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1575 N Milwaukee Ave 2,345 - 3,938 SF of Retail Space Available in Chicago, IL 60622
SUBLEASE HIGHLIGHTS
- Visit us at kudangroup.com for more info on this listing and similar offerings, including virtual tours and pictures.
- Join our Facebook group page Hospitality Resource Hub to connect with other industry professionals and receive info on relevant news. Find link below.
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SPACE AVAILABILITY (1)
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 2,345-3,938 SF | Negotiable | $104.69 CAD/SF/YR $8.72 CAD/SF/MO $412,285 CAD/YR $34,357 CAD/MO | Triple Net (NNN) |
1st Floor
High occupancy restaurant and bar available for sale. A coveted locale with high pedestrian and street traffic. This is an operating business. Do not approach management and employees. All prospects must sign a non-disclosure agreement and provide strong financials. Visit our website at kudangroup.com or refer to the links below for more info on this listing and other hospitality offerings, including restaurants, bars/taverns, entertainment venues, breweries, dispensaries and much more. Stay in the know and receive current updates, new offerings and relevant industry info and events by joining our email list and private Facebook Group page.
- Sublease space available from current tenant
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as a Drinking Establishment
- Located in-line with other retail
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 | 3,938 SF | Gross Leasable Area | 3,938 SF |
| Min. Divisible | 2,345 SF | Year Built | 1920 |
| Property Type | Retail |
| Total Space Available | 3,938 SF |
| Min. Divisible | 2,345 SF |
| Property Type | Retail |
| Gross Leasable Area | 3,938 SF |
| Year Built | 1920 |
ABOUT THE PROPERTY
Home of Wicker Park's longest-running dance club this multi-media lounge operates on two levels of the famed Flat Iron Building. The space has DJ booths and bars on both floors and a dance performance stage. Known for close to two decades as the "music, food, art, romance and dancing" center. From Lollapalooza parties and temp home to the historic shuttered NEO, to impressive DJ rosters that included names the likes of Diplo, Thom Yorke and The Cool Kids. This is an opportunity to continue the legendary club with potential to expand into a second-generation restaurant with its own frontage and entry for duo-concepts. This is lease assignment and asset sale. Refer to the flyer for details. Visit our website at kudangroup.com or refer to the links below for more info on this listing and other hospitality offerings, including restaurants, bars/taverns, entertainment venues, breweries, dispensaries and much more. Stay in the know and receive current updates, new offerings and relevant industry info and events by joining our email list and private Facebook Group page.
NEARBY MAJOR RETAILERS
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1575 N Milwaukee Ave
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