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    435 Illinois St Chicago, IL 60611

    For Lease
    Contact for pricing

    Flagship restaurant space, prime location.

    Lot size:
    33,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional ±34,000 square foot, two-level restaurant and hospitality space is situated in Chicago's vibrant Streeterville neighborhood, directly beneath 285 luxury apartments. Currently configured as a fully operational, high-volume event facility, this second-generation space offers unparalleled flexibility. Easily divisible into approximately 22,500 and 11,500 square foot units, further demising is possible to create spaces of approximately 4,100, 5,300, 9,800, and 12,400 square feet. The property boasts impressive infrastructure, including multiple kitchens and bars, a large full-service main kitchen, several venting options (including a live fuel facility with a wood-burning oven), ample bathrooms, and high-capacity HVAC and electrical systems. Enjoy unique brick and timber interior aesthetics, along with a main-level outdoor deck and exclusive waterfront outdoor seating on the Ogden Slip docks – one of the only waterside dining opportunities in Chicago. The property benefits from high visibility and accessibility, with entrances and signage on both Illinois Street and Ogden Slip. Located one block from Navy Pier, this high-profile location experiences over two million unique pedestrian visits annually. Strong co-tenancy includes Target, Carson's Ribs, Cupitol, Robert's Pizza, Pinched Mediterranean Restaurant, Whole Foods, Kanela, Yolk, and Wu's Korean BBQ (coming soon). The site sits on a 2.76-acre lot and is zoned PD-368/DX-12 in Cook County. Available February 2025. On-site parking is available.

    Property Features for 435 Illinois St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    33,000 SF

    Building Details

    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Size
    33,000 SF

    HighLights

    • Unique waterfront restaurant/hospitality opportunity in Chicago's Streeterville neighborhood.
    • ±34,000 SF ground‑floor restaurant space below 285 luxury apartments.
    • Divisible into ±22,500 SF and ±11,500 SF spaces; further divisible into smaller units.
    • Turnkey second‑generation space with multiple kitchens, bathrooms, HVAC, and amenities.
    • Large‑capacity banquet facilities; outdoor seating; dual venting including live fuel system; Ogden Slip & Illinois Street entrances and signage.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Pinstripes Caterer Ogilvie Pertl Gallery Art Gallery Jo Gi Gallery Art Gallery Alexandru Darida Art Gallery

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.616483750959
    Latitude
    41.891079030694

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    FAQs

    What type of property is this?
    Restaurant - Flagship restaurant space, prime location.
    Where is this restaurant located?
    The property is located at 435 Illinois St Chicago, IL.
    What are key features of this property?
    This property features: Unique waterfront restaurant/hospitality opportunity in Chicago's Streeterville neighborhood.; ±34,000 SF ground-floor restaurant space below 285 luxury apartments.; Divisible into ±22,500 SF and ±11,500 SF spaces; further divisible into smaller units.
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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
    435 Illinois St Chicago, IL 60611
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