2nd Generation Restaurant For Lease

306 S Halsted St Chicago, IL 60661

306 S Halsted St, Chicago, IL, 60661
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FOR LEASE
Property Type:
Restaurant
Amount:
Please Call Broker for Price

Last Verified:
Nov 26, 2024

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Highlights

  • Prime location in Chicago's bustling West Loop
  • Spacious and flexible interior layout
  • High ceilings
  • Significant restaurant infrastructure
  • Proximity to public transportation and major roadways
  • Ideal for a variety of retail, dining, or service uses

Description

This 2nd generation restaurant is fully improved and includes mechanical, electrical, and plumbing systems, three black iron exhaust systems, and an array of kitchen equipment, retail displays, handicap washrooms, and indoor seating. The basement includes extensive food preparation areas, ventilation hoods, walk-in coolers, a manager’s office, and dry storage areas.
The space can also be adapted to a variety of other retail uses and can be subdivided into two, 2,100 sf retail storefronts.
The property is zoned DX5 allowing for a wide range of uses.

306-308 S Halsted is located in the heart of Chicago’s vibrant West Loop/Fulton Market corridor, within walking distance of the University of Illinois at Chicago campus. Over the past decade, this area has experienced some of the country's highest population and income growth. Within a ½ mile radius, the population has grown to over 19,000 residents, with an average household income exceeding $182,000 annually. Between 2015 and 2025, over 10,000 new luxury apartment units are projected to be added, reflecting the area's rapid transformation into a hub for upscale living and commercial activity. Since 2014, approximately 8 million square feet of new office space have been developed, significantly increasing the daytime population.

The site enjoys easy access to multiple transportation options, including the I-90 expressway, CTA Blue Line, Metra stations, and several CTA bus routes.


Year Built: 1926
Building Size: 20400sq ft
Lot Size: 0.11 acres


Documents

306 S Halsted Lease Brochure

Units for Lease

306 S Halsted
Space Available: 4200 SF
Lease Type: Modified Gross

Price Per Sqft/Year: $26.00

Map of 306 S Halsted St, Chicago, IL, 60661

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:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.