Corner Development Site in
7455 W Irving Park Road Chicago, IL 60634
7455 W Irving Park Road, Chicago, IL, 60634
$949,000
For Sale
$949,000
LAND - Chicago, IL
Property Size4,055 SF
Lot Size0.16 Acres
Price / SF$234.03
Days on Market101
Property Features for 7455 W Irving Park Road
General Information
- Property type
- Land
- Property subtype
- Other
- Zoning
- COMMR
- Standard status
- Active
- APN
- 12242020020000
- Size
- 4,055 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 16802
Utilities
- Utilities
- Cable Available
Listing agency
Pearson Realty Group
(773) 325-2800
Listed by
Thoma Socrates Panos · License #475211627
(773) 325-2800
Added: Apr 14 Updated: May 13 at 10:32PM Checked: Jul 23 at 1:06AM
MLS# 12619294
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.
Investment Insights
Based on property information with market context.
This 0.16-acre corner development site is located in Chicago's Belmont Heights/Dunning corridor. The property is situated on a high-visibility signalized-adjacent corner and offers 50 feet of frontage on Irving Park Road, a major Northwest Side artery with traffic counts exceeding 18,000 vehicles per day. Zoned C1-2 (Neighborhood Commercial), the property allows for retail, professional office, or medical use, with the potential for multi-story mixed-use development featuring residential units above ground-floor commercial. The site includes a fully renovated (2024) 4,055 square-foot freestanding structure with a turnkey restaurant, an apartment unit above, and a 15-car dedicated side parking lot. The property is located in Jefferson Township (Area 8017) within Chicago School District 299, blocks from the Harlem-Irving Plaza (HIP), and benefits from the dense, high-income residential demographics of the surrounding neighborhood. The median household income is $92,000+. The property has proximity to the I-90/294 O'Hare corridor and heavy commuter bus transit. The property has immediate utility or a high-income holding opportunity while final plans are secured. The lot size is 6,250 square feet (50' x 125').
Key Highlights
- Prime corner development site (6,250 SF) in a high‑traffic location on Irving Park Road (18,000+ VPD).
- Flexible C1‑2 zoning allows for retail, office, medical, or mixed‑use development with residential potential.
- Includes a fully renovated (2024) 4,055 SF structure with a turnkey restaurant and apartment, providing immediate income.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $107.1k | $26.40 |
| − Vacancy | −$8.0k | −$1.98 |
| EGI | $99.0k | $24.42 |
| − OpEx | −$37.1k | −$9.16 |
| NOI | $61.9k | $15.26 |
4,055 SF · lease $26.40/SF/yr · vacancy 7.50% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$884.1K
$773.6K – $1.03M
NOI $61,889 @ 7.0% cap · market cap 6.52%
Second Best
Retail
$804.1K
$703.6K – $938.1K
NOI $56,284 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$1.11M
$967.5K – $1.29M
NOI $77,400 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bije's Pizza
Restaurant
Pro Shop Pizza ...
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - High-visibility corner lot with development potential in Belmont Heights/Dunning.
Where is this mixed-use property located?
The property is located at 7455 W Irving Park Road Chicago, IL.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Prime corner development site (6,250 SF) in a high‑traffic location on Irving Park Road (18,000+ VPD).; Flexible C1‑2 zoning allows for retail, office, medical, or mixed‑use development with residential potential.; Includes a fully renovated (2024) 4,055 SF structure with a turnkey restaurant and apartment, providing immediate income.
