Conventional Restaurant with
For Sale
Contact for pricing
1928 W Division St, Chicago, IL 60622
Established restaurant space with a full kitchen, dining areas, transferable licenses, and an NNN lease structure.
Property Size2,800 SF
Price / SF$317.86
Days on Market8
Property Features for 1928 W Division St
General Information
Standard status
Active
Size
2,800 SF
Property subtype
RETAIL
Restaurant
Commercial Hood
Yes
Liquor License
Yes
Additional Details
Business Included
Yes
Amenities
exposed brick walls
12-foot ceiling
bar
side dining room
sidewalk cafe permit
Listing Agency:
Jameson Commercial
(312) 929-1510
Listed By:
Mike Costanzo · License #475129090
(312) 929-1510
Source:
Moodyscre
Added: Jul 30
Changed: Aug 2
Last Checked: Aug 5 at 10:56AM
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.
This 2,800-square-foot conventional restaurant in Chicago’s Wicker Park neighborhood features a main dining room with a 12-foot ceiling, exposed brick, wall art, and a 15-foot bar. A separate side dining room provides an additional setting within the existing layout. The L-shaped galley kitchen includes a 12-foot exhaust hood and fire suppression system.
The property is subject to an NNN lease with options and 11+ years remaining. Transferable Incidental Liquor and Retail Food licenses are included, along with a sidewalk cafe permit. The address is 1928 W Division St, Chicago, IL 60622.
The property is subject to an NNN lease with options and 11+ years remaining. Transferable Incidental Liquor and Retail Food licenses are included, along with a sidewalk cafe permit. The address is 1928 W Division St, Chicago, IL 60622.
Key Highlights
- 2,800 SF conventional restaurant in Chicago’s Wicker Park neighborhood
- Main dining room with 12‑foot ceiling, exposed brick, wall art, and 15‑foot bar
- Separate side dining room included in the existing restaurant layout
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 | $73.9k | $26.40 |
| − Vacancy | −$4.4k | −$1.58 |
| EGI | $69.5k | $24.82 |
| − OpEx | −$17.4k | −$6.20 |
| NOI | $52.1k | $18.61 |
2,800 SF · lease $26.40/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$744.5K
$651.4K – $868.6K
NOI $52,114 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,413 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
6,066
Businesses Nearby
326k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Groceries 20%
Home Improvements & Furnishings 10%
Apparel 9%
Jewel-Osco
Groceries
65,395 visits/mo
0.4 miles
McDonald's
Dining
38,181 visits/mo
0.5 miles
Lowe's
Home Improvements & Furnishings
31,134 visits/mo
0.5 miles
Wendy's
Dining
29,664 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
11,777 visits/mo
0.4 miles
Demographics for 60622, IL
55,075
Population
27,630
Households
2
Avg Household Size
33
Median Age
73%
College-Educated
94%
High-School Grad
2.5 sq mi
ZIP Area
22,030
Density / Sq Mi
$124,852
Median Household Income
$76,180
Median Earnings
$1,932
Median Rent
$622,900
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established restaurant space with a full kitchen, dining areas, transferable licenses, and an NNN lease structure.
Where is this conventional restaurant located?
The property is located at 1928 W Division St Chicago, IL.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: 2,800 SF conventional restaurant in Chicago’s Wicker Park neighborhood; Main dining room with 12‑foot ceiling, exposed brick, wall art, and 15‑foot bar; Separate side dining room included in the existing restaurant layout
