Conventional Restaurant with Commercial
For Sale
Contact for pricing
5445 W Diversey Ave, Chicago, IL 60639
Single-story food-service facility with restaurant equipment, multiple dining areas, bar service, and on-site parking.
Property Size4,300 SF
Lot Size0.14 Acres
Price / SF$126.74
Days on Market140
Property Features for 5445 W Diversey Ave
General Information
Standard status
Active
Size
4,300 SF
Lot size
0.14 Acres
Property subtype
Retail
Zoning
B3-1
Investment Type
Owner/User
Restaurant
Commercial Hood
Yes
Grease Trap
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Building Details
Year Built
1958
Year Renovated
2015
Buildings
1
Stories
1
Units
1
Listing Agency:
SVN | Chicago Commercial
(312) 756-7357
Listed By:
Tim Rasmussen · License #IL 471001877
Source:
Crexi
Added: Apr 14
Changed: Aug 31
Last Checked: Aug 31 at 12:29AM
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 SVN | Chicago Commercial
Investment Insights
Based on property information with market context.
This 4,300-square-foot single-story building occupies a 6,250-square-foot site and is configured for restaurant operations. The interior includes a 15-seat bar, several dining areas, ADA-compliant men's and women's restrooms, an employee washroom, two walk-in coolers, dry storage, stainless steel prep tables, and multiple prep and hand sinks. Furniture, fixtures, and equipment remain in place. Kitchen infrastructure includes a 14-foot black-iron exhaust hood, gas-fired make-up air, a dishwasher hood, a 75-gallon gas-fired Rheem water heater, in-floor grease interceptors, and 600-amp, 3-phase electrical service. A final Certificate of Occupancy was issued on May 19, 2017.
The property is zoned B3-1 and supports restaurant, retail, and general business applications, including incidental liquor licenses. A secure rear parking area provides surface parking and designated refuse and recycling space. Located at 5445 W Diversey Ave in Chicago's Belmont Cragin neighborhood, the property has access to CTA bus routes #77 Belmont, #54 Cicero, and #73 Armitage, as well as Cicero Avenue and the surrounding Northwest Side roadway network.
The property is zoned B3-1 and supports restaurant, retail, and general business applications, including incidental liquor licenses. A secure rear parking area provides surface parking and designated refuse and recycling space. Located at 5445 W Diversey Ave in Chicago's Belmont Cragin neighborhood, the property has access to CTA bus routes #77 Belmont, #54 Cicero, and #73 Armitage, as well as Cicero Avenue and the surrounding Northwest Side roadway network.
Key Highlights
- 4,300‑square‑foot restaurant building on a 6,250‑square‑foot site
- 15‑seat bar, multiple dining areas, ADA restrooms, and employee washroom
- 14‑foot black‑iron exhaust hood with gas‑fired make‑up air system
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
$16,813
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
3.08%
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%
$336,260
$336.3K
Cap Rate 7%
$240,186
$240.2K
Cap Rate 9%
$186,811
$186.8K
Market Conditions
NOI Build-Up for 4,300 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
$27.9K $6.48/SF
− Vacancy
−$3.8K −$0.89/SF
EGI
$24.0K $5.59/SF
− OpEx
−$7.2K −$1.68/SF
NOI
$16.8K $3.91/SF
Area
ZIP 60639
Vacancy
13.80%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
30.00%
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%
$336,260
Cap Rate 7%
$240,186
Cap Rate 9%
$186,811
Alternative Uses
Best Use
Specialty Retail
$1.01M
$882.0K – $1.18M
NOI $70,560 @ 7.0% cap · market cap 12.95%
Second Best
Retail
$876.3K
$766.8K – $1.02M
NOI $61,343 @ 7.0% cap · market cap 11.26%
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $133,087 @ 7.0% cap · market cap 24.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
1,860
Businesses Nearby
47k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 94%
Electronics 6%
Tony's Fresh Market
Groceries
44,699 visits/mo
0.4 miles
Boost Mobile
Electronics
2,628 visits/mo
0.5 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
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Single-story food-service facility with restaurant equipment, multiple dining areas, bar service, and on-site parking.
Where is this conventional restaurant located?
The property is located at 5445 W Diversey Ave Chicago, IL.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: 4,300‑square‑foot restaurant building on a 6,250‑square‑foot site; 15‑seat bar, multiple dining areas, ADA restrooms, and employee washroom; 14‑foot black‑iron exhaust hood with gas‑fired make‑up air system
