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Prime Location, Second Gen Restaurant Space 1559 N Milwaukee Ave 2,950 SF of Retail Space Available in Chicago, IL 60622
SUBLEASE HIGHLIGHTS
- ***ASKING $299K FOR THE EXISTING EQUIPMENT, LICENSES AND LEASE
- Existing kitchen includes a 17ft hood with black iron, ansil system, three compartment sink, grease trap, mop sink, and large prep area in the rear
- 2950 SF second generation restaurant, located on Milwaukee, just South of the North/Damen/Milwaukee Intersection
SPACE AVAILABILITY (1)
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 2,950 SF | Negotiable | $60.23 CAD/SF/YR $5.02 CAD/SF/MO $177,691 CAD/YR $14,808 CAD/MO | Triple Net (NNN) |
1st Floor
***ASKING $299K FOR THE EXISTING EQUIPMENT, LICENSES AND LEASE. 2950 SF second generation restaurant, located on Milwaukee, just South of the North/Damen/Milwaukee Intersection. Surrounded by dense residential buildings, heavy traffic and ideal for a new restaurant tenant. Front space features a recently renovated build out, large garage style windows, customer seating (30 tables/60 seats), bar counter (8 seats) and multiple bathrooms. Existing kitchen includes a 17ft hood with black iron, ansil system, three compartment sink, grease trap, mop sink, and large prep area in the rear. Built in audio in the dining area; No basement; Security system throughout; 200 AMP electrical; Licenses include Incidental Liquor and Retail Food; 0.1 Miles to the Damen Blue Line Train Station, plus easy access to the Expressway, Divvy Stations and multiple bus stops. Area tenants include: The Roby, Subterranean, Barnes & Noble, Warby Parker, Piece Pizzeria and Brewery, Big Star Taco, Levi’s Store, Abercrombie & Fitch, Insomnia Cookies and much more!
- Sublease space available from current tenant
- 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
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.
SELECT TENANTS AT PRIME LOCATION, SECOND GEN RESTAURANT SPACE
- TENANT
- DESCRIPTION
- US LOCATIONS
- REACH
- Bloom Plant Based Kitchen
- Accommodation and Food Services
- 1
- -
| TENANT | DESCRIPTION | US LOCATIONS | REACH |
| Bloom Plant Based Kitchen | Accommodation and Food Services | 1 | - |
PROPERTY FACTS
| Total Space Available | 2,950 SF | Gross Leasable Area | 2,950 SF |
| Property Type | Retail | Year Built/Renovated | 1914/2021 |
| Total Space Available | 2,950 SF |
| Property Type | Retail |
| Gross Leasable Area | 2,950 SF |
| Year Built/Renovated | 1914/2021 |
ABOUT THE PROPERTY
***ASKING $299K FOR THE EXISTING EQUIPMENT, LICENSES AND LEASE. 2950 SF second generation restaurant, located on Milwaukee, just South of the North/Damen/Milwaukee Intersection. Surrounded by dense residential buildings, heavy traffic and ideal for a new restaurant tenant. Front space features a recently renovated build out, large garage style windows, customer seating (30 tables/60 seats), bar counter (8 seats) and multiple bathrooms. Existing kitchen includes a 17ft hood with black iron, ansil system, three compartment sink, grease trap, mop sink, and large prep area in the rear. Built in audio in the dining area; No basement; Security system throughout; 200 AMP electrical; Licenses include Incidental Liquor and Retail Food; 0.1 Miles to the Damen Blue Line Train Station, plus easy access to the Expressway, Divvy Stations and multiple bus stops. Area tenants include: The Roby, Subterranean, Barnes & Noble, Warby Parker, Piece Pizzeria and Brewery, Big Star Taco, Levi’s Store, Abercrombie & Fitch, Insomnia Cookies and much more!
- Signage
NEARBY MAJOR RETAILERS
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Prime Location, Second Gen Restaurant Space | 1559 N Milwaukee Ave
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