Conventional Restaurant with Central
For Sale
$279,900
Pending
5418 W North Avenue, Chicago, IL 60639
Restaurant property with central air along North Avenue in Chicago.
Property Size1,500 SF
Days on Market180
Property Features for 5418 W North Avenue
General Information
Standard status
Pending
Size
1,500 SF
Property subtype
Business Opportunity
Taxes and HOA fees
Annual Taxes
$8,635
Amenities
Central Air
Building Details
Building Size
1,500 SF
Stories
1
Listing Agency:
Realty of America, LLC
Listed By:
David Dominguez · License #471019643
(312) 847-0444
Source:
Evrealestate
Added: Mar 6
Changed: Aug 30
Last Checked: Sep 1 at 2:26PM
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 Realty of America, LLC
Investment Insights
Based on property information with market context.
This conventional restaurant property includes central air and is positioned along North Avenue in Chicago. The property is located east of Harlem Avenue, providing a defined corridor setting within Cook County.
Key Highlights
- Conventional restaurant property
- Central air
- Located on North Avenue
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
$24,614
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
8.79%
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%
$492,280
$492.3K
Cap Rate 7%
$351,629
$351.6K
Cap Rate 9%
$273,489
$273.5K
Market Conditions
NOI Build-Up for 1,500 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
$35.1K $23.40/SF
− Vacancy
−$2.3K −$1.52/SF
EGI
$32.8K $21.88/SF
− OpEx
−$8.2K −$5.47/SF
NOI
$24.6K $16.41/SF
Area
ZIP 60639
Vacancy
6.50%
Lease Rate
$23.40 /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%
$492,280
Cap Rate 7%
$351,629
Cap Rate 9%
$273,489
Alternative Uses
Best Use
Specialty Retail
$351.6K
$307.7K – $410.2K
NOI $24,614 @ 7.0% cap · market cap 8.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$663.2K
$580.3K – $773.8K
NOI $46,426 @ 7.0% cap · market cap 16.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,167
Businesses Nearby
129k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 42%
Dining 32%
Leisure 26%
Electronics 1%
AMC Galewood Crossings 14
Leisure
33,208 visits/mo
0.5 miles
McDonald's
Dining
26,623 visits/mo
0.3 miles
White Castle
Dining
14,006 visits/mo
0.3 miles
Dollar Tree
Shops & Services
13,127 visits/mo
0.2 miles
BP
Shops & Services
11,568 visits/mo
0.2 miles
Demographics for 60639, IL
89,543
Population
28,656
Households
3.1
Avg Household Size
34
Median Age
15%
College-Educated
69%
High-School Grad
5.0 sq mi
ZIP Area
17,909
Density / Sq Mi
$59,710
Median Household Income
$34,846
Median Earnings
$1,212
Median Rent
$289,000
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with central air along North Avenue in Chicago.
Where is this conventional restaurant located?
The property is located at 5418 W North Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Conventional restaurant property; Central air; Located on North Avenue
