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Map
$1,150,000*
●
Commercial -
Off Market
1383 N Milwaukee Avenue
Chicago, IL 60622
Studio
0 Bath
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.
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
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Active
Commercial
Loft
-
5,475 ft²
$210/ft²
$1,149,000
Apr 28, 2023
-
$1,162/mo
Active
Commercial
Loft
-
6,000 ft²
$200/ft²
$1,200,000
May 4, 2023
-
$1,074/mo
In Contract
Townhouse
4
Beds
4.5
Baths
3,300 ft²
$295/ft²
$975,000
Mar 21, 2023
-
$1,762/mo
In Contract
House
4
Beds
2.5
Baths
3,000 ft²
$417/ft²
$1,250,000
Mar 29, 2023
-
$1,905/mo
Active
House
3
Beds
3
Baths
4,041 ft²
$322/ft²
$1,300,000
May 17, 2023
-
$1,935/mo
In Contract
House
4
Beds
3.5
Baths
2,882 ft²
$382/ft²
$1,100,000
Mar 7, 2022
-
$477/mo
In Contract
Multifamily
4
Beds
3.5
Baths
3,000 ft²
$333/ft²
$999,999
Feb 14, 2023
-
$1,636/mo
In Contract
Multifamily
3
Beds
3.5
Baths
2,780 ft²
$360/ft²
$1,000,000
Sep 28, 2021
-
$526/mo
In Contract
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
About Northwest Side
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