Listings

Summary:

Exceptional opportunity to lease the entire 3,799 sqft ground floor of this historic bakery property at 5742-5744 N Milwaukee Ave on Chicago's far northwest side.

Formerly associated with the longtime Gladstone Park Bakery and currently home to New Paradise Bakery, this established food-service location combines an attractive customer-facing bakery/café with a large, fully equipped commercial production kitchen - ready for the next operator.

The 2-story masonry building dates to 1920, while the ground-floor bakery underwent a major renovation in 2022, including updated plumbing and electrical systems and extensive food-production improvements.

Rather than taking over an empty shell and spending substantial time and capital designing, permitting and equipping a commercial kitchen, a new tenant can step into an established food-production facility with the infrastructure already in place.

AN EXTRAORDINARY EQUIPMENT PACKAGE

The landlord-owned furniture, fixtures and equipment remain with the premises for the lease term and renewals, providing an enormous head start for the next operator.

The extensive equipment package includes a Middleby Marshall 6x-shelf oven, Hobart rolling rack oven with racks, multiple Hobart commercial mixers, twin-arm dough mixer, spiral mixer, Baxter proofers, 2-pass dough sheeter, Baker's Pride mini pizza oven, 12' exhaust hood, fryers, range with flat-top grill, Hobart slicer, gelato machine, milk pasteurizer, cookie dough stamper, shrink-wrap machine, dough racks and numerous commercial prep tables.

Cold-storage capacity is equally impressive with an 18'x10' walk-in cooler and 20'x20' walk-in freezer, plus additional refrigeration and freezers.

The retail area is also nicely outfitted with refrigerated pastry display cases, gelato display case, sandwich station, POS system, tables and seating, allowing an operator to combine high-volume production with a customer-facing retail component.

A BAKERY LOCATION WITH HISTORY

This address has a long association with baking on Chicago's northwest side. The former Gladstone Park Bakery became a neighborhood institution known especially for decorated cakes. New Paradise subsequently transformed the property into a Sicilian-inspired bakery, café and gelateria and opened here in 2022 following extensive renovations with nearly all new bakery equipment.

That history gives the next tenant something virtually impossible to recreate in a new location - a property that area residents already recognize as a destination for baked goods and specialty foods.

This truly is a unique opportunity to lease a large, fully built-out and extensively equipped bakery/commercial kitchen on one of Chicago's established northwest side commercial corridors.

Bring your concept, recipes and staff - the expensive infrastructure is already here!

Feel free to stop by the location as a customer first. This is a HIGHLY confidential listing, DO NOT talk to any owners, employees or patrons. If interested, please complete the short Contact Form on the right or email Brian O'Kelly at Brian@eatz-associates.com or call 847-579-9641 for more information. Showings by appointment only outside of business hours.

Competition:

A rare chance to lease a fully equipped, production-scale bakery/commercial kitchen with established retail frontage and deep equipment package, avoiding the tremendous cost and time involved in building one from scratch.

Growth and Expansion:

MULTIPLE POSSIBLE USES

The combination of substantial production capacity and retail frontage makes this property ideally suited for an established bakery expanding to another location, wholesale bakery, commissary/central production kitchen, catering company, specialty food manufacturer, ghost kitchen or multi-brand delivery operation. As well as a café, pizzeria, deli or prepared-food concept.

Existing refrigeration, ovens, mixers, proofing equipment, display cases and production infrastructure provide tremendous flexibility!

Location:

PRIME MILWAUKEE AVENUE LOCATION

Located along the well-established Milwaukee Ave commercial corridor serving Gladstone Park, Norwood Park, Jefferson Park and surrounding northwest side neighborhoods, the property benefits from a dense residential customer base, strong household incomes and excellent accessibility.

~23,400 residents and 9,190 households live within 1 mile, with median household income around $102,000. Within 3 miles are ~220,000 residents and 83,285 households, with median household income around $100,000. The area also includes ~7,914 daytime employees within 1 mile and 93,000 within 3 miles, creating additional weekday, catering and wholesale demand.

Milwaukee Ave itself carries ~10,535 vehicles per day at the property and 14,888 VPD near Milwaukee and Medina. Plus, the Gladstone Park Metra station is ~0.4 mile away.

County: Cook

Facilities:

Lease Information: Space for lease $6,500/mth modified gross (~$20.53/sqft = $78,000/year). Landlord will provide a new 5-year lease with two 5-year options.

The modified-gross structure is particularly attractive - the $6,500 monthly rent includes base rent, real estate taxes, CAM and landlord insurance, providing a predictable occupancy cost rather than a base rent plus substantial NNN expenses.

Property Information: In a 7,598 sqft two-story mixed-use masonry building constructed 1920. The entire first floor has been a bakery for generations - it was the longtime home of Gladstone Park Bakery, which closed roughly a decade before the space was renovated/reopened as New Paradise Bakery in Mar 2022. The second floor is residential apartments. Street parking is available along Milwaukee Ave and surrounding streets. Zoned B3-1 Community Shopping District.

Square Feet: 3,799 + Full Basement (Prep Area & Additional Storage).

Seating: Ample.

Real Estate: Owned (Landlord Leasing It Out Fully Equipped)

Value of FF&E: Not Included In Asking Price (Remain The Property Of The Landlord).

Value of Inventory: (Space For Lease).

Number of Employees: (Space For Lease)

Support/Training: (Space For Lease)

Seller Financing Available: No.

Reason for Selling: Landlord looking for a new tenant.