LOGAN SQUARE — A longtime Logan Square staple known for steak and Cuban sandwiches has closed and is for sale.
Cafeteria Marianao, a hole-in-the-wall-type spot on Milwaukee Avenue, had been a go-to location for a quick breakfast or lunch for more than 20 years.
The restaurant and the double lot it sits on at 2246 N. Milwaukee Ave. went on the market Wednesday for $1.39 million and has already received interest, according to the broker.
The restaurant and property is in a trust, according to the broker, who declined to give the name of the owners.
"You mention that name to any Hispanic person and they all know," said Carlos Alers, the broker on the deal. "Their kids, their grandkids, their dads, everyone has eaten there."
The restaurant is looking to move to another location, likely outside Logan Square, Alers said.
"That property is an icon," he said. "It's been a family-owned business for years."
Multiple people have already made offers on the property, Alers said.
The property is being pitched as a redevelopment project that would involve knocking down the small restaurant and building a multilevel mixed-use project on the site and adjacent parking lot.
The restaurant is also in a prime location near the Blue Line and redevelopment projects that are already underway nearby including the MiCa apartment towers, formerly known as the Twin Towers.
"I think that's why were are getting so much interest for it," Alers said. "They saw that was happening across the street and they will try to replicate that. It's a phenomenal location, too."
Alers said the property would allow for a three- or four-story building with first-floor commercial and residential units above.
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