Spa 2%
Jewel-Osco
Groceries
38,261 visits/mo
0.5 miles
BP
Shops & Services
17,846 visits/mo
0.2 miles
Shell
Shops & Services
16,063 visits/mo
0.1 miles
McDonald's
Dining
11,226 visits/mo
0.1 miles
Chipotle Mexican Grill
Dining
5,818 visits/mo
0.5 miles
Demographics for 60610, IL
43,794
Population
30,091
Households
1.5
Avg Household Size
34
Median Age
79%
College-Educated
97%
High-School Grad
1.1 sq mi
ZIP Area
39,813
Density / Sq Mi
$105,649
Median Household Income
$82,934
Median Earnings
$2,029
Median Rent
$543,000
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
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Modern Irish American sports bar with an on-premises dining setup and permitted sidewalk café service.
Where is this bar & pub located?
The property is located at 1525 N Wells St Chicago, IL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 50 feet of frontage with wide sidewalks on Wells Street; 6,578 SF interior with 239‑person inside occupancy; 42 persons seated on the sidewalk via Sidewalk Café Permit
