Brick Restaurant with
For Sale
$1,495,000
4715 W 63rd Street, Chicago, IL 60629
Established restaurant business and real estate offered together with furnishings, fixtures, and operating equipment included.
Property Size4,000 SF
Days on Market32
Property Features for 4715 W 63rd Street
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Business Opportunity
Additional Details
Furnished
Yes
Business Included
Yes
Road Access
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$28,518
Building Details
Building Size
4,000 SF
Stories
1
Construction
brick
Listing Agency:
Morandi Properties, Inc
(708) 516-6666
Listed By:
Raymond Morandi · License #471003188
Source:
Jjillrealtygroup
Added: Jul 28
Changed: Aug 28
Last Checked: Aug 28 at 11:32AM
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 Morandi Properties, Inc
Investment Insights
Based on property information with market context.
The offering combines an operating restaurant business with its real estate. The 4,000-square-foot building features all-brick construction, and the sale includes the restaurant’s equipment, furnishings, and fixtures. The property is owner operated and includes five PIN numbers.
Located at 4715 W 63rd St near Cicero Ave, the restaurant is within walking distance of Midway Airport, major hotels, and an interstate. Combined parking accommodates 55+ cars, providing on-site parking for the business and its guests.
Located at 4715 W 63rd St near Cicero Ave, the restaurant is within walking distance of Midway Airport, major hotels, and an interstate. Combined parking accommodates 55+ cars, providing on-site parking for the business and its guests.
Key Highlights
- 4,000‑square‑foot all‑brick restaurant building
- Restaurant business and real estate included in the sale
- Operating equipment, furniture, and fixtures 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
$63,612
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
4.25%
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%
$1,272,240
$1.3M
Cap Rate 7%
$908,743
$908.7K
Cap Rate 9%
$706,800
$706.8K
Market Conditions
NOI Build-Up for 4,000 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
$91.2K $22.80/SF
− Vacancy
−$6.4K −$1.60/SF
EGI
$84.8K $21.20/SF
− OpEx
−$21.2K −$5.30/SF
NOI
$63.6K $15.90/SF
Area
ZIP 60629
Vacancy
7.00%
Lease Rate
$22.80 /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%
$1,272,240
Cap Rate 7%
$908,743
Cap Rate 9%
$706,800
Alternative Uses
Best Use
Specialty Retail
$908.7K
$795.2K – $1.06M
NOI $63,612 @ 7.0% cap · market cap 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.59M
$3.14M – $4.19M
NOI $251,180 @ 7.0% cap · market cap 16.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60629, IL
114,453
Population
36,283
Households
3.2
Avg Household Size
33
Median Age
14%
College-Educated
74%
High-School Grad
7.0 sq mi
ZIP Area
16,350
Density / Sq Mi
$58,813
Median Household Income
$34,635
Median Earnings
$1,106
Median Rent
$236,300
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established restaurant business and real estate offered together with furnishings, fixtures, and operating equipment included.
Where is this conventional restaurant located?
The property is located at 4715 W 63rd Street Chicago, IL.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 4,000‑square‑foot all‑brick restaurant building; Restaurant business and real estate included in the sale; Operating equipment, furniture, and fixtures included
