The Chicago office of Studley Inc. is teaming up with auction.com, an online real estate marketplace, in order to facilitate the sale of 1050 E. Oakton in Des Plaines. The former “Grazie!” restaurant and banquet facility consists of 27,277 square feet on 3.9 acres.
The property has been a fixture on the northwest suburban wedding and banquet scene since 1968, when it was originally known as “Seven Eagles” restaurant. The property has gone on the market on behalf of a commercial bank that is now the property’s owner. The site is zoned C-3 commercial in Des Plaines, which allows for a variety of business uses and is located next to a busy U.S. Post Office branch.
This acquisition also offers the potential for the property to be eventually combined with available surrounding properties that are currently for sale, which in turn may allow for an eventual shopping center or big box or other creative redevelopment.
In order to obtain additional information about the auction, contact Tony Smaniotto, senior managing director at Studley Capital Transactions Group, at (312) 595-2947.
