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Turnkey Restaurant Opportunity – River North 738-740 N Wells St 2,200 SF of Retail Space Available in Chicago, IL 60654
Sublease Highlights
- Highly visible Wells Street location surrounded by Chicago's premier restaurants, hotels, luxury residential developments
- Existing FF&E, licenses, and operational infrastructure allow a qualified operator to open quickly with minimal build-out. Key money required.
- Approximately 2,200 SF featuring a fully equipped commercial kitchen, full-service bar, outdoor patio, and seating for approximately 85 guests
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 2,200 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | TBD |
1st Floor
Turnkey Restaurant Opportunity | River North | Key Money Required Rare opportunity to lease a fully built-out, second-generation restaurant in the heart of Chicago's River North dining district. Located at 738 N. Wells Street, this 2,200 SF turnkey space features a beautifully designed dining room, full-service bar, modern commercial kitchen, outdoor patio seating, and basement storage. The restaurant accommodates approximately 85 guests with 49 dining seats, 12 bar seats, and a 24-seat outdoor patio. The sale includes the existing furniture, fixtures, equipment (FF&E), liquor license (subject to approval), recipes, training materials, and other operational assets, allowing a qualified operator to open quickly with minimal downtime or easily introduce a new concept. The property is surrounded by nationally recognized restaurants, boutique hotels, luxury residential developments, and office buildings, generating exceptional daytime and evening pedestrian traffic. Conveniently located just steps from CTA stations, multiple bus routes, and I-90/94.
- Sublease space available from current tenant
- Fully Built-Out as a Restaurant or Café Space
- Space is in Excellent Condition
- 2,400 SF turnkey restaurant in a Prime River North
- Full commercial kitchen with existing equipment
- 85-seat capacity (49 dining, 12 bar, 24 patio)
- Established infrastructure for immediate operation
- Key money required
- New long-term lease available for qualified tenant
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 Turnkey Restaurant Opportunity – River North
- Tenant
- Description
- US Locations
- Reach
- Carl Hammer Gallery
- Health & Beauty Aids
- 1
- -
- Rudolph Kaplan, LLC
- Legal
- 1
- Local
- Townstone Financial Inc
- Investment Service
- 1
- -
- Wells & Vision Optometry, Pllc
- Optical
- 1
- -
| Tenant | Description | US Locations | Reach |
| Carl Hammer Gallery | Health & Beauty Aids | 1 | - |
| Rudolph Kaplan, LLC | Legal | 1 | Local |
| Townstone Financial Inc | Investment Service | 1 | - |
| Wells & Vision Optometry, Pllc | Optical | 1 | - |
Property Facts
| Total Space Available | 2,200 SF | Gross Leasable Area | 9,852 SF |
| Property Type | Retail | Year Built | 1886 |
| Property Subtype | Storefront Retail/Residential | Cross Streets | W Superior St. |
| Total Space Available | 2,200 SF |
| Property Type | Retail |
| Property Subtype | Storefront Retail/Residential |
| Gross Leasable Area | 9,852 SF |
| Year Built | 1886 |
| Cross Streets | W Superior St. |
About the Property
Turnkey Restaurant Opportunity | River North | Key Money Required Rare opportunity to lease a fully built-out, second-generation restaurant in the heart of Chicago's River North dining district. Located at 738 N. Wells Street, this 2,200 SF turnkey space features a beautifully designed dining room, full-service bar, modern commercial kitchen, outdoor patio seating, and basement storage. The restaurant accommodates approximately 85 guests with 49 dining seats, 12 bar seats, and a 24-seat outdoor patio. The sale includes the existing furniture, fixtures, equipment (FF&E), liquor license (subject to approval), recipes, training materials, and other operational assets, allowing a qualified operator to open quickly with minimal downtime or easily introduce a new concept. The property is surrounded by nationally recognized restaurants, boutique hotels, luxury residential developments, and office buildings, generating exceptional daytime and evening pedestrian traffic. Conveniently located just steps from CTA stations, multiple bus routes, and I-90/94.
- Signage
Nearby Major Retailers
