UoC - 5311 S Lake Park — Sale in Chicago, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Chicago, IL 60615

Description

Rare Restaurant Opportunity near the Campus of The University of Chicago. • The space consists of 3,756 SF plus an approximate 800 SF dedicated covered patio with potential expansion options • The Promontory will continue to operate its 7k SF (500-person occupancy) music/event space on the 2nd floor directly above the restaurant The space will offer the full FF&E that is currently in place, including: - Double-sided kitchen with all equipment and hoods - Two walk-in coolers - Full wraparound bar and tappers -Two Ada-compliant restrooms

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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