Freestanding Equipped
For Sale
$1,650,000
3205 Harlem Avenue, Berwyn, IL 60402
Existing food-service improvements include commercial kitchen equipment, refrigeration, dining furnishings, and paved parking.
Property Size3,486 SF
Lot Size0.55 Acres
Price / SF$473.32
Days on Market44
Property Features for 3205 Harlem Avenue
General Information
Standard status
Active
Size
3,486 SF
Lot size
0.55 Acres
Property subtype
COMMERCIAL
Additional Details
Furnished
Yes
Business Included
Yes
Highway Access
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$52,247
Building Details
Building Size
3,486 SF
Year Built
1975
Buildings
1
Listing Agency:
Compass
Listed By:
Town Realty Chicago: Meg and Matt
(773) 329-3284
Source:
Townrealtychicago
Added: Sep 16
Changed: Oct 26
Last Checked: Oct 26 at 3:01PM
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 Compass
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Investment Insights
Based on property information with market context.
The freestanding restaurant contains 3,486 SF on a 0.55-acre parcel. Its built-out food-service space includes commercial cooking and preparation equipment, refrigeration, storage fixtures, dining furniture, and other restaurant equipment; the final inventory is subject to agreement. The building dates to 1975.
Paved parking and on-site circulation serve the property, which has street frontage. Drive-through use is identified as a site possibility. The property is in Berwyn, near Riverside and I-55 and I-290.
Paved parking and on-site circulation serve the property, which has street frontage. Drive-through use is identified as a site possibility. The property is in Berwyn, near Riverside and I-55 and I-290.
Key Highlights
- Freestanding restaurant building with 3,486 SF on a 0.55‑acre parcel
- Commercial cooking and food‑preparation equipment, refrigeration, storage fixtures, and dining furniture included
- Paved on‑site parking and circulation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,356
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,167,120
$1.2M
Cap Rate 7%
$833,657
$833.7K
Cap Rate 9%
$648,400
$648.4K
Market Conditions
NOI Build-Up for 3,486 SF
Gross rent
$83.7K $24.00/SF
− Vacancy
−$5.9K −$1.68/SF
EGI
$77.8K $22.32/SF
− OpEx
−$19.5K −$5.58/SF
NOI
$58.4K $16.74/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,167,120
Cap Rate 7%
$833,657
Cap Rate 9%
$648,400
Alternative Uses
Best Use
Specialty Retail
$833.7K
$729.5K – $972.6K
NOI $58,356 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,249 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,679
Businesses Nearby
19k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Dining 41%
Home Improvements & Furnishings 13%
ARCO
Shops & Services
8,686 visits/mo
0.2 miles
Dunkin' Donuts
Dining
7,562 visits/mo
0.4 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
2,359 visits/mo
0.1 miles
Demographics for 60402, IL
64,706
Population
25,111
Households
2.6
Avg Household Size
37
Median Age
25%
College-Educated
85%
High-School Grad
5.7 sq mi
ZIP Area
11,352
Density / Sq Mi
$73,993
Median Household Income
$42,802
Median Earnings
$1,168
Median Rent
$277,800
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 Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing food-service improvements include commercial kitchen equipment, refrigeration, dining furnishings, and paved parking.
Where is this conventional restaurant located?
The property is located at 3205 Harlem Avenue Berwyn, IL.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Freestanding restaurant building with 3,486 SF on a 0.55‑acre parcel; Commercial cooking and food‑preparation equipment, refrigeration, storage fixtures, and dining furniture included; Paved on‑site parking and circulation
