Freestanding Restaurant
New
For Sale
$749,000
410 E South St, Plano, IL 60545
An operating restaurant is offered with liquor licenses and gaming.
Property Size2,150 SF
Price / SF$348.37
Days on Market2
Property Features for 410 E South St
General Information
Standard status
Active
Size
2,150 SF
Property subtype
Business Opportunity
Additional Details
Business Included
Yes
Liquor License
Yes
Amenities
gaming
Listing Agency:
REMAX Legends
Listed By:
Tayser Mohammed · License #475212298
(708) 655-5000
Source:
Bktchicago
Added: Sep 26
Last Checked: Sep 26 at 2:25PM
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 REMAX Legends
Investment Insights
Based on property information with market context.
This freestanding restaurant property at 410 E South St in Plano, Illinois, is an operating business offered with liquor and hard liquor licenses, along with gaming. The building includes a large parking area for restaurant customers.
Key Highlights
- Operating restaurant business included
- Offered with liquor and hard liquor licenses
- Gaming 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
$35,991
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
4.81%
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%
$719,820
$719.8K
Cap Rate 7%
$514,157
$514.2K
Cap Rate 9%
$399,900
$399.9K
Market Conditions
NOI Build-Up for 2,150 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
$51.6K $24.00/SF
− Vacancy
−$3.6K −$1.68/SF
EGI
$48.0K $22.32/SF
− OpEx
−$12.0K −$5.58/SF
NOI
$36.0K $16.74/SF
Area
Kendall 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 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%
$719,820
Cap Rate 7%
$514,157
Cap Rate 9%
$399,900
Alternative Uses
Best Use
Specialty Retail
$514.2K
$449.9K – $599.9K
NOI $35,991 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$742.3K
$649.5K – $866.0K
NOI $51,961 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60545, IL
13,888
Population
4,982
Households
2.8
Avg Household Size
34
Median Age
27%
College-Educated
93%
High-School Grad
36.6 sq mi
ZIP Area
379
Density / Sq Mi
$84,920
Median Household Income
$47,134
Median Earnings
$1,571
Median Rent
$235,500
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - An operating restaurant is offered with liquor licenses and gaming.
Where is this conventional restaurant located?
The property is located at 410 E South St Plano, IL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Operating restaurant business included; Offered with liquor and hard liquor licenses; Gaming included
