Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    9412 Waukegan Rd Morton Grove, IL 60053
    Back to Search
    Property profile & analytics

    9412 Waukegan Rd Morton Grove, IL 60053

    View on Map
    • Retail properties & Spaces
    • 2,200 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hal Mae Bo Ssam / Korean Barbecue Restaurant / Bossam Restaurant

    Property Details for 9412 Waukegan Rd

    Property size
    2,200 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional turnkey restaurant opportunity in Morton Grove, IL, is available due to the owner's retirement. Located at 9412 Waukegan Rd, 60053, this well-established eatery boasts 2,200 square feet of space in a single-story building, renovated in 2023. The restaurant features a modern interior, a private room perfect for parties (complete with karaoke and bar), and a diverse menu of popular Korean cuisine. A liquor license is included in the sale, along with the established goodwill of the business. The sale price is $150,000 ($68.18/sq ft), and the lease is a NNN type. The owner is offering training to ensure a smooth transition for the new owner. This is a business-only sale, representing a fantastic chance to acquire a profitable, ready-to-operate restaurant with immediate revenue potential. The property consists of two units, totaling 2,200 net rentable square feet. This is a rare opportunity to step into an existing successful business with a loyal customer base.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Morton Grove
    County
    Cook
    State
    Illinois
    Longitude
    -87.8002
    Latitude
    42.0523

    Comparable in this City

    • Value Estimation by Request
      1,700 SF

      6027 Dempster St

      Restaurants • 1,700 SF
      6027 Dempster St, Morton Grove, IL 60053
      View Details
    • Value Estimation by Request
      82,000 SF

      7901-7965 Golf Rd

      Restaurants • 82,000 SF
      7901-7965 Golf Rd, Morton Grove, IL 60053
      View Details
    • Value Estimation by Request
      2,200 SF

      9210-921 Waukegan Rd

      Land • 2,200 SF
      9210-921 Waukegan Rd, Morton Grove, IL 60053
      View Details
    • Value Estimation by Request
      21,895 SF

      7250 Dempster St

      Neighborhood centers • 21,895 SF
      7250 Dempster St, Morton Grove, IL 60053
      View Details
    • Value Estimation by Request

      7172 Dempster St

      Individual retail properties
      7172 Dempster St, Morton Grove, IL 60053
      View Details
    • Value Estimation by Request
      0.21 Acres

      9530 Waukegan Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.21 Acres
      9530 Waukegan Rd, Morton Grove, IL 60053-1354
      View Details

    Similar Nearby for Sale

    • $1,236,000
      0.63 Acres

      Prime Commercial Land in Morton Grove

      High-visibility commercial land with redevelopment potential in Morton Grove, IL.
      9021 Harlem Ave, Morton Grove, IL 60053
      View Details
    • $1,949,000
      16,000 SF

      Morton Grove Commercial Property

      Income-producing commercial property in a high-traffic location.
      6015-6049 Dempster St, Morton Grove, IL 60053
      View Details
    • $649,000
      6,959 SF

      Morton Grove Commercial Flex Property

      6,959 SF commercial property in Morton Grove for sale.
      8430 Waukegan Rd, Morton Grove, IL 60053
      View Details
    • $169,000

      Vape King Business Opportunity

      Profitable tobacco store in high-traffic Morton Grove location for sale.
      7182 Dempster St, Morton Grove, IL 60053
      View Details
    • $2,590,000

      Dempster Street Retail and Multifamily

      24,494 SF property in a thriving commercial corridor.
      5800-5814 Dempster St, Morton Grove, IL 60053
      View Details
    • $2,590,000
      14,510 SF

      Retail Property on Dempster Street

      Retail space for sale in thriving Near North neighborhood.
      5804 Dempster St, Morton Grove, IL 60053
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Morton Grove Commercial Space Available

      Prime commercial space for lease in a neighborhood plaza.
      9232 Waukegan Rd, Morton Grove, IL 60053
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Beckwith Center

      Retail space available in a busy, accessible neighborhood center.
      9225 Waukegan Rd, Morton Grove, IL 60053
      View Details
    • Contact for pricing
      4,078 SF

      Retail Space on Dempster Street

      Retail space available on heavily trafficked Dempster Street.
      7132 Dempster St, Morton Grove, IL 60053
      View Details
    • Contact for pricing
      800 SF

      Retail Space on Waukegan Road

      Retail spaces available on busy Waukegan Road, ample parking.
      9428-9438 Waukegan Rd, Morton Grove, IL 60053
      View Details
    • Contact for pricing

      Retail Space in Morton Grove

      Retail property in Chicago's North Shore, accessible from I-94/I-294.
      7250 Dempster St, Morton Grove, IL 60053
      View Details
    • $11 SF/Yr
      4,356 SF

      Column-Free Retail Space Available

      4400 SF retail/office space near Edens Expressway.
      6000-6014 Dempster St, Morton Grove, IL 60053
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    9412 Waukegan Rd
    Morton Grove, IL 60053
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    9412 Waukegan Rd, Morton Grove, IL, 60053
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!