Restaurant and Bar For
For Sale
$1,475,000
2506 N Clybourn Avenue, Chicago, IL 60614
For sale restaurant and bar property in Chicago’s Cook County with access via Fullerton and Clybourn.
Property Size5,500 SF
Days on Market56
Property Features for 2506 N Clybourn Avenue
General Information
Standard status
Active
Size
5,500 SF
Zoning
COMMR
Net Operating Income
$2,400
Taxes and HOA fees
Annual Taxes
$34,719
Amenities
Central Air, Window Unit(s)
Building Details
Building Size
5,500 SF
Year Built
1900
Stories
2
Listing Agency:
Hometown Real Estate
(708) 420-0063
Listed By:
Brian Costello · License #475143211
(708) 420-0063
Source:
Evrealestate
Added: Jun 19
Changed: Aug 8
Last Checked: Aug 12 at 5:49AM
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 Hometown Real Estate
Investment Insights
Based on property information with market context.
This listing is for a restaurant and bar property offered for sale in Chicago, Cook County. The property is categorized as a conventional restaurant, providing a straightforward fit for operators looking for a food and beverage concept.
Access is provided via local routes, with directions indicating heading west on Fullerton and then north on Clybourn Ave to 2506 N Clybourn Avenue.
Additional details on interior layout, condition, seating, or specific amenities were not provided in the available information.
Access is provided via local routes, with directions indicating heading west on Fullerton and then north on Clybourn Ave to 2506 N Clybourn Avenue.
Additional details on interior layout, condition, seating, or specific amenities were not provided in the available information.
Key Highlights
- Restaurant and bar property for sale in Chicago’s Cook County
- Access via Fullerton and Clybourn (per directions: Fullerton to Clybourn Ave to 2506)
- Cooling includes central air plus window unit(s)
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
$102,366
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
6.94%
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%
$2,047,320
$2.0M
Cap Rate 7%
$1,462,371
$1.5M
Cap Rate 9%
$1,137,400
$1.1M
Market Conditions
NOI Build-Up for 5,500 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
$145.2K $26.40/SF
− Vacancy
−$8.7K −$1.58/SF
EGI
$136.5K $24.82/SF
− OpEx
−$34.1K −$6.20/SF
NOI
$102.4K $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%
$2,047,320
Cap Rate 7%
$1,462,371
Cap Rate 9%
$1,137,400
Alternative Uses
Best Use
Specialty Retail
$1.46M
$1.28M – $1.71M
NOI $102,366 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.59M
$2.27M – $3.03M
NOI $181,526 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,639
Businesses Nearby
665k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 19%
Groceries 18%
Apparel 17%
Kohl's
Apparel
73,373 visits/mo
0.4 miles
Jewel-Osco
Groceries
60,100 visits/mo
0.1 miles
Chick-fil-A
Dining
55,740 visits/mo
0.2 miles
Mariano's
Groceries
43,130 visits/mo
0.4 miles
McDonald's
Dining
36,369 visits/mo
0.5 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.
Similar Off Market Nearby
- Map Room — 1949 N Hoyne Ave, Chicago, IL 60647
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- Gallery Cabaret — 2020 N Oakley Ave, Chicago, IL 60647
- Floyd's Pub — 1944 N Oakley Ave #6349, Chicago, IL 60647
- Remedy — 1910 N Milwaukee Ave, Chicago, IL 60647
Frequently Asked Questions
What type of property is this?
Bar & Pub - For sale restaurant and bar property in Chicago’s Cook County with access via Fullerton and Clybourn.
Where is this bar & pub located?
The property is located at 2506 N Clybourn Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Restaurant and bar property for sale in Chicago’s Cook County; Access via Fullerton and Clybourn (per directions: Fullerton to Clybourn Ave to 2506); Cooling includes central air plus window unit(s)
