Bar With Two-Bedroom
For Sale
$699,000
35480 N Fairfield Road, Round Lake, IL 60073
Equipped commercial bar with pool tables, video gaming, walk-in refrigeration, and an apartment.
Property Size4,179 SF
Days on Market11
Property Features for 35480 N Fairfield Road
General Information
Standard status
Active
Size
4,179 SF
Property subtype
COMMERCIAL
Financials
Average Monthly Rent
$1,400
Business Included
Yes
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$61,840,599
Building Details
Building Size
4,179 SF
Listing Agency:
RE/MAX Plaza
(224) 627-4290
Listed By:
Prentiss Grant · License #475176169
Source:
Realtorjamie
Added: Aug 6
Changed: Aug 14
Last Checked: Aug 15 at 1:06PM
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 RE/MAX Plaza
Investment Insights
Based on property information with market context.
This commercial bar property includes pool tables, video gaming, walk-in refrigeration, and installed bar fixtures. A 2-bedroom apartment is also part of the offering and produces rental income, although the amount is not included here.
The property is positioned at the corner of 35480 N Fairfield Road in Round Lake, Illinois. The site includes parking and is described as a busy-corner location with strong visibility. The bar is being offered with its existing equipment and fixtures, providing an established physical setup for continued operation.
The property is positioned at the corner of 35480 N Fairfield Road in Round Lake, Illinois. The site includes parking and is described as a busy-corner location with strong visibility. The bar is being offered with its existing equipment and fixtures, providing an established physical setup for continued operation.
Key Highlights
- 2‑bedroom apartment included with the bar property
- Pool tables and video gaming equipment in place
- Walk‑in refrigeration included
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
$43,253
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
6.19%
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%
$865,060
$865.1K
Cap Rate 7%
$617,900
$617.9K
Cap Rate 9%
$480,589
$480.6K
Market Conditions
NOI Build-Up for 4,179 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
$75.2K $18.00/SF
− Vacancy
−$6.0K −$1.44/SF
EGI
$69.2K $16.56/SF
− OpEx
−$26.0K −$6.21/SF
NOI
$43.3K $10.35/SF
Area
Lake County, IL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$865,060
Cap Rate 7%
$617,900
Cap Rate 9%
$480,589
Alternative Uses
Best Use
Specialty Retail
$1.10M
$961.6K – $1.28M
NOI $76,930 @ 7.0% cap · market cap 11.01%
Second Best
Mixed Use
$617.9K
$540.7K – $720.9K
NOI $43,253 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,997 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60073, IL
61,721
Population
20,864
Households
3
Avg Household Size
34
Median Age
27%
College-Educated
81%
High-School Grad
18.5 sq mi
ZIP Area
3,336
Density / Sq Mi
$95,457
Median Household Income
$43,228
Median Earnings
$1,461
Median Rent
$215,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Equipped commercial bar with pool tables, video gaming, walk-in refrigeration, and an apartment.
Where is this bar & pub located?
The property is located at 35480 N Fairfield Road Round Lake, IL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 2‑bedroom apartment included with the bar property; Pool tables and video gaming equipment in place; Walk‑in refrigeration included
