Established Restaurant and Banquet
9200 Cermak Road, Broadview, IL 60155
Long-standing restaurant and banquet facility with apartments for sale.
Type:Commercial/Industrial
Property size:
12,000 SFLot size:
1.00 AcrePrice / SF:
$245/SF- Added:
- Mar 12, 2026
- Days on Market:
- 72
- Last Refresh:
- Apr 5 at 8:53 pm
Property Features for 9200 Cermak Road
General Information
- Standard status
- Active
- Size
- 12,000 SF
- Lot size
- 1.00 Acre
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1940
Listing agent Gregory Ignarski License #475134591
Listing office RE/MAX City (773) 775-0600
Listing date Mar 12, 2026
Source Exitrealty
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 RE/MAX City
HighLights
- Established restaurant and banquet facility with 50‑year operating history and regional attraction.
- High‑traffic location at the intersection of Cermak Road and 17th Avenue with 31,000 average daily vehicles.
- Multiple revenue streams: restaurant, bar, gaming, and banquet rooms.
- Large parking lot accommodating over 90 vehicles.
- C‑2 zoning allows for most uses, with the Village of Broadview open to variances and special uses.
- Includes 23 studio apartments on the top floor.
Overview
This property features an established restaurant and banquet facility that has been in business for 50 years. It is located on the ground floor of a two-story building. The building has approximately 12,000 square feet of space and a full basement, situated on just over an acre of land. The property is located at the intersection of Cermak Road and 17th Avenue, which experiences an average daily traffic of 31,000 vehicles. It is across from a strip center anchored by a Home Depot and Super Target. Parking is available for over 90 vehicles. The current C-2 zoning allows for most uses, and the Village of Broadview is reportedly approachable regarding variances and special uses. The modified bitumen roof was updated in 2019, and a new boiler was installed in 2020. The property includes multiple revenue centers, such as a restaurant with carry-out service, a bar, gaming area, and multiple banquet rooms suitable for meetings of all sizes, as well as post-funeral luncheons and receptions. The top floor features 23 studio apartments. This property presents a rare ownership opportunity.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$2.23M
NOI $200,880 @ 9.00% cap · cautious / downside scenario
Moderate
$2.87M
NOI $200,880 @ 7.00% cap · market / base-case scenario
Aggressive
$4.02M
NOI $200,880 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $288.0k | $24.00 |
| − Vacancy | −$20.2k | −$1.68 |
| EGI | $267.8k | $22.32 |
| − OpEx | −$67.0k | −$5.58 |
| NOI | $200.9k | $16.74 |
12,000 SF · lease $24.00/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$2.87M
$2.51M – $3.35M
NOI $200,880 @ 7.0% cap · market cap 6.81%
Second Best
Retail
$2.38M
$2.08M – $2.78M
NOI $166,562 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$4.14M
$3.63M – $4.83M
NOI $290,014 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Sawa's Old Warsaw ...
Restaurant
Brookfield Jazz Society
Charitable Organization
ATM (BMO Harris ...
Atm
Location Insight
- Map
- Local Demand
- City
- Broadview
- County
- Cook
- State
- Illinois
- Longitude
- -87.853
- Latitude
- 41.8498
Nearby Similar for Sale
FAQs
What type of property is this?
Conventional restaurant - Long-standing restaurant and banquet facility with apartments for sale.
Where is this conventional restaurant located?
The property is located at 9200 Cermak Road Broadview, IL.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Established restaurant and banquet facility with 50‑year operating history and regional attraction.; High‑traffic location at the intersection of Cermak Road and 17th Avenue with 31,000 average daily vehicles.; Multiple revenue streams: restaurant, bar, gaming, and banquet rooms.
