See Home Value
Chicago 60622 Wicker Park
1383 N Milwaukee Avenue
$1,150,000*
Commercial - Off Market

1383 N Milwaukee Avenue

Chicago, IL 60622
bedrooms
Studio
bathrooms
0 Bath
square feet
3550 Sqft
$1,035,000 - $1,265,000
Reference Base Price*
0.00%
Since Dec 1, 2023
IL-Chicago
Primary Model

About This Property

Just listed! Free standing real estate with desirable tavern license and finished basement in highly sought after Wicker Park location! The Property is currently a single-story, 3,550 square foot commercial building situated upon 2,500 square feet of land on the Milwaukee Avenue Shopping Corridor Milwaukee Avenue is the heart and soul of the Wicker Park neighborhood and attracts thousands of daily shoppers visiting the endless mix of both national and local retailer options. Combined with countless restaurants and bars in the immediate area, Wicker Park has become a world-class destination for both Chicagoans and tourists alike.     This unique offering includes both the real estate and business licenses, making for a turn-key bar and restaurant opportunity. Currently operated as a cabaret and piano bar for over 24 years, this property makes for a hospitality operator's dream because it is properly licensed to accommodate a wide range of business concepts that would fit perfectly in the Wicker Park neighborhood. Bring your creative concepts to life in this charming space or continue to operate its current pristine condition.    Possibilities include a cabaret, boutique cocktail lounge, neighborhood bar, performing arts venue, restaurant, bistro, event space, cafe or more! The tavern license allows operates to sell liquor without maintaining a kitchen whereas the retail food license gives the operator the ability to sell food at any time to their guests. The cherry on top is the rare and coveted Public Place of Amusement license, which allows the business to book entertainment and charge guests an entry or ticket fee for special events or performances.      Upon entering the front double doors you'll notice  10" foot tall tin ceilings in Great condition. The first floor space is divided amongst 2 rooms, 3 individual restrooms, a back bar area and janitor closet. The front room includes hardwood flooring, a large bar, built-in banquette seating and 2 bay window nooks on each side of the double door, making for perfect seating or display areas. The rear room features a full stage lighting & sound system with A/V booth in addition to built-in banquette seating.     The dry basement was professionally dug out to provide ample 8"+ headspace and finished to include a commissary kitchen, employee restroom, sitting room (green room), management office, storage room, coat check closet and utility room. The kitchen is equipped with a rented ice machine, dishwashing station, coolers and grease trap and can be upgraded to include a wide range of kitchen hoods and cooking equipment depending on menu requirements. The storage room allows for plenty of liquor, dry food and cold food storage and can easily be converted into prep-kitchen space or walk-in cooler while still maintaining abundant storage space. The frontage on Milwaukee avenue is highly walkable and can also be granted a sidewalk cafe patio license, which would allow for additional exterior seating. Additional opportunity exists in the form of expanding into the rooftop to offer even more exterior space. Overall this property is in pristine condition and has a clean corporation and licenses, a bustling business can be opened here very quickly and with limited expenditure. This property also includes a loading zone permit in front of the building. All owned furniture, fixture and equipment is included with the purchase. Speak with listing agent for full list of FF&E. Do not disturb any employees or customers of the business.

The manager has listed the unit size as 3550 square feet.
Unit Size
3,550Ft²
Days on Market
-
Land Size
-
Price per sqft
$324
Property Type
Commercial
Property Taxes
$1,263
HOA Dues
-
Year Built
1938

Price History

Date / Event Date Event Price
Nov 1, 2023 No longer available -
No longer available
Oct 27, 2023 Sold $1,000,000
Sold
May 19, 2023 In contract -
In contract
Sep 27, 2022 Listed $1,150,000
Listed

Property Highlights

Air Conditioning


Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
Commercial
Loft
-
5,475 ft²
$210/ft²
$1,149,000 Apr 28, 2023
-
$1,162/mo
Commercial
Loft
-
6,000 ft²
$200/ft²
$1,200,000 May 4, 2023
-
$1,074/mo
Commercial
Loft
-
-
$1,150,000 Mar 29, 2023
-
$1,760/mo
Commercial
Loft
-
-
$1,300,000 Feb 7, 2023
-
$971/mo
Land
Loft
-
-
$1,100,000 Jan 24, 2023
-
$1,441/mo
Townhouse
4 Beds
4.5 Baths
3,300 ft²
$295/ft²
$975,000 Mar 21, 2023
-
$1,762/mo
House
4 Beds
2.5 Baths
3,000 ft²
$417/ft²
$1,250,000 Mar 29, 2023
-
$1,905/mo
House
3 Beds
3 Baths
4,041 ft²
$322/ft²
$1,300,000 May 17, 2023
-
$1,935/mo
House
4 Beds
3.5 Baths
2,882 ft²
$382/ft²
$1,100,000 Mar 7, 2022
-
$477/mo
Multifamily
4 Beds
3.5 Baths
3,000 ft²
$333/ft²
$999,999 Feb 14, 2023
-
$1,636/mo
Multifamily
3 Beds
3.5 Baths
2,780 ft²
$360/ft²
$1,000,000 Sep 28, 2021
-
$526/mo
Multifamily
3 Beds
2 Baths
2,800 ft²
$339/ft²
$950,000 Apr 27, 2023
-
$1,763/mo

Past Sales

Date Unit Beds Baths Sqft Price Closed Owner Listed By

Building Info

1383 North Milwaukee Avenue 1383 North Milwaukee Avenue, Chicago, IL 60622
  • 1 Unit for Sale
More about this Building
1383 North Milwaukee Avenue
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About Northwest Side


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