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Turnkey Full-Service Restaurant with all FF&E 7680 Grand Ave 7,800 SF Vacant Retail Building Online Auction Sale Gurnee, IL 60031
Matterport 3D Tour
INVESTMENT HIGHLIGHTS
- Turnkey full-service restaurant with a beautiful Tuscan-inspired design, a fully loaded kitchen, and furniture, fixtures, and equipment in place.
- Situated near top demand and traffic drivers, including Gurnee Mills mall, Six Flags Great America, and Great Wolf Lodge Illinois.
- Supported by a 3-mile population of over 43,000 with household incomes averaging over $140,000 and annual consumer spending of over $628M.
- Benefit from a highly visible location along a major commercial corridor that offers traffic counts exceeding 32K daily cars.
- Dense retail trade area within minutes of industry leaders such as Walmart Supercenter, Target, The Home Depot, Best Buy, and Menards.
EXECUTIVE SUMMARY
Create a dream restaurant with this incredible opportunity to acquire 7680 Grand Avenue. This property offers a built-out, full-service restaurant along the main commercial corridor of Gurnee, Illinois. The property includes a fully loaded kitchen and all furniture, fixtures, and equipment, allowing for turnkey occupancy by a new venture seeking to benefit from a high-traffic location.
This expansive 7,800-square-foot property was once home to Saluto’s and has been beautifully tailored to reflect Mediterranean charm. The expertly maintained building features Tuscan-inspired architecture, warm wood accents, walls finished with elegant Venetian plaster, and decorative wrought-iron details. Inside, the flexible floor plan includes spacious dining areas, well-equipped prep and service zones, dedicated office space, and a large bar that opens to the second floor. Outside, a back patio offers the opportunity for added outdoor seating. Guests are greeted by prominent pylon signage, ample parking for 74 cars, and a welcoming, well-lit vestibule with comfortable seating.
Situated directly off the Grand Avenue commercial corridor, 7680 Grand Avenue benefits tenants with great visibility to more than 32,000 daily cars and proximity to the area’s primary commercial hub. Just down the road is the Gurnee Mills mall, attracting more than 20 million annual visitors with 189 stores and restaurants, and the area surrounding the mall is home to industry-leading retail tenants, including Walmart Supercenter, Target, Home Depot, Best Buy, and Menards. Additional heavy traffic is generated from nearby attractions, including the Great Wolf Lodge Illinois and the Six Flags Great America theme park.
7680 Grand Avenue presents a valuable inroad in the Far North Retail Submarket, where vacancies sit below the 5- and 10-year averages, and rents have continued to climb. This valuable trade area offers strong support for local businesses, combining heavy regional visitor traffic with an impressive demographic profile when looking just 3 miles from the subject property. More than 43,000 residents live in the area and earn an average household income of more than $140,000. These strong earners delivered more than $628 million in consumer spending during 2024, presenting a dependable and affluent customer base that is always hungry for new retail opportunities.
Don’t miss this chance to seize a running start for a new restaurant venture with the turnkey facilities at 7680 Grand Avenue, combining a unique identity with a high traffic location in Gurnee’s core trade area.
Property tours are by appointment only. Please contact the listing broker to schedule.
This expansive 7,800-square-foot property was once home to Saluto’s and has been beautifully tailored to reflect Mediterranean charm. The expertly maintained building features Tuscan-inspired architecture, warm wood accents, walls finished with elegant Venetian plaster, and decorative wrought-iron details. Inside, the flexible floor plan includes spacious dining areas, well-equipped prep and service zones, dedicated office space, and a large bar that opens to the second floor. Outside, a back patio offers the opportunity for added outdoor seating. Guests are greeted by prominent pylon signage, ample parking for 74 cars, and a welcoming, well-lit vestibule with comfortable seating.
Situated directly off the Grand Avenue commercial corridor, 7680 Grand Avenue benefits tenants with great visibility to more than 32,000 daily cars and proximity to the area’s primary commercial hub. Just down the road is the Gurnee Mills mall, attracting more than 20 million annual visitors with 189 stores and restaurants, and the area surrounding the mall is home to industry-leading retail tenants, including Walmart Supercenter, Target, Home Depot, Best Buy, and Menards. Additional heavy traffic is generated from nearby attractions, including the Great Wolf Lodge Illinois and the Six Flags Great America theme park.
7680 Grand Avenue presents a valuable inroad in the Far North Retail Submarket, where vacancies sit below the 5- and 10-year averages, and rents have continued to climb. This valuable trade area offers strong support for local businesses, combining heavy regional visitor traffic with an impressive demographic profile when looking just 3 miles from the subject property. More than 43,000 residents live in the area and earn an average household income of more than $140,000. These strong earners delivered more than $628 million in consumer spending during 2024, presenting a dependable and affluent customer base that is always hungry for new retail opportunities.
