Waterfront Restaurant & Bar (JPC-FL-IL-PM) 89 E Grand Ave 2,500 SF Retail Building Fox Lake, IL 60020 $564,040 CAD ($225.62 CAD/SF)

Rare Waterfront Restaurant & Bar Far Northwest Suburb of Chicago - Property Included!
"Offers Direct Channel Frontage Leading Into The Chain O' Lakes, Complete With Outdoor Seating & 4 Private Boat Slips"
An exceptionally rare opportunity to acquire both a fully equipped restaurant operation and its real estate in one of Lake County's most desirable waterfront recreational markets.
Offered as an asset sale, this established independent restaurant occupies a highly visible freestanding building with direct channel frontage, private boat docks, outdoor waterfront dining, a full-service bar and video gaming. All of the infrastructure already in place for a new owner!
This incredible opportunity allows an owner to build equity through ownership of the real estate while operating from a location that would be extremely difficult and prohibitively expensive to replicate today.
The 2,500 sqft freestanding building sits on 0.29 acres with 100 feet of road frontage, ample customer parking, excellent visibility and direct access to a navigable channel leading to one of Northern Illinois' most popular recreational lake systems. The property also features 4 private boat docks, creating a destination dining experience for boaters throughout the busy spring, summer and fall seasons while continuing to serve a loyal year-round local customer base.
Inside, the restaurant is completely equipped with a fully equipped commercial kitchen featuring a 12ft hood, numerous equipment upgrades, a dining room, full-service bar with 6 taps, video gaming area and an outdoor waterfront deck capable of accommodating additional seasonal seating. The current owners have also invested in updated kitchen equipment, plumbing improvements and a new front entrance.
For buyers seeking multiple revenue streams, this opportunity delivers. In addition to food and beverage sales, the establishment operates 6 licensed video gaming terminals, with 2025 gaming income of $72,268 reflecting strong gaming activity at this location, further demonstrating the property's established customer base.
Whether you're an owner-operator seeking your own building or an investor looking for an irreplaceable waterfront commercial property with tremendous upside, opportunities like this rarely come to market.
Location: Prime retail space in a highly desirable waterfront setting within the renowned Chain O' Lakes recreational region - one of the Midwest's premier boating and tourism destinations, attracting thousands of residents and visitors throughout the year. The Chain O' Lakes spans 15 interconnected lakes and is one of the busiest inland recreational waterways in the country, drawing boating enthusiasts, anglers, vacationers, weekend travelers and outdoor recreation lovers from across the greater Chicago metropolitan area.
Well positioned along a busy avenue surrounded by an established mix of local restaurants and neighborhood taverns. Just minutes from a movie theater, multiple shopping centers and numerous everyday service businesses, creating continuous consumer activity throughout the day and evening.
And strategically located between two of the area's primary transportation corridors near the Metra station, providing convenient access for both local residents and visitors traveling from Chicago and surrounding suburbs.
Year Established: 1993 (Current Owner 2018).
Property Information: 2,500 sqft single-story building with 24 parking spaces. On 0.29 acres or 12,545 sqft. Built in 1950. Zoned B2. Real estate taxes $6,387 a year.
The property is being offered for just $110 per square foot - well below the area's estimated retail benchmark - making it an outstanding value for an owner-user seeking to control occupancy costs while building long-term equity.
Square Feet: 2,500.
Seating: 96 (12 Barstools + 60 Inside + 24 Outside).
Days/Hrs of Operation: Mo-Fr 3p-10p & Sa-Su 10a-10p.
Owners Role: Absentee.
# Of Employees: 6.
Training: One week on-site comprehensive training.
Value of FF&E: Included In Asking Price.
Value of Inventory: Not Included In Asking Price.
Seller Financing Available: No.
Reasons for Selling: Retiring.
Competition/Market: Ideal for an experienced operator looking to continue the current concept or introduce an entirely new vision. The existing layout and infrastructure could easily accommodate numerous concepts including:
Breakfast & brunch café
- American grill
- Pizza & Italian restaurant
- Mexican restaurant & tequila bar
- BBQ restaurant
- Seafood restaurant
- Destination lakefront dining concept
- Neighborhood tavern or pub
- Sports bar
- Cocktail lounge with kitchen
- Entertainment venue with gaming
Few waterfront restaurant properties with private docks, dedicated parking, existing restaurant infrastructure and strong visibility ever become available at this price point.
The rare combination of an established restaurant facility, waterfront amenities, gaming income, valuable real estate ownership and exceptional long-term investment value - all at a price point that is difficult to duplicate in today's market.
Growth & Expansion: A new ownership has numerous opportunities to increase both sales and profitability:
1) Expand seasonal outdoor dining and entertainment on the waterfront deck with live music, themed events, boat-in parties and private gatherings to capitalize on the property's unique channel-front setting.
2) Increase food and beverage sales by extending operating hours, introducing online ordering, expanding takeout services and 3rd-party delivery.
3) Grow bar revenue through specialty cocktails, craft beer, happy hour promotions and community events.
4) Increase gaming revenue through targeted promotions and player loyalty programs.
5) Rebrand or introduce a new concept while leveraging the fully equipped kitchen, full-service bar, private boat docks and highly desirable waterfront location.
This is a HIGHLY confidential listing, DO NOT talk to any owners, employees or patrons. If interested, please email Pat Mahoney at Pat@eatz-associates.com or call 847-208-9569 for more information. Showings by appointment only outside of business hours.
Listed by Pat Mahoney & Tom Traina at EatZ & Associates/EatZ Real Estate Group