734 Fullerton Pkwy Chicago, IL 60614

Property Details for 734 Fullerton Pkwy

Year built

1936

Property size

2,080 SF

Property type

Retail properties & Spaces

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a fully occupied, single-tenant restaurant at 734 W. Fullerton Pkwy in Chicago's desirable Lincoln Park neighborhood. The 2,080 square foot property, built in 1936 and renovated in 2006, boasts a high-quality build-out including an 8-foot hood and a fully equipped second-floor catering/commissary kitchen with its own Type I hood and separate access. The property sits on a 1,556 square foot lot and benefits from a prominent 33-foot frontage along Fullerton Parkway, a high-traffic thoroughfare with 17,700 vehicles passing daily. Its strategic location near the five-corner intersection of Fullerton, Lincoln, and Halsted streets, places it steps from DePaul University, a major university with over 21,000 students. Additional nearby amenities include Studio Three, Equinox gym, and Chase Bank. Public transportation is readily accessible via the Brown Line at Fullerton. The property's strong demographics include a population of 494,774 within a 3-mile radius, with an average household income of $140,348. The current tenant, Mochinut, operates under a NNN lease with three years remaining and two five-year options. The current annual net operating income (NOI) is $61,225, representing a 6.00% cap rate. The asking price is $1,099,000, with a price per square foot of $528.37. Property taxes for 2023 were $16,269, insurance was $6,500, and all utilities and maintenance are the tenant's responsibility. The property is zoned B1-2. The APN is 14283110880000.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.6478

Latitude

41.9257