Second Generation Restaurant — Sale in Chicago, IL

  • Price: $249K
  • Listing type: For sale
  • Asset type: Business
  • Location: Chicago, IL 60602
  • Size: 259,000 SF
  • Year built: 1915

Description

For Sale | Second-Generation Restaurant in the Iconic Garland Building Former Home of Heaven on Seven Property Overview An extraordinary opportunity to acquire a fully built-out restaurant space in the historic Garland Building, located in the heart of Chicago’s Loop. This second-generation restaurant—formerly the iconic Heaven on Seven—offers a plug-and-play solution with existing infrastructure, an unbeatable location, and a built-in customer base. Units: 700 & 703 Total Size: ±3,025 SF Unit 700 & Back Office: ±2,536 SF Separate private office: ±528 SF Dual walk-in cooler: 13’ x 6’ Unit 703: ±489 SF Walk-in cooler: 7’ x 9’ (8’ tall) Private office Kitchen equipped with a 13’ Type-1 hood Use: Second-generation restaurant with existing buildout Building: The Garland Building – 22-story Chicago Landmark office condominium Location: Prime Loop corner, directly across from Macy’s, steps from Millennium Park, Michigan Avenue, and State Street retail Parking: Valet service available Transit: CTA “L” station located at building entrance (Red, Brown, Green, Orange, Pink, and Purple lines) Investment Highlights Proven Restaurant History: Former home of Heaven on Seven, operated successfully for four decades Plug-and-Play Buildout: Existing kitchen, dining room, dual walk-in coolers, and back-of-house infrastructure ready for immediate occupancy Flexible Layout: Includes private offices and dedicated storage/cooler areas, ideal for restaurant operations Unbeatable Location: High-profile Loop setting with direct access to office workers, tourists, shoppers, and theater-goers Historic Landmark Building: Blends architectural character with modern office/retail synergy The Space Purposefully designed to support high-volume foodservice and delivery operations, this space retains the charm and functionality that supported one of Chicago’s most recognized restaurants for four decades. Fully equipped with operational hood system and open kitchen layout Separate cold storage room wit

Market Context

This commercial property in Chicago, IL is listed for sale at $249,000 across 259,000 SF ($1/SF). The building dates to 1915. It has been on the market for 72 days. Compare it against other commercial property listings for sale in Chicago, IL — view the full market.

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