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    OFF-MARKET
    Turn key restaurants

    226 Sheridan Rd, Waukegan, IL 60085-4230

    3,680 SF 0.58 ac lot Built 1985
    Individually Owned Absentee Owner ~ Est. High Equity
    Property ID
    US28-3193340
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 1985
    Construction BRICK
    Total area 3,680 SF
    Lot 0.58 ac (25,260 SF)
    APN 08-21-221-005
    UPID US28-3193340
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Labor Solutions LLC Employment Agency
    • Rosati's Pizza Bar & Pub
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Kenneth Mccarthy
    Kenneth Mccarthy
    since 2025
    Last sale
    $425,000
    7 recorded transactions
    2026
    2025
    $425,000
    2023
    $420,000
    2023
    $420,000
    2022
    $420,000
    2013
    $300,000
    2011
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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