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15 W Illinois St 3,715 - 15,792 SF of Retail Space Available in Chicago, IL 60654
HIGHLIGHTS
- Turnkey Restaurant in River North
- Retractable storefront and rooftop
- Property includes multiple existing licenses (PPA)
- 6,000 SF Ground Floor + 6,000 SF 2nd Floor
- Occupancy capacity of 370 seated (578 standing)
- Fully furnished kitchen
SPACE AVAILABILITY (3)
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| Lower Level | 3,715 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | Negotiable | ||
| 1st Floor | 6,077 SF | 5-10 Years | Upon Request Upon Request Upon Request Upon Request | Triple Net (NNN) | ||
| 2nd Floor | 6,000 SF | 5-10 Years | Upon Request Upon Request Upon Request Upon Request | Triple Net (NNN) |
Lower Level
Located in the heart of Chicago’s vibrant River North neighborhood, 15 West Illinois is a 15,792 SF turnkey restaurant space available for lease. The property spans three levels, including a 6,077 SF ground floor, a 6,000 SF second floor, and a 3,715 SF basement. Featuring a retractable storefront and rooftop, high 16-foot ceilings, and black iron infrastructure, the space is fully equipped to support a high-volume restaurant or entertainment venue. With an occupancy capacity of 370 seated guests (578 standing), the property includes multiple existing licenses, such as an Illinois State Liquor License, Retail Food Establishment License, Public Place of Amusement License, and Caterer’s Liquor License, making it a ready-to-operate opportunity. The surrounding area benefits from strong demographics, with high-income residents and significant foot traffic, making it an excellent location for a flagship dining or nightlife concept.
- Fully Built-Out as a Drinking Establishment
- Located in-line with other retail
- Space is in Excellent Condition
- Kitchen
- Turnkey Restaurant in River North
- 6,000 SF Ground Floor + 6,000 SF 2nd Floor
- 3,715 square feet of storage at Lower Level
- Occupancy capacity of 370 seated (578 standing)
- Property includes multiple existing licenses (PPA)
- Fully furnished kitchen
1st Floor
Located in the heart of Chicago’s vibrant River North neighborhood, 15 West Illinois is a 15,792 SF turnkey restaurant space available for lease. The property spans three levels, including a 6,077 SF ground floor, a 6,000 SF second floor, and a 3,715 SF basement. Featuring a retractable storefront and rooftop, high 16-foot ceilings, and black iron infrastructure, the space is fully equipped to support a high-volume restaurant or entertainment venue. With an occupancy capacity of 370 seated guests (578 standing), the property includes multiple existing licenses, such as an Illinois State Liquor License, Retail Food Establishment License, Public Place of Amusement License, and Caterer’s Liquor License, making it a ready-to-operate opportunity. The surrounding area benefits from strong demographics, with high-income residents and significant foot traffic, making it an excellent location for a flagship dining or nightlife concept.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as a Drinking Establishment
- Located in-line with other retail
- High End Trophy Space
- Can be combined with additional space(s) for up to 12,077 SF of adjacent space
- Turnkey Restaurant in River North
- 6,000 SF Ground Floor + 6,000 SF 2nd Floor
- Retractable storefront and rooftop
- Occupancy capacity of 370 seated (578 standing)
- Property includes multiple existing licenses (PPA)
- Fully furnished kitchen
2nd Floor
Located in the heart of Chicago’s vibrant River North neighborhood, 15 West Illinois is a 15,792 SF turnkey restaurant space available for lease. The property spans three levels, including a 6,077 SF ground floor, a 6,000 SF second floor, and a 3,715 SF basement. Featuring a retractable storefront and rooftop, high 16-foot ceilings, and black iron infrastructure, the space is fully equipped to support a high-volume restaurant or entertainment venue. With an occupancy capacity of 370 seated guests (578 standing), the property includes multiple existing licenses, such as an Illinois State Liquor License, Retail Food Establishment License, Public Place of Amusement License, and Caterer’s Liquor License, making it a ready-to-operate opportunity. The surrounding area benefits from strong demographics, with high-income residents and significant foot traffic, making it an excellent location for a flagship dining or nightlife concept.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as a Drinking Establishment
- Located in-line with other retail
- High End Trophy Space
- Can be combined with additional space(s) for up to 12,077 SF of adjacent space
- Turnkey Restaurant in River North
- 6,000 SF Ground Floor + 6,000 SF 2nd Floor
- Retractable storefront and rooftop
- Occupancy capacity of 370 seated (578 standing)
- Property includes multiple existing licenses (PPA)
- Fully furnished kitchen
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
SELECT TENANTS AT 15 W ILLINOIS ST, CHICAGO, IL 60654
- TENANT
- DESCRIPTION
- US LOCATIONS
- REACH
- Welcome to the Farm
- Restaurant
- 1
- National
| TENANT | DESCRIPTION | US LOCATIONS | REACH |
| Welcome to the Farm | Restaurant | 1 | National |
PROPERTY FACTS
| Total Space Available | 15,792 SF | Property Subtype | Storefront Retail/Office |
| Max. Contiguous | 12,077 SF | Gross Leasable Area | 15,792 SF |
| Property Type | Retail | Year Built | 2016 |
| Total Space Available | 15,792 SF |
| Max. Contiguous | 12,077 SF |
| Property Type | Retail |
| Property Subtype | Storefront Retail/Office |
| Gross Leasable Area | 15,792 SF |
| Year Built | 2016 |
ABOUT THE PROPERTY
Located in the heart of Chicago’s vibrant River North neighborhood, 15 West Illinois is a 15,792 SF turnkey restaurant space available for lease. The property spans three levels, including a 6,077 SF ground floor, a 6,000 SF second floor, and a 3,715 SF basement. Featuring a retractable storefront and rooftop, high 16-foot ceilings, and black iron infrastructure, the space is fully equipped to support a high-volume restaurant or entertainment venue. With an occupancy capacity of 370 seated guests (578 standing), the property includes multiple existing licenses, such as an Illinois State Liquor License, Retail Food Establishment License, Public Place of Amusement License, and Caterer’s Liquor License, making it a ready-to-operate opportunity. The surrounding area benefits from strong demographics, with high-income residents and significant foot traffic, making it an excellent location for a flagship dining or nightlife concept.
- Signage
NEARBY MAJOR RETAILERS
Contact the Leasing Agent
15 W Illinois St