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    Property profile & analytics

    6606 Sheridan Rd Chicago, IL 60626-4663

    • Retail space
    • 5,800 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $780,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0301469
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Honey Berry Pancakes and Cafe / Breakfast Restaurant

    Property Details for 6606 Sheridan Rd

    Year built
    1952
    Lot size
    0.17 lot acres
    Property size
    5,800 SF
    Property type
    Retail space
    APN
    11-32-313-025
    APU
    1132313025

    Description

    This exceptional turnkey restaurant/retail opportunity, located in the vibrant Rogers Park neighborhood directly across from Loyola University, presents a rare chance to establish or expand your business. The 4,000 square foot, single-story building boasts a spacious interior designed to comfortably seat 150-175 guests. The impressive 34-foot frontage features floor-to-ceiling glass garage doors, creating an inviting atmosphere. Two ADA-compliant multi-stall restrooms cater to customer needs. A fully equipped kitchen includes a 20-foot hood, fire suppression system, center prep area, Blodgett ovens, and three walk-in refrigerators/freezers. A 30-foot center bar with a dedicated service area adds to the operational efficiency. The space comes fully furnished with tables, chairs, booths, and a reception desk. Exterior features include a 1,500 square foot private outdoor seating area accommodating 50+ guests, building and pylon signage visible to over 22,500 vehicles per day on Sheridan Road. The property's prime location is just two blocks from the Loyola CTA station (5,000 daily passengers, 1.8 million annually) and near multiple bus stops. Surrounded by established businesses including Target, CVS, and popular restaurants, this property benefits from high foot traffic and visibility. Built in 1950 and renovated in 2016, the building is zoned B3-3, offering flexibility for various uses. This is a truly remarkable opportunity in a high-demand location.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6613
    Latitude
    42.0029
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $36,812
    $31,406
    $135,960
    $167,366
    -
    $125,624
    $543,840
    $669,464

    Comparable in this City

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      1910 Birchwood Ave

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      1416 Morse Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,500 SF
      1416 Morse Ave, Chicago, IL 60626-3480
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      1550 Jarvis Ave

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      6962 Clark St

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      6962 Clark St, Chicago, IL 60626-3221
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      2,700 SF

      6420 Clark St

      RETAIL STORES (PERSONAL SERVICES) • 2,700 SF
      6420 Clark St, Chicago, IL 60626
      View Details

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    Similar Nearby for Lease

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      Rogers Park Restaurant Space Available

      2,500 SF restaurant space for lease in Rogers Park.
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      East Rogers Park Office Space

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    Chicago, IL 60626-4663
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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
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