Freestanding Corner Restaurant
7455 W Irving Park Road Chicago, IL 60634
7455 W Irving Park Road, Chicago, IL, 60634
$949,000
For Sale
$949,000
COMMERCIAL - Chicago, IL
Property Size4,055 SF
Lot Size0.14 Acres
Price / SF$234.03
Days on Market100
Property Features for 7455 W Irving Park Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- COMMR
- Standard status
- Active
- APN
- 12242020020000
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 16801
Utilities
- Cooling system
- Exhaust Fan (Cooling), Central Air
Building Details
- Year built
- 1924
- Floors in Building
- 2
- Number of units
- 1
Listing agency
Pearson Realty Group
(773) 325-2800
Listed by
Thoma Socrates Panos · License #475211627
(773) 325-2800
Added: Apr 14 Updated: Jul 13 at 4:42PM Checked: Jul 22 at 3:06PM
MLS# 12619190
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 fully renovated freestanding corner restaurant venue includes a dining and bar space that seats 95, along with a brand-new, fully equipped commercial kitchen. The kitchen features pizza ovens, an extended-range stove, prep areas, and a walk-in cooler. The property was gut-rehabbed in late 2024 and is presented as an operating shell with existing business-related assets included in the sale, along with PPA licensing as described in the remarks.
The site is located in Chicago near Irving Park Road and Harlem Avenue, positioned close to the Harlem-Irving Plaza (HIP). The property offers street-facing exposure with frontage on Irving Park Road and includes a dedicated parking lot with approximately 15 spaces, plus ample street parking.
In addition to the restaurant space, the property includes a residential unit described as a 3-bedroom home and is situated on a lot of approximately 0.1435 acres. The offering is also described as including uncommitted VGT potential and liquor and food licensing for the venue, as detailed in the provided remarks.
The site is located in Chicago near Irving Park Road and Harlem Avenue, positioned close to the Harlem-Irving Plaza (HIP). The property offers street-facing exposure with frontage on Irving Park Road and includes a dedicated parking lot with approximately 15 spaces, plus ample street parking.
In addition to the restaurant space, the property includes a residential unit described as a 3-bedroom home and is situated on a lot of approximately 0.1435 acres. The offering is also described as including uncommitted VGT potential and liquor and food licensing for the venue, as detailed in the provided remarks.
Key Highlights
- Rare opportunity to acquire a fully renovated, turnkey PPA‑licensed venue with uncommitted VGT potential, including Real Estate, Business, and Assets.
- Includes a Public Place of Amusement (PPA), Liquor, and Food license, enabling diverse revenue streams beyond traditional food and beverage.
- VGT‑ready game room is uncommitted, allowing the new owner to negotiate their own terminal operator agreement and incentives.
Local Financial Insights For Specialty Retail
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 | $102.2k | $25.20 |
| − Vacancy | −$6.6k | −$1.64 |
| EGI | $95.5k | $23.56 |
| − OpEx | −$23.9k | −$5.89 |
| NOI | $71.7k | $17.67 |
4,055 SF · lease $25.20/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.02M
$895.7K – $1.19M
NOI $71,658 @ 7.0% cap · market cap 7.55%
Second Best
Industrial
$249.4K
$218.2K – $290.9K
NOI $17,455 @ 7.0% cap · market cap 1.84%
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
Location Intelligence
Current Use by Public Records
Bije's Pizza
Restaurant
Pro Shop Pizza ...
Restaurant
Similar For Sale Nearby
Similar Off Market Nearby
- Super China Buffet — 4125 Harlem Ave, Norridge, IL 60706
FAQs
What type of property is this?
Conventional restaurant - Turnkey corner restaurant venue with a newly renovated dining/bar area, fully equipped kitchen, and on-site parking.
Where is this conventional restaurant 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: Rare opportunity to acquire a fully renovated, turnkey PPA‑licensed venue with uncommitted VGT potential, including Real Estate, Business, and Assets.; Includes a Public Place of Amusement (PPA), Liquor, and Food license, enabling diverse revenue streams beyond traditional food and beverage.; VGT‑ready game room is uncommitted, allowing the new owner to negotiate their own terminal operator agreement and incentives.