Don’t miss this chance to seize a running start for a new restaurant venture with the turnkey facilities at 7680 Grand Avenue, combining a unique identity with a high traffic location in Gurnee’s core trade area.
Property tours are by appointment only. Please contact the listing broker to schedule.
MATTERPORT 3D TOUR
7680 Grand Avenue Matterport Tour
DATA ROOM Click Here to Access
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,800 SF
Building Class
B
Year Built
1990
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
0.94 AC
Parcel Number
07-07-407-017
Zoning
C-2 - Community Commercial District
Parking
74 Spaces (9.49 Spaces per 1,000 SF Leased)
Frontage
228’ on Grand Avenue
ABOUT FAR NORTH
Located along the Illinois-Wisconsin border and bordering Lake Michigan to the east, the Far North Chicago retail market taps into both the Wisconsin and Chicagoland workforce. Entertainment venues surrounding and contained within the 2 million-square-foot indoor shopping mall, Gurnee Mills, are plentiful. Additional attractions include the Six Flags amusement park just east of the mall and the water parks at Great Wolf Lodge, Hurricane Harbor, and Skull Island.
Large area employers include pharmaceutical manufacturer Abbvie, healthcare provider Vista Health System, and medical school Rosalind Franklin University. And the largest employer by far is the Naval Station Great Lakes, spanning over 1,600 acres and containing almost 1,200 buildings overlooking Lake Michigan.
Companies located throughout the Far North benefit from the area’s variety of transportation options, including Metra rail service to downtown Chicago and north to Kenosha, Wisconsin, as well as highway access to Interstate 94.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
8,176
43,528
116,041
2020 Population
8,616
45,131
120,155
2029 Population
7,969
42,677
113,829
2024-2029 Projected Population Growth
-2.5%
-2.0%
-1.9%
Daytime Employees
1,522
21,401
48,931
Total Businesses
290
1,991
5,359
Average Household Income
$150,908
$140,800
$127,637
Median Household Income
$125,317
$114,337
$104,643
Total Consumer Spending
$116.1M
$628.1M
$1.6B
Median Age
40.2
41.5
40.1
2024 Households
2,834
15,829
42,295
Percent College Degree or Above
35%
30%
26%
Average Home Value
$335,618
$307,374
$283,586
NEARBY MAJOR RETAILERS
Fifth Third Bank
SALE ADVISORS
SALE ADVISORS
Elliott Khayat, Broker
Elliot Khayat is a broker with Real Broker LLC - Naperville. Elliot takes great pride in his work, and is honored to have the privilege to help families, buyers, and sellers with their residential and commercial transactions.
Robb Satten, Senior Broker
Robb recently joined REAL Commercial (REAL Broker LLC) from KW Commercial as an Illinois licensed broker with a special emphasis on industrial and Commercial uses having over 31 years of commercial brokerage experience including an extensive background in owner / landlord representation. Robb joined up with Dan Winkowski as a partner. Working for well known Real Estate companies like RE/MAX Commercial, KW Commercial. Robb is well versed in lease and sales contract negotiations, market analysis and feasibility studies, site analysis, and entitlements. Robb has an additional specialization in Land & Development.
Robb specialties is negotiating contracts & Leasing contracts in favor of his
clients. Robb also spent time rehabbing over 100 properties in Lake and Cook County.
Robb has received the highest awards at RE/MAX & KW Commercial over his career. Not only for yearly high commissions but also lifetime million dollar awards.
With a proven track record of raising occupancy up to 100% on over a million square feet of commercial real estate portfolios throughout the Chicago (Lake & Northern Cook County) markets over last 18 years and conducting many sales transactions, his expertise and knowledge can help drive value to any commercial properties that you may own or manage. Please contact Robb for any of your commercial real estate needs on assistance with sales and leasing.
Robb also works with Clients & Investors in 1031 & DST 1031 exchanges.
Robb specialties is negotiating contracts & Leasing contracts in favor of his
clients. Robb also spent time rehabbing over 100 properties in Lake and Cook County.
Robb has received the highest awards at RE/MAX & KW Commercial over his career. Not only for yearly high commissions but also lifetime million dollar awards.
With a proven track record of raising occupancy up to 100% on over a million square feet of commercial real estate portfolios throughout the Chicago (Lake & Northern Cook County) markets over last 18 years and conducting many sales transactions, his expertise and knowledge can help drive value to any commercial properties that you may own or manage. Please contact Robb for any of your commercial real estate needs on assistance with sales and leasing.
Robb also works with Clients & Investors in 1031 & DST 1031 exchanges.
ABOUT THE AUCTION TECHNOLOGY
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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AUCTION CONTACT
Pace Zambito
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 478027045
CONTACTS
-
Elliott Khayat -
Daniel Winkowski -
Robb Satten -
Real Commercial Broker LLC - Naperville
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MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Turnkey Full-Service Restaurant with all FF&E | 7680 Grand Ave
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Turnkey Full-Service Restaurant with all FF&E | 7680 Grand Ave
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