Retail N Illinois

Chicago Real Estate Resource, Inc. closes four separate restaurant leases

Chicago Real Estate Resource, Inc. closes four separate restaurant leases,ph1

Chicago Real Estate Resource, Inc. (CRER) recently finalized restaurant leases in the Back of the Yards, Lakeview, McKinley Park and Fulton Market neighborhoods in Chicago. Nate Gautsche with CRER’s downtown office represented parties in all four transactions.

At 1002 W. Lake Street, Gautsche had the exclusive listing for this second-generation restaurant space, formerly Polenta Bar, in what is often considered the hottest neighborhood in Chicago if not the U.S. Gautsche was able to quickly negotiate a lease assignment and asset sale to Hakka Bakka which will be opening their second location.

Gautsche also represented Taco Bell in the lease of 920 W. Belmont Avenue. Belmont Avenue is a late night hub in the Lakeview neighborhood near Wrigley Field on Chicago’s North Side, an area that benefits from one of the busiest CTA stations in the city. Gautsche secured a second-generation restaurant space between the high traffic CTA station and the new Target on the corner of Belmont and Clark.

Owned and operated by BBQ Patio for several decades, Gautsche approached the ownership of 3256 S. Ashland Avenue for his client, a Dunkin Donuts franchisee. After identifying the potential to repurpose the existing building in a high-barrier-to-entry market for Dunkin Donuts, Gautsche negotiated the off-market deal and assisted the client throughout the special-use variance process needed to approve the drive-through.

What was formerly a Hardee’s at 4614 S. Damen Avenue, this second-generation fast food restaurant offered a cost-effective opportunity for Gautsche’s client, a Taco Bell franchisee, to locate in a high-barrier-to-entry market. Gautsche negotiated the purchase in a highly competitive, multiple-offer situation, allowing the client to locate in a highly desirable market for the brand and at a lower cost than competitors had recently paid for land alone in the area.