Ridgewood Tap | 2059 Ridge Rd 2057-2059 Ridge Rd 7,718 SF 50% Leased Retail Building Homewood, IL 60430 $2,282,940 CAD ($295.79 CAD/SF) 8.84% Cap Rate

Rare opportunity to acquire a substantially renovated mixed-use property and established bar/restaurant business in the heart of Downtown Homewood. 2059 Ridge Road features an operating bar/restaurant with a 3-way liquor license, package sales and video gaming, four income-producing apartments, plus additional restaurant/food-service space offering potential for a second concept, expansion or third-party lease income.
The commercial portion of the property underwent an extensive gut renovation in 2023, including the main-level commercial spaces, basement and major mechanical, plumbing and electrical systems. The significant recent capital investment provides a modernized foundation for an incoming owner/operator while offering multiple avenues for additional revenue growth.
The property benefits from four residential apartments above the commercial space, providing an established income stream independent of the business operations. Combined with the existing bar, liquor/package sales, video gaming and available restaurant space, the property offers a unique combination of real estate, business and value-add potential.
Located in the heart of Downtown Homewood, the property is positioned to benefit from significant public and private investment in the immediate area. The approximately $21 million redevelopment of the nearby Homewood Metra station has been completed, while two proposed five-story mixed-use developments are planned to add a combined 146 market-rate apartments and approximately 8,000 SF of commercial space nearby, including one development directly across Ridge Road.
With substantial recent renovations, multiple existing revenue components, additional restaurant space and significant surrounding transit-oriented development, 2059 Ridge Road offers a compelling opportunity for an owner/operator or investor seeking a well-positioned mixed-use asset with multiple paths for future growth.