11 Illinois StChicago, IL 60654

Property Details for 11 Illinois St

Year built

1902

Lot size

0.11 AC

Property size (Sq ft)

19,600 SF

Property type

Office buildings

APN

17-09-255-010

APU

1709255010

Description

This exceptional River North restaurant opportunity offers 5,400 square feet of fully equipped space, currently vacant and ready for immediate occupancy. The main level boasts 4,200 square feet, featuring floor-to-ceiling operable windows, a 40-foot full-service bar, a complete open kitchen with a 16-foot hood, and adjacent prep areas with hand sinks. A dedicated dishwashing room with a triple sink and grease trap, plus ADA-compliant restrooms, complete the first floor. The lower level, encompassing 1,200 square feet, includes two large walk-in coolers, a substantial prep area with floor drain and sinks, a large ice machine area, an employee restroom, dry goods storage, a secure liquor storage room, and a sizable office with a safe. The entire space is in excellent condition, equipped with wired security cameras. The property is zoned DX7 and situated on Illinois Street between Dearborn and State Streets, in the vibrant River North submarket of Chicago, IL (zip code 60654). This turnkey space is ideal for experienced and well-funded restaurateurs seeking a move-in ready establishment. Minimum divisible space is 1,200 square feet, with a maximum contiguous space of 4,200 square feet. The building has two total suites.

• CAP approach

  CAP return

  Valuation

  6%

  $6,298,882

  6.5%

  $5,814,352

  7%

  $5,399,041

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,552,900

  Geo Method

  $2,552,900

• Alternative Use

  Use

  Valuation

  Residential

  $7,209,796

  Hospitality

  $6,604,135

  Educational

  $5,494,562

  Medical

  $5,683,529

  Retail

  $8,547,098

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.8906

Longitude

-87.6285

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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