1072 N Milwaukee Avenue
Chicago, IL, 60642 $ 1,600,000
Bedrooms-- Baths-- Sq 6,400 Monthly Estimate*
$ 11,051
for $1,600,000. This 6,400 square foot building was built on a lot size of 0.119995.
**Exceptional Restaurant & Bar Opportunity with Expansive Beer Garden and Live Entertainment Licensing!** Outstanding opportunity to establish or expand a restaurant, bar, or entertainment concept in this versatile, approximately 6,400-square-foot commercial property, offering a **total occupancy of 238 patrons** across multiple indoor and outdoor spaces. A standout feature is the expansive **1,600-square-foot outdoor beer garden with capacity for 103 guests**, ideal for outdoor dining, seasonal events, and social gatherings. The main-level bar offers approximately 1,600 square feet with occupancy for 85 guests, while an additional 1,600-square-foot upper level accommodates 50 guests, providing excellent flexibility for private events, additional dining, or entertainment. The property features an approximately 500-square-foot commercial kitchen equipped with a substantial **20-foot exhaust hood**, well suited for a high-volume food and beverage operation. A 1,600-square-foot basement provides cooler and storage space, along with two restrooms. **A significant added benefit is the property's Public Place of Amusement (PPA) license, allowing for live music and entertainment**, subject to applicable license conditions. This creates exciting opportunities for live performances, DJs, special events, and an enhanced nightlife experience. With its generous occupancy, expansive outdoor beer garden, commercial kitchen infrastructure, and live entertainment licensing, this property offers tremendous potential for restaurant operators, hospitality groups, and entertainment concepts seeking a dynamic, multifaceted venue. **A unique opportunity to create a premier dining, nightlife, and entertainment destination!**
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FeaturesGeneralCooling Central Air
Possession Closing
Stories Count 2
Tax Year 2025
Business Type Food & Beverage
Additional Parcels Description 17053080810000
County Cook
Operating Expense 0
Property Type Business Opportunity Bus / Bus w/Real Est
Status New
Directions From Downtown take Milwaukee ave to 1072
City Chicago
MLS Area CHI - West Town
Lot Size Square Feet 5227
Tax Annual Amount 24134
Additional Parcels Y/N Y
Standard Status Active
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ExteriorBuilding Area Total 6400
Lot Dimensions 50x99
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* Excluded FeaturesList ByMeridian Real Estate Chicago LlcBroker
james@meridianchicago.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $11,051
- Monthly Property Taxes
- $2,011
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCommerical listings in Chicago, IL
Average List Price $975,094
Percent of Sale Price 39%
About Chicago, IL 2,755,380 Population
-4% Since 2002
$ 53,088 Median Income
36.07 Median Age
25% Households with Children
Trends Information provided by ATTOM Data Solutions.
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 10/13/2026 | $1,600,000 | | Listed Price |