Built-Out Restaurant with Outdoor
For Sale
Contact for pricing
6336 111TH ST, Chicago Ridge, IL 60415
B1-3-zoned restaurant with commercial kitchen infrastructure, bar improvements, and outdoor dining.
Property Size2,024 SF
Price / SF$296.44
Days on Market113
Property Features for 6336 111TH ST
General Information
Standard status
Active
Size
2,024 SF
Class
B
Property subtype
Retail, Hospitality, Business for Sale
Zoning
B1-3
Investment Type
Owner/User
Restaurant
Commercial Hood
Yes
Patio
Yes
Additional Details
Business Included
Yes
Building Details
Year Built
1973
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Pontarelli
Listed By:
Nicole Quattrocchi · License #IL 471.014953
Source:
Crexi
Added: May 11
Changed: Aug 30
Last Checked: Aug 30 at 8:04PM
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 Pontarelli
Investment Insights
Based on property information with market context.
This built-out restaurant property includes a full commercial kitchen, bar area, and outdoor dining component. Kitchen improvements include an 18-foot hood and walk-in freezer, while plumbing and electrical systems have been updated. The building was constructed in 1973 and is identified with B1-3 zoning.
The property is located at 6336 111th St in Chicago Ridge along the 111th Street corridor. The surrounding area includes established retail and residential neighborhoods. Existing restaurant improvements provide a functioning physical layout for continued food-service use, subject to applicable zoning and approvals.
The property is located at 6336 111th St in Chicago Ridge along the 111th Street corridor. The surrounding area includes established retail and residential neighborhoods. Existing restaurant improvements provide a functioning physical layout for continued food-service use, subject to applicable zoning and approvals.
Key Highlights
- Full commercial kitchen with an 18‑foot hood
- Walk‑in freezer included
- Outdoor dining area
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
$33,882
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
5.65%
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%
$677,640
$677.6K
Cap Rate 7%
$484,029
$484.0K
Cap Rate 9%
$376,467
$376.5K
Market Conditions
NOI Build-Up for 2,024 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
$48.6K $24.00/SF
− Vacancy
−$3.4K −$1.68/SF
EGI
$45.2K $22.32/SF
− OpEx
−$11.3K −$5.58/SF
NOI
$33.9K $16.74/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$24.00 /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%
$677,640
Cap Rate 7%
$484,029
Cap Rate 9%
$376,467
Alternative Uses
Best Use
Specialty Retail
$484.0K
$423.5K – $564.7K
NOI $33,882 @ 7.0% cap · market cap 5.65%
Second Best
Industrial
$124.5K
$108.9K – $145.2K
NOI $8,713 @ 7.0% cap · market cap 1.45%
Theoretical Best
Office A
$698.8K
$611.5K – $815.3K
NOI $48,916 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
409
Businesses Nearby
68k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 98%
Dining 2%
Thorntons
Shops & Services
30,235 visits/mo
0.1 miles
Shell
Shops & Services
14,259 visits/mo
0.1 miles
Dollar Tree
Shops & Services
13,748 visits/mo
0.2 miles
Family Dollar
Shops & Services
6,044 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
2,074 visits/mo
0.4 miles
Demographics for 60415, IL
14,433
Population
5,840
Households
2.5
Avg Household Size
37
Median Age
28%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
6,275
Density / Sq Mi
$69,389
Median Household Income
$48,226
Median Earnings
$1,198
Median Rent
$217,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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 - B1-3-zoned restaurant with commercial kitchen infrastructure, bar improvements, and outdoor dining.
Where is this conventional restaurant located?
The property is located at 6336 111TH ST Chicago Ridge, IL.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Full commercial kitchen with an 18‑foot hood; Walk‑in freezer included; Outdoor dining area
