Banquet Hall and Apartment Income
6155 W FULLERTON Avenue Chicago, IL 60639
6155 W FULLERTON Avenue, Chicago, IL, 60639
$1,249,500
For Sale
$1,249,500
Established banquet hall with remodeled space, capacity for 200–250, plus two second-floor apartments for rental income.
Property Size6,000 SF
Price / SF$208.25
Days on Market329
Property Features for 6155 W FULLERTON Avenue
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Property subtype
- Business Opportunity
Listing agency
RE/MAX 10 Lincoln Park
(773) 348-8500
Listed by
Angel Navarro · License #475127008
(773) 348-8500
Source
Birdrealtysells
Added: Aug 28, 2025 Updated: Jul 22 at 12:15AM Checked: Jul 22 at 6:52AM
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 10 Lincoln Park
Investment Insights
Based on property information with market context.
An established banquet hall with over 6,000 square feet of event space, operating for over 38 years. The recently remodeled building includes multiple capital improvements, including two newer furnaces and a central air conditioner, a new roof, and all-new bathrooms. The hall has capacity for approximately 200 to 250 people, and the sale includes all furniture, liquor license, and equipment. Two apartments on the second floor provide additional rental income.
Rental income from the two apartments is stated as $1,600 for the front apartment and $1,150 for the rear apartment. The property is described as being close to public transportation, including CTA and Metra, as well as nearby retail and services including Home Depot, Lowes, and shopping at Brickyard, along with schools and Riis Park within walking distance.
For buyers seeking an owner-operated opportunity that also generates residential income, this property combines event-capable space with two on-site apartments under one ownership.
Rental income from the two apartments is stated as $1,600 for the front apartment and $1,150 for the rear apartment. The property is described as being close to public transportation, including CTA and Metra, as well as nearby retail and services including Home Depot, Lowes, and shopping at Brickyard, along with schools and Riis Park within walking distance.
For buyers seeking an owner-operated opportunity that also generates residential income, this property combines event-capable space with two on-site apartments under one ownership.
Key Highlights
- Established banquet hall operating for over 38 years
- Over 6,000 SF remodeled banquet hall space with capacity for 200–250 people
- Includes all furniture, liquor license, and equipment
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $154.8k | $25.80 |
| − Vacancy | −$10.1k | −$1.68 |
| EGI | $144.7k | $24.12 |
| − OpEx | −$43.4k | −$7.24 |
| NOI | $101.3k | $16.89 |
6,000 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.45M
$1.27M – $1.69M
NOI $101,317 @ 7.0% cap · market cap 8.11%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.52M
NOI $91,393 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$2.65M
$2.32M – $3.10M
NOI $185,702 @ 7.0% cap · market cap 14.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Parkview Villa Banquets
Wedding Service
Similar For Sale Nearby
FAQs
What type of property is this?
Wedding venue - Established banquet hall with remodeled space, capacity for 200–250, plus two second-floor apartments for rental income.
Where is this wedding venue located?
The property is located at 6155 W FULLERTON Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,249,500.
What are key features of this property?
This property features: Established banquet hall operating for over 38 years; Over 6,000 SF remodeled banquet hall space with capacity for 200–250 people; Includes all furniture, liquor license, and equipment
