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1023 W Lake St 2,500 SF of Retail Space Available in Chicago, IL 60607
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Ceiling
- Term
- Rental Rate
- Rent Type
| Space | Size | Ceiling | Term | Rental Rate | Rent Type | |
| 1st Floor | 2,500 SF | 14’ | 5-10 Years | $143.82 CAD/SF/YR $11.99 CAD/SF/MO $359,557 CAD/YR $29,963 CAD/MO | Triple Net (NNN) |
1st Floor
Positioned in the heart of Chicago’s premier dining and nightlife corridor this 2500 square foot, fully built-out corner restaurant opportunity at 1023 W. Lake Street offers a rare turnkey presence less than one block from the highly trafficked Morgan CTA Green/Pink Line station. This space benefits from exceptional pedestrian visibility, strong daytime office traffic, and immediate proximity to many of the neighborhood’s most prominent restaurants, hotels, tech tenants, and entertainment venues. Formerly occupied by Riccardo Osteria, the space features an architecturally distinctive buildout blending historic Fulton Market character with modern hospitality design. The dramatic corner frontage is anchored by restored cast iron detailing, oversized glass storefront along Lake Street, and expansive operable nano-style folding glass doors along Carpenter that create an indoor/outdoor dining experience. The façade is enhanced with decorative lighting, custom planters, and a highly visible blade sign presence along Lake Street. Inside, the restaurant offers 14’ ceilings, exposed brick walls, hardwood flooring, custom millwork, acoustic ceiling treatments, designer lighting, and ample natural light with its hard corner location. The layout accommodates a variety of restaurant concepts ranging from upscale casual, to three meal-a-day concepts, as well as chef-driven dining to cocktail-focused hospitality users. The existing improvements include: • Fully built-out bar and dining room • Large operable storefront systems opening to the street along Carpenter • Commercial kitchen with black iron hood infrastructure and cooking line • Existing bar equipment and back bar millwork • ADA restrooms • Rear back of house kitchen, as well as lower-level prep kitchen and walk-in cooler. • Lower-level storage/support space with direct interior access • Strong corner identity and branding opportunities • Excellent visibility from both vehicular, CTA, and pedestrian traffic The location offers immediate access to the Morgan CTA station, one of the busiest transit stops serving Fulton Market and the West Loop, with approximately 3,500 average weekday riders. Surrounded by dense residential development, boutique hotels, corporate office users, and nationally recognized dining concepts, the property sits within one of Chicago’s most active hospitality trade areas. This is a rare opportunity to lease a highly improved, second-generation restaurant space with significant existing infrastructure in a premier Fulton Market location.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as a Restaurant or Café Space
- Space is in Excellent Condition
- Central Air and Heating
- Freezer Space
- Corner Space
- High Ceilings
- Finished Ceilings: 14’
- Basement
- Private Restrooms
- Hardwood Floors
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
Property Facts
| Total Space Available | 2,500 SF | Gross Leasable Area | 7,500 SF |
| Property Type | Retail | Year Built | 1896 |
| Total Space Available | 2,500 SF |
| Property Type | Retail |
| Gross Leasable Area | 7,500 SF |
| Year Built | 1896 |
About the Property
Positioned in the heart of Chicago’s premier dining and nightlife corridor this 2500 square foot, fully built-out corner restaurant opportunity at 1023 W. Lake Street offers a rare turnkey presence in an iconic 1896 vintage Tied House building less than one block from the highly trafficked Morgan CTA Green/Pink Line station. This space benefits from exceptional pedestrian visibility, strong daytime office traffic, and immediate proximity to many of the neighborhood’s most prominent restaurants, hotels, tech tenants, and entertainment venues. Formerly occupied by Riccardo Osteria, the space features an architecturally distinctive buildout blending historic Fulton Market character with modern hospitality design. The dramatic corner frontage is anchored by restored cast iron detailing, oversized glass storefront along Lake Street, and expansive operable nano-style folding glass doors along Carpenter that create an indoor/outdoor dining experience. The façade is enhanced with decorative lighting, custom planters, and a highly visible blade sign presence along Lake Street. Inside, the restaurant offers 14’ ceilings, exposed brick walls, hardwood flooring, custom millwork, acoustic ceiling treatments, designer lighting, and ample natural light with its hard corner location. The layout accommodates a variety of restaurant concepts ranging from upscale casual, to three meal-a-day concepts, as well as chef-driven dining to cocktail-focused hospitality users. The existing improvements include: • Fully built-out bar and dining room • Large operable storefront systems opening to the street along Carpenter • Commercial kitchen with black iron hood infrastructure and cooking line • Existing bar equipment and back bar millwork • ADA restrooms • Rear back of house kitchen, as well as lower-level prep kitchen and walk-in cooler. • Lower-level storage/support space with direct interior access • Strong corner identity and branding opportunities • Excellent visibility from both vehicular, CTA, and pedestrian traffic The location offers immediate access to the Morgan CTA station, one of the busiest transit stops serving Fulton Market and the West Loop, with approximately 3,500 average weekday riders. Surrounded by dense residential development, boutique hotels, corporate office users, and nationally recognized dining concepts, the property sits within one of Chicago’s most active hospitality trade areas. This is a rare opportunity to lease a highly improved, second-generation restaurant space with significant existing infrastructure in a premier Fulton Market location.
- Bus Line
- Signage
- Air Conditioning
Nearby Major Retailers
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1023 W Lake St
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