660 North Wells — Sale in Chicago, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Chicago, IL 60610

Description

13,125 SF Retail Restaurant with DX-7 Zoning CBRE, as an exclusive agent, is pleased to present the opportunity to acquire 100% fee simple interest in 660 North Wells Street (“the Property”), 13,125 SF of retail space that is home to one of the most iconic restaurant brands in the U.S. Thanks to its longtime tenant, the Property has served as a beacon of stability in the everchanging River North neighborhood. This is the first time in over 40 years the Property is available for sale. The Property is complete with a full bar, commercial kitchen, and offices on the upper floors for management and operations. This site also offers investors or developers a unique opportunity to acquire an income producing property in one of Chicago’s most well-known neighborhoods. In addition, the Property has ±5,300 SF of total land size available with DX-7 zoning should one wish to redevelop, as River North has seen ample residential units deliver recently with many more on the way. With the current lease expiration in 2028, ownership will have sufficient time to go through any necessary zoning/entitlement processes while collecting an income on the property, alleviating costs associated with ownership, making this a site a fantastic covered land play.

Market Context

This retail in Chicago, IL is listed for sale. It has been on the market for 196 days. Compare it against other retail listings for sale in Chicago, IL — view the full market.

As of Q1 2026, the Chicago retail market showed average asking rents near $22.27/SF/yr, and cap rates around 8.2%. Source: multiple brokerage reports, Q1 2026.

Retail market FAQ

What is the typical cap rate for retail in Chicago?
About 8.2% as of Q1 2026, per multiple brokerage reports.

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