Established Restaurant with Outdoor
For Sale
$899,000
999 CONFIDENTIAL, Algonquin, IL 60102
Business Opportunity, Algonquin, IL
Property Size6,000 SF
Price / SF$149.83
Days on Market395
Property Features for 999 CONFIDENTIAL
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
LOCATED IN THE OLD TOWN DISTRICT
Subdivision
Algonquin
Standard status
Active
APN
1934106012
Taxes and HOA fees
Tax Year
2024
Utilities
Cooling system
Central Air
Amenities
Video Gaming
Catering
Private Party Room
Listing Agency:
RE/MAX At Home · RE/MAX International
(847) 255-1000
Listed By:
Anthony Bellino · License #471002939
(847) 255-1000
Added: Jul 23, 2025
Changed: Aug 19
Last Checked: Aug 21 at 3:06AM
MLS# 12427680
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This established restaurant encompasses 6,000 square feet and includes outdoor dining, a private party room, and central air conditioning. The operation also includes a liquor license and video gaming, along with catering capability.
The property is located in Algonquin, Illinois, and carries COMMR zoning. The combination of indoor dining, outdoor seating, private-event space, and supporting restaurant amenities provides a varied operating configuration.
The property is located in Algonquin, Illinois, and carries COMMR zoning. The combination of indoor dining, outdoor seating, private-event space, and supporting restaurant amenities provides a varied operating configuration.
Key Highlights
- 6,000‑square‑foot restaurant in Algonquin, Illinois
- Outdoor dining area included
- Private party room for hosted events
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$70,459
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,409,180
$1.4M
Cap Rate 7%
$1,006,557
$1.0M
Cap Rate 9%
$782,878
$782.9K
Market Conditions
NOI Build-Up for 6,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$100.8K $16.80/SF
− Vacancy
−$6.9K −$1.14/SF
EGI
$93.9K $15.66/SF
− OpEx
−$23.5K −$3.91/SF
NOI
$70.5K $11.74/SF
Area
McHenry County, IL
Vacancy
6.80%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,409,180
Cap Rate 7%
$1,006,557
Cap Rate 9%
$782,878
Alternative Uses
Best Use
Specialty Retail
$1.01M
$880.7K – $1.17M
NOI $70,459 @ 7.0% cap · market cap 7.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $145,007 @ 7.0% cap · market cap 16.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60102, IL
31,959
Population
12,076
Households
2.6
Avg Household Size
42
Median Age
43%
College-Educated
95%
High-School Grad
15.8 sq mi
ZIP Area
2,023
Density / Sq Mi
$128,070
Median Household Income
$59,484
Median Earnings
$1,826
Median Rent
$320,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established food-service business with event space, catering capability, and central air conditioning.
Where is this conventional restaurant located?
The property is located at 999 CONFIDENTIAL Algonquin, IL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 6,000‑square‑foot restaurant in Algonquin, Illinois; Outdoor dining area included; Private party room for hosted events
