Frankfort Restaurant with Unique
For Sale
Contact for pricing
10211 W Lincoln Hwy, Frankfort, IL 60423
Two-story restaurant with atrium, skylight, and drive-up window.
Property Size8,000 SF
Price / SF$200
Days on Market1979
Property Features for 10211 W Lincoln Hwy
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Retail
Investment Type
Owner/User
Building Details
Year Built
1993
Year Renovated
2006
Listing Agency:
Imperial Realty Company
Listed By:
Theron May · License #IL 471.019986
(773) 736-6461
Source:
Crexi
Added: May 6, 2021
Changed: Oct 2
Last Checked: Oct 4 at 8:35AM
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 Imperial Realty Company
Investment Insights
Based on property information with market context.
This freestanding restaurant property features a 6,800 square foot footprint, offering an ideal setting for fine or casual dining. The unique space includes two levels of dining, with a glass-enclosed atrium on the first floor and a 1,552 square foot dining area under a vaulted skylight ceiling on the second floor. A fully equipped kitchen and a convenient drive-up window for phone orders are also included. The property also features a basement with office and storage space. Shared parking and cross easements are in place with the surrounding office development. The property is located on the newly expanded Route 30 in Frankfort, Illinois, a community with a population of 41,697 within a 3-mile radius and 14,125 households with a median home value exceeding $300,000. Over 20,000 vehicles pass by the building daily. Frankfort's historic downtown features boutiques, restaurants, and community events.
Key Highlights
- High‑traffic location on Route 30 with over 20,000 vehicles passing daily.
- Large 6,800 sf free‑standing restaurant with two levels of dining, including a glass atrium and vaulted skylight ceiling.
- Fully equipped kitchen ready for immediate use.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,594
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,911,880
$1.9M
Cap Rate 7%
$1,365,629
$1.4M
Cap Rate 9%
$1,062,156
$1.1M
Market Conditions
NOI Build-Up for 8,000 SF
Gross rent
$136.3K $17.04/SF
− Vacancy
−$8.9K −$1.11/SF
EGI
$127.5K $15.93/SF
− OpEx
−$31.9K −$3.98/SF
NOI
$95.6K $11.95/SF
Area
Will County, IL
Vacancy
6.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,911,880
Cap Rate 7%
$1,365,629
Cap Rate 9%
$1,062,156
Alternative Uses
Best Use
Specialty Retail
$1.37M
$1.19M – $1.59M
NOI $95,594 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $127,008 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
9k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 89%
Shops & Services 11%
Aurelio's Pizza
Dining
8,194 visits/mo
0.3 miles
MyEyeDr.
Shops & Services
994 visits/mo
0.2 miles
Demographics for 60423, IL
32,784
Population
11,494
Households
2.9
Avg Household Size
42
Median Age
48%
College-Educated
97%
High-School Grad
37.9 sq mi
ZIP Area
865
Density / Sq Mi
$137,651
Median Household Income
$63,686
Median Earnings
$1,455
Median Rent
$376,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Two-story restaurant with atrium, skylight, and drive-up window.
Where is this conventional restaurant located?
The property is located at 10211 W Lincoln Hwy Frankfort, IL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: High‑traffic location on Route 30 with over 20,000 vehicles passing daily.; Large 6,800 sf free‑standing restaurant with two levels of dining, including a glass atrium and vaulted skylight ceiling.; Fully equipped kitchen ready for immediate use.
