Established Deli
New
For Sale
$700,000
818 State St, Lemont, IL 60439
Operating food-service business includes equipment, inventory, and a second-floor area with four private rooms.
Property Size3,200 SF
Price / SF$218.75
Days on Market3
Property Features for 818 State St
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Business Opportunity
Listing Agency:
REMAX Legends
Listed By:
Neringa Koller · License #471006798
(630) 901-8988
Source:
Realtopiare
Added: Sep 11
Last Checked: Sep 12 at 1:45PM
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 REMAX Legends
Investment Insights
Based on property information with market context.
This offering includes a deli business that has operated for more than 20 years at 818 State St in Lemont, Illinois. The sale includes the operating business, equipment, inventory, and personal property associated with the operation, providing a substantially outfitted food-service setup.
The property measures 3,200 in stated property size and includes a second floor with four private rooms. Those rooms may support professional office or other approved uses, subject to village approval, creating additional flexibility within the property. The address is in downtown Lemont along State Street.
The property measures 3,200 in stated property size and includes a second floor with four private rooms. Those rooms may support professional office or other approved uses, subject to village approval, creating additional flexibility within the property. The address is in downtown Lemont along State Street.
Key Highlights
- Deli business with more than 20 years of operating history
- Sale includes all inventory, equipment, and personal property
- Second floor contains four private rooms
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
$53,568
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
7.65%
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%
$1,071,360
$1.1M
Cap Rate 7%
$765,257
$765.3K
Cap Rate 9%
$595,200
$595.2K
Market Conditions
NOI Build-Up for 3,200 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
$76.8K $24.00/SF
− Vacancy
−$5.4K −$1.68/SF
EGI
$71.4K $22.32/SF
− OpEx
−$17.9K −$5.58/SF
NOI
$53.6K $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%
$1,071,360
Cap Rate 7%
$765,257
Cap Rate 9%
$595,200
Alternative Uses
Best Use
Specialty Retail
$765.3K
$669.6K – $892.8K
NOI $53,568 @ 7.0% cap · market cap 7.65%
Second Best
Retail
$634.5K
$555.2K – $740.3K
NOI $44,417 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$1.10M
$966.7K – $1.29M
NOI $77,337 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
26k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Home Improvements & Furnishings 19%
Dining 9%
Dollar Tree
Shops & Services
10,680 visits/mo
0.4 miles
Chase Bank
Shops & Services
7,578 visits/mo
0.5 miles
Lemont Ace Hardware
Home Improvements & Furnishings
4,834 visits/mo
0.4 miles
SUBWAY
Dining
2,355 visits/mo
0.4 miles
Carquest Auto Parts # 4784
Shops & Services
444 visits/mo
0.4 miles
Demographics for 60439, IL
24,327
Population
8,962
Households
2.7
Avg Household Size
45
Median Age
45%
College-Educated
95%
High-School Grad
29.7 sq mi
ZIP Area
819
Density / Sq Mi
$132,511
Median Household Income
$60,561
Median Earnings
$1,046
Median Rent
$466,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating food-service business includes equipment, inventory, and a second-floor area with four private rooms.
Where is this conventional restaurant located?
The property is located at 818 State St Lemont, IL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Deli business with more than 20 years of operating history; Sale includes all inventory, equipment, and personal property; Second floor contains four private rooms
