Grocery Store With
For Sale
$1,499,000
272 W Irving Park Road, Wood Dale, IL 60191
Operating retail space is paired with a brick split-level home, finished basement, three-car garage, and on-site parking.
Property Size3,700 SF
Price / SF$405.14
Days on Market106
Property Features for 272 W Irving Park Road
General Information
Standard status
Active
Size
3,700 SF
Total Parking Spaces
23
Property subtype
COMMERCIAL
Additional Details
Business Included
Yes
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$18,945
Building Details
Building Size
3,700 SF
Buildings
2
Listing Agency:
Housecenter Realty,Inc.
Listed By:
John Ligas · License #471011917
(708) 341-1388
Source:
Dawnmckennagroup
Added: May 21
Changed: Sep 1
Last Checked: Sep 2 at 9:25PM
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 Housecenter Realty,Inc.
Investment Insights
Based on property information with market context.
This grocery and convenience store property combines an approximately 2,500-square-foot retail operation with a neighboring brick split-level residence. The store is equipped for grocery, deli, and liquor sales and includes newer freezers. The home provides 3 bedrooms, 2 baths, a finished basement with an extra bedroom, and a storage room. A 3-car garage serves the residential component, while the roof is 7 years old.
The property occupies a large corner lot along W Irving Park Road in Wood Dale, Illinois. On-site parking includes 23 spaces, supporting customer access to the retail operation. The offering brings together an established grocery-oriented commercial use and an adjacent residential improvement at the same property.
The property occupies a large corner lot along W Irving Park Road in Wood Dale, Illinois. On-site parking includes 23 spaces, supporting customer access to the retail operation. The offering brings together an established grocery-oriented commercial use and an adjacent residential improvement at the same property.
Key Highlights
- Approximately 2,500‑square‑foot grocery, deli, and liquor store
- Brick split‑level home with 3 bedrooms, 2 baths, and a finished basement
- Finished basement includes an extra bedroom and storage room
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
$61,938
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
4.13%
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%
$1,238,760
$1.2M
Cap Rate 7%
$884,829
$884.8K
Cap Rate 9%
$688,200
$688.2K
Market Conditions
NOI Build-Up for 3,700 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
$88.8K $24.00/SF
− Vacancy
−$6.2K −$1.68/SF
EGI
$82.6K $22.32/SF
− OpEx
−$20.6K −$5.58/SF
NOI
$61.9K $16.74/SF
Area
DuPage County, IL
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,238,760
Cap Rate 7%
$884,829
Cap Rate 9%
$688,200
Alternative Uses
Best Use
Specialty Retail
$884.8K
$774.2K – $1.03M
NOI $61,938 @ 7.0% cap · market cap 4.13%
Second Best
Retail
$733.7K
$642.0K – $856.0K
NOI $51,357 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,421 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
645
Businesses Nearby
159k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 46%
Groceries 23%
Shops & Services 18%
Dining 9%
Target
Superstores
59,248 visits/mo
0.3 miles
Jewel-Osco
Groceries
37,162 visits/mo
0.2 miles
Big Lots
Superstores
13,616 visits/mo
0.5 miles
Wendy's
Dining
11,708 visits/mo
0.5 miles
Exxon
Shops & Services
7,014 visits/mo
0.1 miles
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 Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Frank's Piggly Wiggly — 470 georgetown square, wood dale, il 60191
- Target Grocery — 401 Irving Park Rd, Wood Dale, IL 60191
- Jewel-Osco — 343 W Irving Park Rd, Wood Dale, IL 60191
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Operating retail space is paired with a brick split-level home, finished basement, three-car garage, and on-site parking.
Where is this grocery and convenience store located?
The property is located at 272 W Irving Park Road Wood Dale, IL.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Approximately 2,500‑square‑foot grocery, deli, and liquor store; Brick split‑level home with 3 bedrooms, 2 baths, and a finished basement; Finished basement includes an extra bedroom and storage room
