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

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Investment Highlights

  • High-capacity restaurant, bar, and event space on a large 4-acre lot
  • Interior includes four distinct guest areas, including a dramatic mezzanine and private party room
  • Turnkey layout ideal for dining, events, and entertainment with gaming potential
  • Fully equipped kitchens with multiple hoods, hearth, and dishwashing areas
  • Ample on-site parking with dual curb cuts for easy access and traffic flow
  • Located at a high-traffic intersection in Long Grove, surrounded by upscale neighborhoods and attractions

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.

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
Restaurant
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
Parking
220 Spaces (13.75 Spaces per 1,000 SF Leased)
Frontage
475’ on Route 83

Amenities

  • Signage
  • Tenant Controlled HVAC

Property Taxes

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
  • Listing ID: 39305245

  • Date on Market: 2/3/2026

  • Last Updated:

  • Address: 4868 IL Route 83, Long Grove, IL 60047

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