$1,500,000
1401 W Devon Avenue
Chicago, IL, 60660
Tremendous opportunity to own a 3,950 square foot free standing fully equipped award-winning restaurant, with a 3,950 square foot basement (currently used for a prep kitchen, office space, green room, storage and 2 walk in coolers & 1 walk in freezer). Both dining rooms are beautifully decorated & the bar features an original art deco style back bar & matching fireplace surround (double sided). FF & E can be purchased seperately. The property can be used for other commercial uses or can be redeveloped into a mixed-use development. The property’s Zoning is B3-2. The building is located on 8,250 (125′ x 66′) square feet of land (lots 1 & 2). The adjacent vacant land parcel (lot 3), 6346 N. Glenwood Avenue, totaling 4,166 square feet (125′ x 33′), is not included in the current offering but can be purchased separately. This parcel is listed by Barbara O’Connor from Dream Town and the brokers will work together if a group is interested all parcels. The building’s roof top is home to the country’s 1st certified organic roof top farm. – M.O.S.A. 2008 The prior tenant uses the parking lot for a year-round licensed beer garden. Alternatively, there is parking for 8 cars on lot 1 & 2. The prior tenant had food, incidental liquor license, beer garden & a full public place of amusement license. There is also a state-of-the-art sound system in the back entertainment room. Current occupancy is 145 indoor seats. The property is in Chicago’s Northside Edgewater neighborhood in walking distance to Loyola University, CTA Loyola Red Line Train Stop, Edgewater Beach and recently opened Target store located on Sheridan Avenue. Edgewater was ranked by ‘Money’ website as the fifth top 50 places to live in the U.S.
Property Details
Price:
$1,500,000 / $1,450,000
MLS #:
MRD11649568
Status:
Closed ((Feb 5, 2024))
Beds:
0
Baths:
0
Address:
1401 W Devon Avenue
Type:
Commercial
Subtype:
Restaurant
City:
Chicago
Listed Date:
Oct 10, 2022
State:
IL
Finished Sq Ft:
3,950
ZIP:
60660
Year Built:
1978
Schools
Interior
Cooling
Central Air
Exterior
Financial
Buyer Agent Compensation
AS A PERCENTAGE OF THE NET SALE PRICE. THE NET SALE PRICE IS THE GROSS SALE PRICE MINUS AMOUNTS TO BE CREDITED OR PAID TO THE BUYER, AS REFLECTED IN THE INITIAL SALES CONTRACT.Net Sale Price
Tax Year
2021
Taxes
$32,628
Debra Dobbs is one of Chicago’s top realtors with more than 39 years in the real estate business.
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1401 W Devon Avenue
Chicago, IL
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