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Pending
49 E Cermak RD Chicago, IL 60616
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Key Details
Property Type Commercial
Sub Type Retail/Stores
Listing Status Pending
Purchase Type For Rent
MLS Listing ID 12713382
Year Built 1930
Annual Tax Amount $43,555
Tax Year 2024
Property Sub-Type Retail/Stores
Property Description
TURNKEY RESTAURANT SPACE | PRIME SOUTH LOOP LOCATION 43-51 E. Cermak Road | Chicago, IL 60616 The Opportunity A rare opportunity to lease fully built-out, high-capacity restaurant space in one of Chicago's most active and strategically located commercial corridors. The property offers 3,162 SF of total restaurant space, with the flexibility to accommodate either a single operator leasing the entire premises or two separate restaurant concepts occupying 1,581 SF each. Whether you are looking to establish a flagship location, expand an existing brand, launch a new concept, or secure a smaller-format restaurant space with substantial existing infrastructure, the property offers a flexible and efficient path to opening. Operators may lease: Option 1: 1,581 SF restaurant space Option 2:1,581 SF restaurant space Option 3:The entire 3,162 SF premises This flexible configuration creates an opportunity for two independent restaurant operators to occupy the property side by side or for one tenant to control the entire space and potentially operate multiple concepts from a single location. The Space 3,162 SF of purpose-built restaurant space designed to support high-volume food preparation and restaurant operations. This is not a traditional vanilla-box delivery. The property features substantial existing commercial kitchen infrastructure, including: Two 20-foot hoods and one 9-foot hood Fryers, ovens, and high-output cooking lines Two walk-in coolers Tilt skillet and deli slicer High-capacity dishwashers Existing infrastructure supporting multiple preparation and service lines The existing layout and infrastructure provide operators with the opportunity to significantly reduce the time and cost associated with building a restaurant from the ground up. Whether occupied by one flagship operator or divided between two complementary restaurant concepts, the property is designed to support efficient, high-output operations. Bring your concept and finishing touches and take advantage of a restaurant space where much of the critical infrastructure is already in place. Lease Terms Base Rent:$32.00/SF NNN Estimated NNN Expenses: Real Estate Taxes: $14.00/SF Insurance & CAM: $6.00/SF Total Estimated NNN Expenses: $20.00/SF Total Estimated Occupancy Cost:$52.00/SF NNN expenses are based on the total 3,162 SF premises and would be allocated proportionately for a tenant leasing one of the 1,581 SF restaurant spaces. The Location Positioned along a high-traffic, high-visibility corridor at the convergence of the South Loop, Chinatown, McCormick Place, and Chicago's lakefront. Half block from multiple hotels Steps from McCormick Place and Wintrust Arena Strong convention and event-driven traffic throughout the year Dense mix of apartments, condominiums, and senior housing Significant daytime population supporting lunch, takeout, and delivery demand Convenient access to Downtown Chicago and surrounding neighborhoods The location is well suited for dine-in, takeout, delivery, catering, and high-volume service models, with demand generated by a diverse mix of neighborhood residents, commuters, convention attendees, hotel guests, tourists, and event traffic. Proven Restaurant Corridor The property benefits from a long-standing history as a restaurant location, dating back to its original use by White Castle in the 1930s-a testament to the enduring strength of the Cermak Road corridor for food-service uses. Who This Is For Established restaurant groups seeking a new Chicago location Operators looking for 1,581 SF of turnkey restaurant space Larger operators seeking the entire 3,162 SF premises Groups interested in operating multiple concepts from one location Chefs and restaurateurs seeking a lower-buildout, faster-launch opportunity Restaurant brands looking to establish a presence near McCormick Place, Chinatown, and the South Loop
Location
State IL
County Cook
Area Chi - Near South Side
Interior
Cooling Central Air
Fireplace N
Building
Dwelling Type Retail/Stores
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Anthony Hardy of Keller Williams ONEChicago
