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    741-753 31St St Chicago, IL 60616

    Sponsored
    For Lease
    $30 SF/Yr ($7,500 /Mo)

    Fully built-out Dunkin' Donuts; high traffic location.

    Lot size:
    3,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 3,000 square foot retail space, located at the highly visible corner of 31st and Halsted Streets in Cook County, presents a unique investment opportunity. Built in 2004 and extensively renovated in 2022, the property boasts a fully equipped kitchen and back office, perfectly suited for a variety of restaurant or retail concepts. Currently occupied by a Dunkin' Donuts, the tenant is vacating in July 2022 upon completion of their new drive-thru location nearby. The existing lease agreement extends through March 2025, with options for lease extension available through negotiations with the building ownership. The property's single-tenant occupancy simplifies management, while its prime location ensures high visibility and foot traffic. The 3,000 square feet of vacant space offers immediate occupancy for a new business, eliminating the need for extensive build-out. This is an exceptional opportunity to acquire a turn-key retail or restaurant space in a thriving commercial area. The property's recent renovation ensures modern amenities and a move-in ready condition. The high traffic location and existing lease provide immediate income potential and long-term stability. Don't miss this chance to secure a prime retail space in a desirable Cook County location.

    Property Features for 741-753 31St St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,000 SF
    Total Rate
    7500

    Building Details

    Year Built/Renovated
    2004/2022

    Unit(s) available at that property

    Space
    1st Floor
    Size
    3,000 SF
    Rate per SF
    $30

    HighLights

    • 3,000 SF retail/restaurant space in Cook County.
    • Single‑tenant occupancy.
    • Fully built‑out space, previously occupied by Dunkin' Donuts.
    • Built in 2004, renovated in 2022.
    • Currently vacant.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6453953
    Latitude
    41.8376549

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    FAQs

    What type of property is this?
    Restaurant - Fully built-out Dunkin' Donuts; high traffic location.
    Where is this restaurant located?
    The property is located at 741-753 31St St Chicago, IL.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: 3,000 SF retail/restaurant space in Cook County.; Single-tenant occupancy.; Fully built-out space, previously occupied by Dunkin' Donuts.
    Request Owner's contact information
    741-753 31St St Chicago, IL 60616
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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
    741-753 31St St Chicago, IL 60616
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