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Restaurant, Bar and Event Property 4868 IL Route 83 16,000 SF Retail Building Long Grove, IL 60047 For Sale



Investment Highlights
- Visit us at kudangroup.com for more info on this listing and similar offerings, including virtual tours and pictures.
- Join our Facebook group page Hospitality Resource Hub to connect with other industry professionals and receive info on relevant news. Link below.
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Executive Summary
A high-capacity, multi-level restaurant, bar, and event venue positioned on a prominent hard-corner intersection in Long Grove. Meticulously owner-developed and expanded over time, the property spans a generous four-acre site, offering exceptional functionality and future flexibility. Ample on-site parking supports large guest volumes, while the expansive lot provides room for additional uses—previous concepts proposed have included a drive-in outdoor movie experience and other special event programming. Dual curb cuts on two separate routes enhance accessibility and traffic flow.
This turnkey asset features three fully equipped kitchens with multiple hoods, a hearth, and dumbwaiter access. The interior layout includes four distinct guest areas: a spacious island bar with potential for gaming machines, a ground-floor dining room, a dramatic mezzanine overlooking the bar and main dining area, and a dedicated party room ideal for private events or overflow. All levels are elevator-served for seamless circulation. Back-of-house operations are supported by extensive storage, multiple walk-ins, and a large secured liquor room—an ideal setup for high-volume operators seeking a well-designed, ready-to-go facility.
Visit our website at kudangroup.com or refer to the links below for more info on this listing and other hospitality offerings, including restaurants, bars/taverns, entertainment venues, breweries, dispensaries and much more. Stay in the know and receive current updates, new offerings and relevant industry info and events by joining our email list and private Facebook Group page.
This turnkey asset features three fully equipped kitchens with multiple hoods, a hearth, and dumbwaiter access. The interior layout includes four distinct guest areas: a spacious island bar with potential for gaming machines, a ground-floor dining room, a dramatic mezzanine overlooking the bar and main dining area, and a dedicated party room ideal for private events or overflow. All levels are elevator-served for seamless circulation. Back-of-house operations are supported by extensive storage, multiple walk-ins, and a large secured liquor room—an ideal setup for high-volume operators seeking a well-designed, ready-to-go facility.
Visit our website at kudangroup.com or refer to the links below for more info on this listing and other hospitality offerings, including restaurants, bars/taverns, entertainment venues, breweries, dispensaries and much more. Stay in the know and receive current updates, new offerings and relevant industry info and events by joining our email list and private Facebook Group page.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$57,729
|
$3.61
|
| Operating Expenses |
$16,853
|
$1.05
|
| Total Expenses |
$74,582
|
$4.66
|
Financial Summary (Actual - 2024)
| Taxes | |
|---|---|
| Annual | $57,729 |
| Annual Per SF | $3.61 |
| Operating Expenses | |
|---|---|
| Annual | $16,853 |
| Annual Per SF | $1.05 |
| Total Expenses | |
|---|---|
| Annual | $74,582 |
| Annual Per SF | $4.66 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
16,000 SF
Building Class
B
Year Built
2003
Tenancy
Single
Building Height
3 Stories
Building FAR
0.18
Lot Size
2.04 AC
Zoning
R2-PUD - (Special-use permit for restaurant.)
Parking
220 Spaces (13.75 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signage
- Tenant Controlled HVAC
Property Taxes
| Parcel Number | 15-18-206-016 | Total Assessment | $634,697 |
| Land Assessment | $331,221 | Annual Taxes | $57,729 ($3.61/SF) |
| Improvements Assessment | $303,476 | Tax Year | 2024 Payable 2025 |
Property Taxes
Parcel Number
15-18-206-016
Land Assessment
$331,221
Improvements Assessment
$303,476
Total Assessment
$634,697
Annual Taxes
$57,729 ($3.61/SF)
Tax Year
2024 Payable 2025
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Restaurant, Bar and Event Property | 4868 IL Route 83
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