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  1. Commercial Properties
  2. IL
  3. Chicago

Second Generation Restaurant

For Sale

111 North Wabash Avenue, Chicago, IL 60602

For Sale | Second-Generation Restaurant in the Iconic Garland Building

Former Home of Heaven on Seven

Property Overview

An extraordinary opportunity to acquire a fully built-out restaurant space in the historic Garland Building, located in the heart of Chicago’s Loop. This second-generation restaurant—formerly the iconic Heaven on Seven—offers a plug-and-play solution with existing infrastructure, an unbeatable location, and a built-in customer base.

  • Units: 700 & 703
  • Total Size: ±3,025 SF
  • Unit 700 & Back Office: ±2,536 SF
  • Separate private office: ±528 SF
  • Dual walk-in cooler: 13’ x 6’
  • Unit 703: ±489 SF
  • Walk-in cooler: 7’ x 9’ (8’ tall)
  • Private office
  • Kitchen equipped with a 13’ Type-1 hood
  • Use: Second-generation restaurant with existing buildout
  • Building: The Garland Building – 22-story Chicago Landmark office condominium
  • Location: Prime Loop corner, directly across from Macy’s, steps from Millennium Park, Michigan Avenue, and State Street retail
  • Parking: Valet service available
  • Transit: CTA “L” station located at building entrance (Red, Brown, Green, Orange, Pink, and Purple lines)

Investment Highlights

  • Proven Restaurant History: Former home of Heaven on Seven, operated successfully for four decades
  • Plug-and-Play Buildout: Existing kitchen, dining room, dual walk-in coolers, and back-of-house infrastructure ready for immediate occupancy
  • Flexible Layout: Includes private offices and dedicated storage/cooler areas, ideal for restaurant operations
  • Unbeatable Location: High-profile Loop setting with direct access to office workers, tourists, shoppers, and theater-goers
  • Historic Landmark Building: Blends architectural character with modern office/retail synergy

 

The Space

Purposefully designed to support high-volume foodservice and delivery operations, this space retains the charm and functionality that supported one of Chicago’s most recognized restaurants for four decades.

  • Fully equipped with operational hood system and open kitchen layout
  • Separate cold storage room with walk-in coolers and freezer
  • Dedicated back-of-house prep and storage area
  • Adaptable dining room layout, ideal for fast casual or dine-in service
  • Light-filled interior and prominent positioning on the 7th floor of the building
  • Perfect for ghost kitchens, catering, concept testing, or traditional full-service dining
  • Immediate rebranding or continued use with minimal downtime

Delivery & Office Market Opportunity

Rather than competing with nearby listings, this restaurant stands out with unmatched access to a massive built-in daytime customer base. The Loop is the largest and densest office district in Chicago, making this a prime delivery-focused location

Building Details

  • For Sale $249,000
  • Property Type Retail - Restaurant
  • Property Size 259,000 SF
  • Additional Rent Price on request
  • # of Floors 22
  • Property Tenancy Single Tenant
  • Building Class A
  • Year Built 1915
  • Year Renovated 2007
  • Date Updated Oct 1, 2026
Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

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Contacts

broker
Manny Regalado

KW ONEChicago

Location

  • City Chicago, IL
  • Neighborhood Downtown Chicago
  • Zip Code 60602
  • Market Chicago
  • Map
  • Street
  • Walk score 100/100 Walker's Paradise
  • Transit score 100/100 Rider's Paradise
  • Bike score 80/100 Very Bikeable
Powered by Walk Score ®

Points of Interest

Millennium Station

0.09 miles

Lake

0.12 miles

State/Lake

0.19 miles

Adams/Wabash

0.27 miles

Harold Washington Library-State/Van Buren

0.48 miles

Quincy

0.52 miles

Merchandise Mart

0.55 miles

Grand

0.59 miles

Clinton

0.80 miles

Chicago

1.03 miles

Tesla Supercharger

0.34 miles

ChargePoint

0.60 miles

BP

0.76 miles

Blink

1.09 miles

Shell

1.10 miles

Volta

1.11 miles

Citgo

1.35 miles

Blink ParkChip Garage - 1035 Van Buren

1.48 miles

Electrify America

1.61 miles

eVgo

1.64 miles

Grant Park North Garage

0.13 miles

60 East Lake Self Park

0.17 miles

Prudential Plaza

0.20 miles

Hotel Parking

0.21 miles

Theater District Self Park

0.21 miles

One East Wacker

0.22 miles

55 East Monroe Self Park

0.23 miles

Millennium Garage

0.25 miles

Government Center Self Park

0.27 miles

33 West Monroe

0.27 miles

Macy's

0.06 miles

Burlington

0.09 miles

Ross

0.09 miles

TJ Maxx

0.10 miles

Millennium Station/Pedway

0.13 miles

Target

0.14 miles

Block 37 Shops

0.15 miles

Saks Off 5th

0.16 miles

Bockwinkel's

0.31 miles

Mariano's Fresh Market

0.38 miles

Listing Summary

  • Property Financials

    111 North Wabash Avenue is currently listed for sale at $249,000 for a price per square foot of $0.96.

  • Property Details

    111 North Wabash Avenue totals 259,000 square feet of Retail space across 22 floors. The property was initially built in 1915, being last renovated in 2007. Based on its location, amenities, and finishes, the property is listed as class A.

    Tenancy at 111 North Wabash Avenue is listed as Single Tenant.

  • Area Characteristics

    111 North Wabash Avenue is located in the Downtown Chicago neighborhood.

    There is 1 other retail property listed for sale in the neighborhood. In terms of ease of commuting, the area has a walk score of 100, indicating that it is perfect for walking.

Contact Manny Regalado
broker
Manny Regalado

KW ONEChicago

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