Corner Night Club and
For Sale
$1,500,000
7905 W Lincoln Highway, Frankfort, IL 60423
Renovation is nearly complete for a corner night club and bar with liquor and grandfathered gaming licenses.
Property Size6,700 SF
Days on Market273
Property Features for 7905 W Lincoln Highway
General Information
Standard status
Active
Size
6,700 SF
Total Parking Spaces
60
Property subtype
Business Opportunity
Zoning
COMMR
Additional Details
Business Included
Yes
Highway Access
Yes
Liquor License
Yes
Taxes and HOA fees
Annual Taxes
$22,598
Building Details
Building Size
6,700 SF
Stories
1
Listing Agency:
Trelleum LLC
(630) 715-9999
Listed By:
Theresa Mueller · License #471006935
(630) 715-9999
Source:
Birdrealtysells
Added: Nov 24, 2025
Changed: Aug 23
Last Checked: Aug 23 at 3:49AM
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 Trelleum LLC
Investment Insights
Based on property information with market context.
7905 West Lincoln Highway presents a night club and bar setup with liquor licenses and grandfathered gaming licenses. The seller is in the process of renovating the entire space, with renovation reportedly almost complete, and the layout is described as adaptable for different business concepts. The property also includes a bonus outdoor patio/beer garden.
Located on a busy corner with frontage on Route 30 in Frankfort, Illinois, the site is positioned for customer access. Parking convenience is a key feature, with room to accommodate up to 60 cars.
The property is offered with C2 zoning, providing flexibility for permitted business operations. A sizable lot and redevelopment potential are also highlighted in the offering, with the seller indicating flexibility regarding terms for qualified buyers.
Located on a busy corner with frontage on Route 30 in Frankfort, Illinois, the site is positioned for customer access. Parking convenience is a key feature, with room to accommodate up to 60 cars.
The property is offered with C2 zoning, providing flexibility for permitted business operations. A sizable lot and redevelopment potential are also highlighted in the offering, with the seller indicating flexibility regarding terms for qualified buyers.
Key Highlights
- Corner property at 7905 West Lincoln Highway with a night club & bar setup
- Includes liquor licenses and grandfathered gaming licenses
- Grandfathered gaming provides consistent revenue streams from gaming activities
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
$80,060
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
5.34%
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%
$1,601,200
$1.6M
Cap Rate 7%
$1,143,714
$1.1M
Cap Rate 9%
$889,556
$889.6K
Market Conditions
NOI Build-Up for 6,700 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
$114.2K $17.04/SF
− Vacancy
−$7.4K −$1.11/SF
EGI
$106.7K $15.93/SF
− OpEx
−$26.7K −$3.98/SF
NOI
$80.1K $11.95/SF
Area
Will County, IL
Vacancy
6.50%
Lease Rate
$17.04 /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%
$1,601,200
Cap Rate 7%
$1,143,714
Cap Rate 9%
$889,556
Alternative Uses
Best Use
Specialty Retail
$1.14M
$1.00M – $1.33M
NOI $80,060 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,369 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
16k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
10,301 visits/mo
0.3 miles
Circle K
Shops & Services
3,232 visits/mo
0.3 miles
Valvoline Instant Oil Change
Shops & Services
2,212 visits/mo
0.2 miles
Demographics for 60423, IL
32,784
Population
11,494
Households
2.9
Avg Household Size
42
Median Age
48%
College-Educated
97%
High-School Grad
37.9 sq mi
ZIP Area
865
Density / Sq Mi
$137,651
Median Household Income
$63,686
Median Earnings
$1,455
Median Rent
$376,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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- All Star Sports Bar — 7818 W Lincoln Hwy, Frankfort, IL 60423
Frequently Asked Questions
What type of property is this?
Night club - Renovation is nearly complete for a corner night club and bar with liquor and grandfathered gaming licenses.
Where is this night club located?
The property is located at 7905 W Lincoln Highway Frankfort, IL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Corner property at 7905 West Lincoln Highway with a night club & bar setup; Includes liquor licenses and grandfathered gaming licenses; Grandfathered gaming provides consistent revenue streams from gaming activities
