Freestanding Restaurant
For Sale
Contact for pricing
33 E 83rd St, Chicago, IL 60619
Second-generation freestanding space with large windows and 39 parking spaces along the full facade.
Property Size5,200 SF
Price / SF$201.92
Days on Market339
Property Features for 33 E 83rd St
General Information
Standard status
Active
Size
5,200 SF
Total Parking Spaces
39
Property subtype
RETAIL
Additional Details
Highway Access
Yes
Listing Agency:
CRER
(312) 446-5018
Listed By:
Michael Weaver
(312) 446-5018
Source:
Moodyscre
Added: Sep 2, 2025
Changed: Jul 26
Last Checked: Aug 6 at 5:11AM
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 CRER
Investment Insights
Based on property information with market context.
Located at 33 E 83rd St in Chicago’s Chatham area, this freestanding 2nd generation restaurant space is positioned for strong visibility at the Dan Ryan and 83rd St.
The property offers approximately 5,000 square feet with large windows along the entire facade and 39 parking spaces.
While currently configured as a restaurant space, the layout is described as suitable for restaurant use as well as medical office, dental office, or co-working applications.
The property offers approximately 5,000 square feet with large windows along the entire facade and 39 parking spaces.
While currently configured as a restaurant space, the layout is described as suitable for restaurant use as well as medical office, dental office, or co-working applications.
Key Highlights
- Freestanding 5,000 SF second‑generation restaurant space
- Large windows along the entire facade for prominent visibility
- Ideal location with visibility at the Dan Ryan and 83rd St.
Financial Insights For Healthcare Medical
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 | $124.8k | $24.00 |
| − Vacancy | −$10.0k | −$1.92 |
| EGI | $114.8k | $22.08 |
| − OpEx | −$45.9k | −$8.83 |
| NOI | $68.9k | $13.25 |
5,200 SF · lease $24.00/SF/yr · vacancy 8.00% · expense 40.00%
Alternative Uses
Best Use
Office B
$1.59M
$1.39M – $1.86M
NOI $111,571 @ 7.0% cap · market cap 10.63%
Second Best
Specialty Retail
$1.38M
$1.21M – $1.61M
NOI $96,782 @ 7.0% cap · market cap 9.22%
Theoretical Best
Office A
$2.45M
$2.15M – $2.86M
NOI $171,625 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
915
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60619, IL
63,303
Population
33,547
Households
1.9
Avg Household Size
43
Median Age
27%
College-Educated
90%
High-School Grad
6.1 sq mi
ZIP Area
10,378
Density / Sq Mi
$43,403
Median Household Income
$35,672
Median Earnings
$1,054
Median Rent
$213,000
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Second-generation freestanding space with large windows and 39 parking spaces along the full facade.
Where is this conventional restaurant located?
The property is located at 33 E 83rd St Chicago, IL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Freestanding 5,000 SF second‑generation restaurant space; Large windows along the entire facade for prominent visibility; Ideal location with visibility at the Dan Ryan and 83rd St.
