120 N Hale St 13,884 SF 92% Leased Retail Building Wheaton, IL 60187 For Sale

Fantastic 13,884 SF mixed-use retail restaurant/office building for sale, renovated in 2009. Building sits on a 0.20-acre lot, zoned C-2 in Wheaton, with 6 on-site parking spaces and modest street frontage of 7 feet on Hale St. Building is three floors with a built out restaurant space on the first floor and office spaces on the second and third.
The building is anchored by retail restaurant tenant Ivy Restaurant, an upscale chophouse operating at this location since 2009. The restaurant space boasts a magnificent 30-foot vaulted dining room accommodating 175 patrons, plus two private dining and event spaces for cocktail parties, weddings, and showers. The layout includes a Chef's Room with seating for 20 guests near a fireplace and overlooking the outdoor dining space, plus a Board Room for up to 5- patrons, located up a winding staircase that includes a private bar and great views of downtown Wheaton. Restaurant space has a three-season outdoor patio seating 72 additional patrons, and an intimate lounge sporting a hand-crafted walnut bar seating 48. Other unique aspects of the space include outdoor ivy and vines, stained glass windows, and a central fireplace.
The property sits on a block in the heart of a genuinely walkable, event-driven downtown and is just a 5 minute walk from the Wheaton Metra station. Every year, from May to October, the Downtown Wheaton Association closes Hale Street to vehicle traffic and puts up white tents the length of the roadway for outdoor dining. This has shifted the area from being a pass-through area to a dining destination people now travel to, making Ivy a highly sought after experience.
The surrounding retail mix is a deliberately local one — mostly locally-owned storefronts and homes-turned-shops, alongside a few regional names, with the Illinois Prairie Path cutting through the neighborhood and a covered pavilion hosting the Wheaton French Market. Residential demand nearby is a mix of condo/rental product and older housing stock, and Wheaton overall has repeatedly ranked among the "top 25 highest-earning towns" and best places to live by Money magazine, with an award-winning park district (52 parks, 800+ acres), the Cosley Zoo, and the historic Chicago Golf Club in the broader area.