Logan Square Restaurant/Brewery
2323 N Milwaukee Avenue, Chicago, IL 60647
Two-story, 12,500 SF restaurant/brewery building in Logan Square.
Type:Commercial/Industrial
Property size:
12,500 SFPrice / SF:
$264/SF- Added:
- Mar 12, 2026
- Days on Market:
- 72
- Last Refresh:
- Apr 5 at 10:07 pm
Property Features for 2323 N Milwaukee Avenue
General Information
- Standard status
- Active
- Size
- 12,500 SF
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1909
Listing agent Adam Schneiderman License #475149601
Listing office Strauss Realty Ltd (773) 736-3600
Listing date Mar 12, 2026
Source Exitrealty
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 Strauss Realty Ltd
HighLights
- Prime Logan Square location in the heart of the Milwaukee Avenue Commercial Corridor.
- High‑capacity venue with a 299 occupancy, ideal for a restaurant/brewery or event space.
- Expansive 12,500 SF two‑story building with a second‑floor bar suitable for private events.
- Features include a brewing system view, 12‑foot ceilings, large storefront windows, and decorative ceilings.
- Functional amenities such as a drive‑in door, full‑height basement with walk‑in cooler, and ample space for beer tanks.
- Convenient access to transportation: a 4‑minute walk to the California Blue Line and close proximity to I‑90/94.
Overview
Located in the heart of Logan Square, this two-story, 12,500 SF building presents an exceptional opportunity for restaurant or brewery ventures. Formerly occupied by Revolution Brewing for over 14 years, the property benefits from high visibility with 50' of frontage along the Milwaukee Avenue Commercial Corridor. The surrounding area features establishments such as Daisies, Slippery Slope, The Chicago Diner, and Emporium Arcade. The interior includes a 12-foot clear ceiling height, decorative ceilings, a view of the brewing system, and large storefront windows that open to the street. The expansive second floor, featuring a second bar, is suitable for private events, including weddings. Additional features include a drive-in door and a full-height basement with a walk-in cooler, offering ample space for beer tanks. Furniture, fixtures, and equipment are available for separate purchase. The building has an occupancy of 299. The location is convenient, with proximity to I-90/94 and a 4-minute walk to the California Blue Line. Logan Square has a population of 475,348 within a 3-mile radius, with a median household income of $95,301.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$2.59M
NOI $232,650 @ 9.00% cap · cautious / downside scenario
Moderate
$3.32M
NOI $232,650 @ 7.00% cap · market / base-case scenario
Aggressive
$4.65M
NOI $232,650 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $330.0k | $26.40 |
| − Vacancy | −$19.8k | −$1.58 |
| EGI | $310.2k | $24.82 |
| − OpEx | −$77.6k | −$6.20 |
| NOI | $232.7k | $18.61 |
12,500 SF · lease $26.40/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$3.32M
$2.91M – $3.88M
NOI $232,650 @ 7.0% cap · market cap 7.05%
Second Best
Industrial
$1.12M
$979.8K – $1.31M
NOI $78,387 @ 7.0% cap · market cap 2.38%
Theoretical Best
Office A
$5.89M
$5.16M – $6.88M
NOI $412,560 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Jack Storage Units ...
Storage Facility
Revolution Brewing - Brewpub
Bar & Pub
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6981
- Latitude
- 41.9237
Nearby Similar for Sale
FAQs
What type of property is this?
Brewery - Two-story, 12,500 SF restaurant/brewery building in Logan Square.
Where is this brewery located?
The property is located at 2323 N Milwaukee Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Prime Logan Square location in the heart of the Milwaukee Avenue Commercial Corridor.; High‑capacity venue with a 299 occupancy, ideal for a restaurant/brewery or event space.; Expansive 12,500 SF two‑story building with a second‑floor bar suitable for private events.
