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    7680 Grand Ave Gurnee, IL 60031

    Sponsored
    For Sale
    $1,500,000

    Established Restaurant, 7,800 SF, Prime Location

    Property size:
    7,800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional turnkey restaurant opportunity is located at 7680 Grand Ave, Gurnee, IL 60031. The property boasts a substantial 7,800 square feet of space, situated on a sizable 49,319 square foot lot. Built in 1990, the single-story building is zoned C-3, offering flexibility for various commercial uses. The asking price is $1,500,000, translating to $192.31 per square foot. The interior features a fully equipped kitchen, complete with all furniture, fixtures, and equipment (FFE). A unique bar area, highlighted by a built-in tree design, adds character and ambiance. Further enhancing its versatility, a second-level party room provides ample space for private events or expanded dining capacity. The generous lot size presents potential for outdoor seating or future expansion. This established restaurant is ready for immediate operation, presenting a rare opportunity to acquire a thriving business in a desirable location within Lake County, Illinois. The property's prime location on Grand Avenue in Gurnee ensures high visibility and accessibility. This is an ideal investment for experienced restaurateurs seeking a well-established business with significant growth potential. The property's single-tenancy status offers streamlined management and control. The property's APN is 07074070160000.

    Property Features for 7680 Grand Ave

    General Information

    Property type
    Restaurants
    Square Feet
    7,800 SF

    Building Details

    Year Built
    1990
    Stories
    1

    HighLights

    • Turnkey restaurant, 7,800 SF, on a 49,319 SF lot in Gurnee, IL.
    • Asking price: $1,500,000 ($192.31/SF).
    • Fully equipped kitchen, bar, and second‑level party room included.
    • C‑3 zoning, single‑story building (1990 construction).
    • High‑visibility location on Grand Ave., Gurnee, IL.
    Property Profile Location Intelligence

    Current Use by Public Records

    Salutos Pizza & Pasta Italian Restaurant

    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
    Gurnee
    County
    Lake
    State
    Illinois
    Longitude
    -87.9920774
    Latitude
    42.3864515

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    FAQs

    What type of property is this?
    Restaurant - Established Restaurant, 7,800 SF, Prime Location
    Where is this restaurant located?
    The property is located at 7680 Grand Ave Gurnee, IL.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Turnkey restaurant, 7,800 SF, on a 49,319 SF lot in Gurnee, IL.; Asking price: $1,500,000 ($192.31/SF).; Fully equipped kitchen, bar, and second-level party room included.
    Request Owner's contact information
    7680 Grand Ave Gurnee, IL 60031
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    Gurnee, IL 60031
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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
    7680 Grand Ave Gurnee, IL 60031
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