104 Oak StChicago, IL 60611

Property Details for 104 Oak St

Year built

1946

Lot size

0.06 AC

Property type

Office properties

APN

17-04-422-042-1001

APU

17044220421001

Description

This exceptional 13,425-square-foot restaurant presents a unique investment opportunity in Chicago's vibrant Near North submarket. Located near North Michigan Avenue in Cook County, this single-tenant property boasts a light and bright interior with high ceilings, creating an inviting atmosphere for patrons. A significant advantage is the inclusion of an outdoor dining patio, expanding seating capacity and enhancing the overall dining experience. The property has a proven track record of success, demonstrating consistent annual sales exceeding $7,000,000. This established business offers a turnkey operation for a prospective buyer, minimizing the need for extensive renovations or start-up costs. The asking price includes $500,000 in key money, representing a valuable asset transfer alongside the established business. This prime location in a high-traffic area of Chicago offers exceptional visibility and accessibility, ensuring continued success for the right operator. The property's size and features make it suitable for a variety of culinary concepts, providing flexibility for a potential buyer to tailor the space to their specific vision. This is a rare opportunity to acquire a thriving restaurant with significant earning potential in one of Chicago's most desirable neighborhoods. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $903,697

  6.5%

  $834,182

  7%

  $774,597

• Comparable approach

  Method

  Valuation

  Relative Method

  $366,263

  Geo Method

  $366,263

• Alternative Use

  Use

  Valuation

  Residential

  $1,034,385

  Hospitality

  $947,491

  Educational

  $788,302

  Medical

  $815,412

  Retail

  $1,226,247

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9007

Longitude

-87.6316

CBSA code

16980

CBSA name

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

Property Tax & Assessments

FAQs

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