Portage Park Restaurant with
3353 North Central Avenue, Chicago, IL 60634
Turnkey restaurant with real estate, FF&E, and 40 parking spaces.
Type:SCR, SCR-FREE, SCR-REST
Property size:
3,500 SFLot size:
0.35 AcresPrice / SF:
$225/SF- Added:
- Nov 15, 2025
- Days on Market:
- 189
- Last Refresh:
- Apr 3 at 4:56 am
Property Features for 3353 North Central Avenue
General Information
- Standard status
- Active
- Size
- 3,500 SF
- Lot size
- 0.35 Acres
- Property subtype
- SCR, SCR-FREE, SCR-REST
Building Details
- Year Built
- 1977
Listing agent Manny Regalado (312) 730-2029
Listing office Keller Williams ONEChicago (312) 730-2029
Listing date Nov 15, 2025
Source Realnex
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 Keller Williams ONEChicago
HighLights
- Turnkey Restaurant: Includes real estate, FF&E, and infrastructure for immediate operation.
- Ample Parking: Dedicated parking for 40 vehicles, a rare and valuable amenity.
- High‑Visibility Corner Location: Situated on a hard corner with high traffic counts and a large pylon sign.
- Large Lot Size: 15,246 SF lot provides flexibility.
- Fully Equipped Kitchen: Commercial‑grade kitchen with extensive line equipment, walk‑in freezer, and ample storage.
- Strong Location: Located in the vibrant Portage Park neighborhood.
Overview
Located in Portage Park, Chicago, this is a fully built-out restaurant property available for sale. The 3,500 SF freestanding building is situated on a 15,246 SF corner lot. The property includes real estate, FF&E, and infrastructure. The restaurant was built in 1978 and renovated in 2009. It is located at the intersection of Central Ave & Roscoe St, with a traffic volume of 28,000+ vehicles per day. The property has parking for 40 vehicles and a large pylon sign. The B3-1 zoning accommodates food-service, retail, and commercial concepts. The restaurant has a dining room, upgraded mechanicals, and a kitchen. The property is suited for fast casual, family dining, banquet operations, catering kitchens, or an owner-operator launching a new concept. The area has a dense residential base, retail and restaurant synergy, and institutional drivers such as Carl Schurz High School, elementary schools, private academies, daycares, Portage Park, Herman Park, Riis Park, healthcare facilities, professional offices, and municipal buildings. The property is minutes from I-90/I-94, Addison Ave, Belmont Ave, and Irving Park Rd, with several CTA bus routes nearby. The property has a dining room with booths, tables, and a private room, a commercial-grade kitchen with equipment, a walk-in freezer, and three-phase electrical service. It is suitable for dine-in, carryout, delivery, drive-up pickup, or catering operations. The property is ideal for full-service restaurants, fast casual concepts, banquet or catering operations, multi-unit operators, owner-occupants, and investors.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$687.2K
NOI $61,850 @ 9.00% cap · cautious / downside scenario
Moderate
$883.6K
NOI $61,850 @ 7.00% cap · market / base-case scenario
Aggressive
$1.24M
NOI $61,850 @ 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 | $88.2k | $25.20 |
| − Vacancy | −$5.7k | −$1.64 |
| EGI | $82.5k | $23.56 |
| − OpEx | −$20.6k | −$5.89 |
| NOI | $61.9k | $17.67 |
3,500 SF · lease $25.20/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$883.6K
$773.1K – $1.03M
NOI $61,850 @ 7.0% cap · market cap 7.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$954.4K
$835.1K – $1.11M
NOI $66,806 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.766299
- Latitude
- 41.9420587
Nearby Similar for Sale
FAQs
What type of property is this?
Conventional restaurant - Turnkey restaurant with real estate, FF&E, and 40 parking spaces.
Where is this conventional restaurant located?
The property is located at 3353 North Central Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $788,000.
What are key features of this property?
This property features: Turnkey Restaurant: Includes real estate, FF&E, and infrastructure for immediate operation.; Ample Parking: Dedicated parking for 40 vehicles, a rare and valuable amenity.; High‑Visibility Corner Location: Situated on a hard corner with high traffic counts and a large pylon sign.
