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    1057 Wolcott Ave Chicago, IL 60622

    Sponsored
    For Lease
    $35 SF/Yr

    Historic Corner Restaurant, Fully Renovated

    Lot size:
    3,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional restaurant space, located at 1057-59 N Wolcott Ave in Chicago's vibrant Ukrainian Village neighborhood (zip code 60622), presents a rare opportunity. Situated on a prominent corner lot, with Thomas Ave as a cross street, this landmark building boasts a newly renovated (2023) facade and structure, meticulously restored to its original architectural glory. The property, encompassing a two-story building (APN 17-06-415-001, Cook County), is zoned C1-2 and offers a single-tenant occupancy. The space is ideally suited for a full-service restaurant, with plans already approved and construction underway for a complete buildout. A key feature is a spacious, enclosed private patio area located at the rear of the building, providing an ideal outdoor dining experience. This is a turnkey opportunity for an experienced restaurant operator to establish themselves in a highly desirable location, benefiting from the building's rich history and prime corner visibility. The property's location offers excellent access to local residents and ample foot traffic. This is a unique chance to secure a well-positioned, fully renovated restaurant space in a thriving Chicago neighborhood.

    Property Features for 1057 Wolcott Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,200 SF

    Building Details

    Year Renovated
    2023
    Stories
    2

    Unit(s) available at that property

    Space
    Size
    3,200 SF
    Rate per SF
    $35

    HighLights

    • Iconic landmark building.
    • Fully renovated interior.
    • High‑visibility corner lot.
    • Excellent demographics.
    • C‑1 zoning designation.
    Property Profile 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
    -87.674762315888
    Latitude
    41.901209928066

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    FAQs

    What type of property is this?
    Restaurant - Historic Corner Restaurant, Fully Renovated
    Where is this restaurant located?
    The property is located at 1057 Wolcott Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $35 SF/Yr.
    What are key features of this property?
    This property features: Iconic landmark building.; Fully renovated interior.; High-visibility corner lot.
    Request Owner's contact information
    1057 Wolcott Ave Chicago, IL 60622
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    Chicago, IL 60622
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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
    1057 Wolcott Ave Chicago, IL 60622
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