Aurora Restaurant Building For
For Sale
$580,000
Pending
930 W Illinois Avenue, Aurora, IL 60506
Freestanding restaurant on 0.36 acres with indoor and outdoor seating.
Property Size1,500 SF
Lot Size0.36 Acres
Days on Market266
Property Features for 930 W Illinois Avenue
General Information
Standard status
Pending
Size
1,500 SF
Lot size
0.36 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,831
Amenities
Central air
Central Air Cooling
Building Details
Year Built
1963
Listing Agency:
JOHN GREENE COMMERCIAL
(630) 229-2290
Listed By:
SHAWN LABRASSEUR
Source:
Corcoran
Added: Nov 18, 2025
Changed: Aug 8
Last Checked: Aug 8 at 1:29PM
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 JOHN GREENE COMMERCIAL
Investment Insights
Based on property information with market context.
This freestanding 1,500 square foot restaurant building is located on West Illinois Avenue in Aurora. Constructed in 1963, the property occupies a 0.36 acre lot. Currently operating as a taqueria, the restaurant features indoor dining, outdoor seating, and on-site parking. The sale includes the real estate, existing furniture, fixtures, and equipment. The operating business may also be included.
Key Highlights
- Freestanding 1,500 SF restaurant building on 0.36 acre lot.
- Includes real estate, furniture, fixtures, and equipment.
- Currently operating as an authentic taqueria.
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
$19,035
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
3.28%
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%
$380,700
$380.7K
Cap Rate 7%
$271,929
$271.9K
Cap Rate 9%
$211,500
$211.5K
Market Conditions
NOI Build-Up for 1,500 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
$27.0K $18.00/SF
− Vacancy
−$1.6K −$1.08/SF
EGI
$25.4K $16.92/SF
− OpEx
−$6.3K −$4.23/SF
NOI
$19.0K $12.69/SF
Area
Aurora, IL
Vacancy
6.00%
Lease Rate
$18.00 /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%
$380,700
Cap Rate 7%
$271,929
Cap Rate 9%
$211,500
Alternative Uses
Best Use
Specialty Retail
$271.9K
$237.9K – $317.3K
NOI $19,035 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$429.4K
$375.8K – $501.0K
NOI $30,060 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
494
Businesses Nearby
14k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 78%
Dining 22%
Shell
Shops & Services
5,835 visits/mo
0.1 miles
BP
Shops & Services
3,963 visits/mo
0.0 miles
Dairy Queen
Dining
3,057 visits/mo
0.0 miles
Mobil
Shops & Services
933 visits/mo
0.1 miles
Demographics for 60506, IL
52,011
Population
18,204
Households
2.9
Avg Household Size
36
Median Age
29%
College-Educated
84%
High-School Grad
21.2 sq mi
ZIP Area
2,453
Density / Sq Mi
$76,105
Median Household Income
$38,341
Median Earnings
$1,305
Median Rent
$246,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding restaurant on 0.36 acres with indoor and outdoor seating.
Where is this conventional restaurant located?
The property is located at 930 W Illinois Avenue Aurora, IL.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Freestanding 1,500 SF restaurant building on 0.36 acre lot.; Includes real estate, furniture, fixtures, and equipment.; Currently operating as an authentic taqueria.
