Restaurant on Corner Lot For
1820 W Irving Park Road Schaumburg, IL 60193
1820 W Irving Park Road, Schaumburg, IL, 60193
$895,000
Pending
For Sale
$895,000
Pending
Restaurant on a corner lot with high traffic and visibility.
Property Size2,915 SF
Lot Size0.80 Acres
Days on Market203
Property Features for 1820 W Irving Park Road
General Information
- Standard status
- Pending
- Size
- 2,915 SF
- Lot size
- 0.80 Acres
- Property subtype
- Commercial
Listing agency
EXECUTIVE REALTY GROUP LLC
(630) 894-1030
Listed by
NASIR JAHANGIR · License #475148209
Source
Corcoran
Added: Dec 30, 2025 Updated: Jul 6 at 10:02AM Checked: Jul 21 at 5:16AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXECUTIVE REALTY GROUP LLC
Investment Insights
Based on property information with market context.
This is a commercial real estate investment opportunity to acquire a corner lot with B-2 zoning, currently operating as a free-standing restaurant. The building is approximately 2,915 square feet and is situated on a 35,081 square foot lot with 55 parking spaces. The restaurant has furnished dining seating for at least 50 people and is fully equipped. The lot is located at the intersection of Irving Park Road and Mercury Drive, controlled by a traffic light. The property is within one mile of I-390, the Schaumburg Metra station, Schaumburg Flyers Stadium, retail hubs, and new residential housing. The sale includes the building, business, signage, inventory, trade fixtures, and the land, presenting a turn-key opportunity.
Key Highlights
- Premium commercial zoned B‑2 corner lot with a free‑standing restaurant.
- Includes building, business, signage, inventory, trade fixtures, and land.
- High‑traffic location at the intersection of Irving Park Rd and Mercury Dr.
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 | $70.0k | $24.00 |
| − Vacancy | −$4.9k | −$1.68 |
| EGI | $65.1k | $22.32 |
| − OpEx | −$16.3k | −$5.58 |
| NOI | $48.8k | $16.74 |
2,915 SF · lease $24.00/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$697.1K
$610.0K – $813.3K
NOI $48,797 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$880.6K – $1.17M
NOI $70,449 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Palooza Pizza
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Restaurant on a corner lot with high traffic and visibility.
Where is this conventional restaurant located?
The property is located at 1820 W Irving Park Road Schaumburg, IL.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Premium commercial zoned B‑2 corner lot with a free‑standing restaurant.; Includes building, business, signage, inventory, trade fixtures, and land.; High‑traffic location at the intersection of Irving Park Rd and Mercury Dr.
