Mixed-Use Building with Office
New
For Sale
$519,900
138 W Irving Park Road, Wood Dale, IL 60191
Commercial Sale, Wood Dale, IL
Property Size2,727 SF
Lot Size0.23 Acres
Price / SF$190.65
Days on Market2
Property Features for 138 W Irving Park Road
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From Wood Dale Road, Irving Park Rd west 1/2 block to 138. From Addison Rd, Irving Park Rd east .6 miles to 138. Building is on the south side of the street directly across the street from the red Firestone sign.
Subdivision
Wood Dale
Standard status
Active
APN
0316207004
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5763
Utilities
Utilities
Cable Available
Cooling system
Central Air
Amenities
screened porch
2-car garage
storage shed
Building Details
Year built
1948
Floors in Building
1
Number of units
2
Flooring type
Varies, Wood, Tile
Building materials
Brick, Block, Wood, Aluminum Siding
Roof type
Composition
Listing Agency:
Anthony J.Trotto Real Estate
(630) 521-0298
Listed By:
Petra Sestakova · License #471001341
(773) 742-2149
Added: Sep 2
Last Checked: Sep 3 at 11:06AM
MLS# 12749416
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 2,727-square-foot, single-story brick building combines an approximately 875-square-foot office or retail area with a rear apartment exceeding 1,700 square feet. The residence includes three bedrooms, one bath, a large combined living and dining room, equipped kitchen, screened porch, and access to a 528-square-foot two-car garage. The front commercial area has a utility room, 50-gallon water heater, attic storage with blown-in insulation, and utility sink. Separate water, electric, gas, furnace, and air-conditioning systems serve the apartment and commercial space, with a shared water heater. The apartment is occupied on a month-to-month tenancy, while the front space is vacant.
The property occupies a 0.23-acre lot measuring 50 by 203 feet at 138 W Irving Park Road in Wood Dale’s Town Center Business District. Access is available from Irving Park Road and the alley, with proximity to the Metra station, expressways, and nearby restaurants. Improvements include a 2024 roof replacement and tuckpointing, 2025 crawl-space work, and a 2025 asphalt driveway, parking areas, sidewalk entries, and front and side hardscape. Conversion to all-commercial use is stated as an option, subject to current permitted uses.
The property occupies a 0.23-acre lot measuring 50 by 203 feet at 138 W Irving Park Road in Wood Dale’s Town Center Business District. Access is available from Irving Park Road and the alley, with proximity to the Metra station, expressways, and nearby restaurants. Improvements include a 2024 roof replacement and tuckpointing, 2025 crawl-space work, and a 2025 asphalt driveway, parking areas, sidewalk entries, and front and side hardscape. Conversion to all-commercial use is stated as an option, subject to current permitted uses.
Key Highlights
- 2,727‑square‑foot brick mixed‑use building on a 0.23‑acre lot
- Approximately 875‑square‑foot vacant office or retail area
- Rear 1700+ square feet 3‑bedroom, 1‑bath apartment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,018
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$920,360
$920.4K
Cap Rate 7%
$657,400
$657.4K
Cap Rate 9%
$511,311
$511.3K
Market Conditions
NOI Build-Up for 2,727 SF
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.
Gross rent
$81.8K $30.00/SF
− Vacancy
−$8.2K −$3.00/SF
EGI
$73.6K $27.00/SF
− OpEx
−$27.6K −$10.13/SF
NOI
$46.0K $16.88/SF
Area
DuPage County, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$920,360
Cap Rate 7%
$657,400
Cap Rate 9%
$511,311
Alternative Uses
Best Use
Mixed Use
$657.4K
$575.2K – $767.0K
NOI $46,018 @ 7.0% cap · market cap 8.85%
Second Best
Retail
$540.7K
$473.1K – $630.9K
NOI $37,851 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$941.5K
$823.8K – $1.10M
NOI $65,906 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
Explore this area
Business Placement
Demographics for 60191, IL
14,456
Population
5,516
Households
2.6
Avg Household Size
44
Median Age
25%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
2,780
Density / Sq Mi
$90,299
Median Household Income
$44,817
Median Earnings
$1,649
Median Rent
$307,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick commercial property combines vacant business space with a separately metered apartment and garage.
Where is this mixed-use property located?
The property is located at 138 W Irving Park Road Wood Dale, IL.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: 2,727‑square‑foot brick mixed‑use building on a 0.23‑acre lot; Approximately 875‑square‑foot vacant office or retail area; Rear 1700+ square feet 3‑bedroom, 1‑bath apartment
