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    1329 Chicago Ave Chicago, IL 60642

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    Profitable West Town Restaurant, 2779 SF

    Property size:
    2,779 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Prime West Town location on Chicago Avenue presents a lucrative investment opportunity. This 2,779-square-foot, two-story restaurant space boasts a prominent corner location and is currently 100% occupied by the acclaimed Jook Sing restaurant, ensuring a steady income stream. The property features a main floor with a bar, dining room, and a full kitchen equipped with black iron accents. A full prep kitchen is conveniently located on the lower level. The building's history includes successful restaurants such as West Town Tavern, Charlatan, and Vajar, demonstrating the location's strong track record. The property is zoned B-1-2, offering flexibility for future uses. With a remaining lease term of four years and a 9% cap rate, this is a sound investment with a significant return potential. The property is a commercial parcel, not a condo. This is a rare opportunity to acquire a thriving restaurant business in a highly desirable Chicago neighborhood. The property's strong occupancy rate and established history make it an attractive investment for both seasoned and new investors seeking a stable and profitable venture.

    Property Features for 1329 Chicago Ave

    General Information

    Property type
    Restaurants
    Square Feet
    2,779 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Jook Sing Southeast Asian Restaurant

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6605598
    Latitude
    41.8959572

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    FAQs

    What type of property is this?
    Restaurant - Profitable West Town Restaurant, 2779 SF
    Where is this restaurant located?
    The property is located at 1329 Chicago Ave Chicago, IL.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1329 Chicago Ave Chicago, IL 60642
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