226 Sheridan Rd Waukegan, IL 60085
- Turn key restaurants
- 3,680 SF
- 0.58 lot acres
Current Use by Public Records
- Labor Solutions LLC / Employment Consultant / Human Resource Consulting
- Rosati's Pizza / Pizza Restaurant / Pizza Takeout
Property Details for 226 Sheridan Rd
- Year built
- 1985
- Construction
- BRICK
- Lot size
- 0.58 lot acres
- Property size
- 3,680 SF
- Property type
- Turn key restaurants
- APN
- 08-21-221-005
- APU
- 821221005
Description
This exceptional turnkey restaurant opportunity is located at 226 N Sheridan Road, Waukegan, IL, a prime corner location at the intersection of Grand Avenue and Sheridan Road. The 3,680 square foot building boasts a highly desirable location, situated next to a McDonald's and just one block from the Genesee Theatre, ensuring high visibility and foot traffic. Previously a successful pizza restaurant, the property retains significant existing restaurant equipment, including pizza ovens, overhead cooktops, freezers, and various other kitchen accessories. The interior features a large bar area, numerous booth seats for comfortable dining, and ample space for customer seating. An added benefit is the outdoor patio seating area, perfect for expanding capacity during warmer months. The property also includes a significant advantage with 36 on-site parking spaces, a rare find in this location. The property is being sold "as-is," presenting a unique chance for an experienced restaurateur to acquire a fully equipped establishment in a high-traffic area. The building's existing infrastructure and equipment offer immediate operational potential, minimizing start-up costs and allowing for a swift transition into business. This is an exceptional opportunity to establish or expand a restaurant business in a vibrant and growing community. The property's location and existing features make it an ideal investment for a discerning buyer seeking a ready-to-operate restaurant. The sale price is $495,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $365,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $315,000
- 6.5%
- $335,000
- 7%
- $320,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $295,000
- Geo Method
- $325,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $260,000
- Retail
- $285,000
- Mixed-Use
- $260,000
- Hospitality
- $280,000
- Educational
- $270,000
- Residential Income
- $275,000
- Energy
- $320,000
- Income-Based Land
- $335,000
- Food Service
- $280,000
Location Insight
- Map
- Local Demand
- City
- Waukegan
- County
- Lake
- State
- Illinois
- Longitude
- -87.8304
- Latitude
- 42.3634
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
