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Plaza on Dewitt 260 E Chestnut St 407 Unit Apartment Building $650,000 ($1,597/Unit) Chicago, IL 60611
INVESTMENT HIGHLIGHTS
- Fabulous location in residential area with good foot traffic.
- Open floor plan, bar, second level great for private gatherings.
- Building has a built-in audience from the condominiums onsite.
EXECUTIVE SUMMARY
Unlock the potential of this versatile first-floor commercial space located in a high foot-traffic Chicago neighborhood, surrounded by an on-site audience of 400+ condominium residents who once filled the seats of two beloved restaurants that operated here for nearly five decades.
Formerly home to Zaven’s and Le Petit Paris, this address is steeped in Chicago culinary history. Zaven’s Mediterranean-inspired dining thrived for 27 years, setting the bar for hospitality excellence, while Le Petit Paris carried the torch for another 22 years, enriching the neighborhood with intimate, authentic French cuisine. Together, they represent nearly half a century of dining legacy—now ready for its next chapter.
But this space isn’t limited to restaurant use. With a flexible footprint and strong local demand, imagine transforming it into a:
Wine bar or champagne lounge
Boutique event space
Hair or beauty salon
Café, bakery, or another standout dining concept
Creative retail concept or wellness studio
The possibilities are only limited by your vision.
The offering includes a fully equipped kitchen, a 23' x 20' lower-level storage area, 16' x 14' garage-style storage at the rear, and direct access to an attached garage—rare amenities in this market.
While no cap rate is available due to both previous owners being deceased, historical records show peak monthly gross revenue between $90,000–$100,000 (circa 1999).
Seller Financing Available — Serious Opportunity for the Right Operator.
If you’re ready to bring fresh energy to a legendary address, call me directly to discuss terms and next steps.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Views
- Carpet
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Fitness Center
- Laundry Facilities
- Pool
- Property Manager on Site
- Doorman
- Package Service
- Smoke Free
- Storage Space
- Bicycle Storage
- Maintenance on site
- Multi Use Room
- Sundeck
ABOUT 260 E CHESTNUT ST , CHICAGO, IL 60611
The space is a commercial condo on the main floor accessed by the outer lobby. There are no bedrooms in the space. The above refers to the makeup of the condominiums within the tower. This was formerly a French restaurant, and before that a Continental style restaurant. Both owners are now deceased and we do not have financial statements available to us. The restaurant was not occupied in 2024. Insurance as provided by owner was quoted as: $6,077 Yearly assessment to the condo association was quoted as: $18,116 (includes water, heat/ central air, and common area maintenance. Electricity estimated by owner at $2,400 Owner pays gas. All information was provided by current owner. We are not responsible for any errors or omissions. Onsite parking is attached but not managed by the building.
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Research In Progress
Plaza on Dewitt | 260 E Chestnut St
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