Retail Business for Sale in Chicago, IL

  • Price: $875K
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Chicago, IL 60634
  • Size: 4,800 SF
  • Year built: 1951

Description

For Sale – Fully Built-Out Restaurant Space | 4,800 SF | Chicago, IL KW Commercial is pleased to present 3139 N Central Ave, Chicago, IL 60634 — a premier 4,800 square foot, second-generation restaurant space for sale, ideally situated off the hard corner of Central Ave and Belmont Ave. This high-visibility location offers exceptional signage exposure, excellent accessibility, and strong vehicle and pedestrian traffic. The property features a full upscale restaurant buildout and fully equipped commercial kitchen, ideal for a variety of dining formats including buffet, fine dining, and quick-service models. Property Highlights 4,800 SF of fully built-out restaurant space Prime location at Central Ave. & Belmont Ave., one of the area’s busiest intersections Highly visible corner with heavy foot and vehicle traffic Turnkey, second-generation restaurant with premium finishes Zoned for B3-2, allowing for restaurant and other commercial uses Interior Dining Features (14) Private booths with adjustable lighting for intimate dining (2) Large private booths suitable for VIP guests or private parties (4) Large tables (seating 8 each) ideal for groups and events (3) 6-ft banquet tray heaters for buffet service Central water pillar as a unique architectural focal point (2) Flat screen TVs (1 large, 1 small) State-of-the-Art Commercial Kitchen Chip station & POS system Ice cream cooler (2) 6-ft pastry standing coolers Ice machine Keg system with (2) lines: One line with (3) outputs One line with (2) outputs Pepsi cooler (6) Juice mixer stations Fresh orange juice extractor Veryfine standing cooler 13-ft hood system Large flat stone & large grill stove (8 burners) Additional stove: 6-burner grill + 2-burner flat stove 15-ft cooler/service/equipment station (2) Basket fryer (2) Bin sink + (1) bin sink + hand wash sink Jackson commercial dishwasher Range guard fire suppression system 8-ft prep station (2) Section standing cooler Alliance refrigeration ice machine 2-door walk-in coo

Market Context

This retail in Chicago, IL is listed for sale at $875,000 across 4,800 SF ($182/SF). The building dates to 1951. It has been on the market for 38 days. Compare it against other retail listings for sale in Chicago, IL — <a href="/search/sale/retail/illinois/chicago">view the full market</a>.

As of Q1 2026, the Chicago retail market showed average asking rents near $22.27/SF/yr, and cap rates around 8.2%. Source: Consensus Q1 2026 market report.

Retail market FAQ

What is the typical cap rate for retail in Chicago?
About 8.2% as of Q1 2026, per Consensus.

Unified Estimate

Medium Confidence

$80.14/SF – $108.42/SF

Mid: $94.28/SF

Total estimate for 4,800 SF: $452,544

Rate estimator only; cost-of-business estimate unavailable.

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