Established Banquet Hall with
6155 W FULLERTON Avenue Chicago, IL 60639
For Sale
$1,249,500
COMMERCIAL - Chicago, IL
Property Size6,000 SF
Lot Size0.20 Acres
Price / SF$208.25
Days on Market333
Property Features for 6155 W FULLERTON Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- COMMR
- Standard status
- Active
- APN
- 13321040020000
- Size
- 6,000 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 17945
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1948
- Floors in Building
- 2
- Number of units
- 3
- Building materials
- Concrete, Stucco, Shingle Siding
- Roof type
- Rubber
Listing Agency:
RE/MAX 10 Lincoln Park
(773) 348-8500
Listed By:
Angel Navarro · License #475127008
(708) 857-1500
Added: Aug 29, 2025
Changed: May 13
Last Checked: Jul 27 at 2:06AM
MLS# 12458534
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial property features an established banquet hall operating for over 38 years, with over 6,000 square feet of space. The building has been recently remodeled, with over $300,000 in improvements. The banquet hall has a capacity for 200 to 250 people and includes all furniture, equipment, and a liquor license. The property also includes two apartments on the second floor, generating additional income. The front apartment rents for $1,600, and the rear apartment rents for $1,150. Recent upgrades include two newer furnaces and central air conditioners, a new roof, and all new bathrooms. The property is located close to public transportation, including CTA and Metra, as well as Home Depot, Lowe's, schools, Riis Park, and the Brickyard Shopping Center, all within walking distance. The lot size is 0.2043 acres. The property is zoned COMMR and is located in Chicago, IL.
Key Highlights
- Established banquet hall business (38+ years) with included furniture, liquor license, and equipment.
- Two income‑generating apartments on the second floor (renting for $1,600 and $1,150).
- Recently remodeled building with over $300,000 in improvements (new baths, roof, newer furnaces & central air).
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
Specialty Retail
$1.41M
$1.23M – $1.64M
NOI $98,456 @ 7.0% cap · market cap 7.88%
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
FAQs
What type of property is this?
Turn key restaurant - Banquet hall with apartments for additional income in Chicago.
Where is this turn key restaurant 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 business (38+ years) with included furniture, liquor license, and equipment.; Two income‑generating apartments on the second floor (renting for $1,600 and $1,150).; Recently remodeled building with over $300,000 in improvements (new baths, roof, newer furnaces & central air).
