2024 Wabash Ave Chicago, IL 60616
- Office Properties & Spaces
- 0.48 lot acres
Current Use by Public Records
- Sherralyn Peterson / Consultant
- Ravinia Lofts / Apartment Complex / Commercial Real Estate Agency
Property Details for 2024 Wabash Ave
- Year built
- 1911
- Lot size
- 0.48 lot acres
- Property type
- Office Properties & Spaces
- APN
- 17-22-311-030-1044
- APU
- 17223110301044
Description
This exceptional 4,898 square foot free-standing restaurant is ideally located at the corner of Wabash and 21st in Chicago's vibrant South Loop, between Michigan Avenue and State Street. Built in 1998, this single-tenant property boasts a fully equipped kitchen, two walk-in coolers, and a spacious dining area with seating for over 200 patrons, plus a separate bar area. The current owner, a seasoned restaurant operator, is open to partnering with a qualified and experienced operator. The property presents a unique opportunity to capitalize on the South Loop's burgeoning growth. This dynamic neighborhood is experiencing a significant revitalization, attracting developers, investors, and businesses alike. New residential and commercial developments are transforming the area, creating a thriving environment for restaurants and other businesses. The property's strategic location ensures high visibility and accessibility, while the potential for a large outdoor patio adds further appeal. This turnkey restaurant space offers immediate operational capabilities and significant upside potential in a rapidly developing area of Chicago's Near South Side. The property is situated in Cook County.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.626
- Latitude
- 41.8545
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
