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    2249 Lincoln Ave Chicago, IL 60614

    For Sale
    Contact for pricing

    Turn-key Chicago bar & grill, prime location.

    Property size:
    4,312 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional opportunity presents a fully operational, two-story bar and grill ideally situated on Lincoln Avenue in Chicago's vibrant Lincoln Park neighborhood. The 4,312 square foot building, situated on a 2,825 square foot lot, boasts a modern interior with two full bars, a substantial kitchen, and a state-of-the-art AV system. The impressive street presence is enhanced by an overhead garage-door façade, opening directly onto the bustling entertainment corridor. The property includes a spacious basement offering additional bathrooms, office space, ample storage, and coolers. Included in the sale are the existing Retail Food and Incidental Liquor licenses. The building's zoning is B3-2. The property's 2022 property taxes totaled $28,793.15. This turnkey establishment offers immediate operational capabilities, with the potential for expansion by re-applying for a PPA. The purchase price is negotiable. This is a rare chance to acquire a thriving business with significant upside potential in a highly desirable location. The building's size includes the basement area.

    Property Features for 2249 Lincoln Ave

    General Information

    Property type
    Restaurants
    Square Feet
    4,312 SF

    Building Details

    Stories
    2

    HighLights

    • 4,312 SF two‑story bar and grill for sale in Chicago's Lincoln Park neighborhood.
    • Includes incidental liquor and retail food licenses.
    • Modern build‑out with two full bars, large kitchen, and impressive AV system.
    • Features a large basement with additional bathrooms, office, coolers, and ample storage.
    • Located on Lincoln Avenue in a prime entertainment corridor with excellent street presence.
    • Zoned B3‑2.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.645231651197
    Latitude
    41.922948783941

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    FAQs

    What type of property is this?
    Restaurant - Turn-key Chicago bar & grill, prime location.
    Where is this restaurant located?
    The property is located at 2249 Lincoln Ave Chicago, IL.
    What are key features of this property?
    This property features: 4,312 SF two-story bar and grill for sale in Chicago's Lincoln Park neighborhood.; Includes incidental liquor and retail food licenses.; Modern build-out with two full bars, large kitchen, and impressive AV system.
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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
    2249 Lincoln Ave Chicago, IL 60614
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