Net Leased Restaurant & Development Land

1055 N Lake St + Adjacent Lot Aurora, IL 60506

1055 N Lake St + Adjacent Lot, Aurora, IL, 60506
1055 N Lake St + Adjacent Lot, Aurora, IL, 60506
Property Type:
Last Verified:
Apr 08, 2021


  • Single Tenant Net Leased Iconic Restaurant
  • 4.91 Acre Development Parcel Included (6.63 Acres Total)
  • Tenant In Place for over 20 years. 3 years lease term remaining.
  • Strong Visibility on IL Route 31
  • Excellent Area Retail Co-Tenancy
  • Dense Population in Illinois' 2nd Largest City
  • Generous Parking for more than 120 Cars


The subject property is a freestanding 4,656 SF restaurant building on 1.72 acres leased to Nikarry's Restaurant plus 4.91 acres of development land. Nikarry's is a staple of the community which has occupied the present location for over 20 years.

The 4.91 Acre wooded development lot with river views is currently zoned M1, which allows for a variety of uses including self storage, veterinary services, animal hospitals and kennels. Potential for multi-family or senior housing with rezoning.

The property is located on Lake St (Route 31) just south of Indian Trail Rd in a vibrant commercial district adjacent to the Fox River in Aurora, Illinois' second largest city. The property is adjacent to McDonalds, and close to Northgate Shopping Center, Cermak Produce, Carson Pirie Scott, TJ Maxx, Ross, Long John Silvers, Taco Bell, White Castle, Walgreens and many other regional and national retailers.

Year Built: 1963
Building Size: 4656sq ft
Lot Size: 6.63 acres

Map of 1055 N Lake St + Adjacent Lot, Aurora, IL, 60506

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

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  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
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