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    Commercial Space Near Metra Station Title is generated by Realmo AI

    138 W Irving Park Road, Wood Dale, IL 60191

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    COMMERCIAL - Wood Dale, IL

    Type:Retail
    Property size:
    875 SF
    Lot size:
    0.23 Acres
    Added:
    Apr 15, 2026
    Days on Market:
    52
    Last Refresh:
    Jun 5 at 11:06 am

    Property Features for 138 W Irving Park Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Standard status
    Active
    Size
    875 SF
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    5495

    Utilities

    Utilities
    Cable Available
    Cooling system
    Central Air

    Building Details

    Year built
    1948
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Wood, Tile, Varies
    Building materials
    Brick, Block, Wood, Aluminum Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    Anthony Trotto
    Anthony Trotto

    Listing agent Anthony Trotto License #471000682

    Listing office Anthony J.Trotto Real Estate 138 W. Irving Park Rd., Wood Dale, IL

    Listing date Apr 15, 2026

    MLS# 12620199

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location in Town Center Business District, walking distance to Metra West Line and close to expressways.
    • Commercial office/retail space (875 sq. feet) with private office, secretary space, conference area, and bathroom.
    • Recent improvements including new roof, crawl space upgrades, tuckpointing, and new driveway/parking spaces.
    • Excellent exposure on Irving Park Road with high traffic count and existing poll sign.
    • Includes a residential unit in the rear and 2+ car attached garage.
    • Utility room with 50‑gallon water heater, utility sink, and attic access with blown‑in insulation.

    Overview

    Located in the Town Center Business District of Wood Dale, this property offers a commercial office/retail space with a residential unit in the rear and a 2+ car attached garage. The property is within walking distance of the Metra West Line (Chicago to Elgin) and close to expressways and restaurants. A new apartment complex is planned for completion nearby. The front office space, available for rent, is approximately 875 square feet and includes a private office, secretary space, conference area, and bathroom. The apartment is currently rented on a month-to-month basis. The building has alley access to the rear. The property has excellent exposure on the north side of Irving Park Road, benefiting from high traffic. An existing poll sign is included in the lease. The office/retail space includes a utility room with a 50-gallon water heater, pull-down stairs to an attic with blown-in insulation, and a utility sink. Recent improvements include a tear-off roof replacement to the shingle area and two coats of Gaco 100 percent silicone roof coating over the screened-in porch completed in September 2024, a crawl space with a new sump pump with battery backup, vapor barrier, and additional supports in March 2025, tuckpointing in March 2024, a new asphalt driveway and parking spaces in June 2025, and two new sidewalk entries to the office/retail space along with river rock hardscape in the front and sides of the building in June 2025. Permitted uses should be checked in the City of Wood Dale Code, Chapter 17, Article 4.5 Permitted Use Table.
    Property Profile Location Intelligence

    Current Use by Public Records

    Marino's Pizzeria & Cafe Restaurant Anthony J. Trotto ... Real Estate Agency Petra Sestakova Real Estate Agency

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wood Dale
    County
    DuPage
    State
    Illinois
    Longitude
    -87.9807808
    Latitude
    41.9632437

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    FAQs

    What type of property is this?
    Retail space - Commercial office/retail space with residential unit and attached garage.
    Where is this retail space located?
    The property is located at 138 W Irving Park Road Wood Dale, IL.
    What are key features of this property?
    This property features: Prime location in Town Center Business District, walking distance to Metra West Line and close to expressways.; Commercial office/retail space (875 sq. feet) with private office, secretary space, conference area, and bathroom.; Recent improvements including new roof, crawl space upgrades, tuckpointing, and new driveway/parking spaces.
    (630) 521-0298
    We can help!
    Listing Contact
    Anthony Trotto
    Anthony Trotto
    Real Estate License ID: 471000682
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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