Mixed-Use Property with Grocery
For Sale
$1,499,000
272 W Irving Park Road, Wood Dale, IL 60191
Commercial Sale, Wood Dale, IL
Property Size2,500 SF
Lot Size0.49 Acres
Price / SF$599.60
Days on Market93
Property Features for 272 W Irving Park Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
WOOD DALE NORTH TO IRVING PARK, WEST TO 272
Subdivision
Wood Dale
Standard status
Active
APN
0309407001
Lot size
0.49 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
18945
Utilities
Utilities
Natural Gas Available
Cooling system
Central Air
Building Details
Year built
1960
Floors in Building
2
Number of units
2
Building materials
Brick
Listing Agency:
Housecenter Realty,Inc.
(708) 233-9600
Listed By:
John Ligas · License #471011917
(708) 233-9600
Added: May 20
Changed: Aug 20
Last Checked: Aug 20 at 3:06PM
MLS# 12653720
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 mixed-use property combines a grocery store with a separate split-level residence on a 0.49-acre corner lot. The retail component measures approximately 2,500 square feet and includes equipment and newer freezers. The adjoining home offers 3 bedrooms, 2 baths, a finished basement with an extra bedroom, and a storage room.
Additional improvements include a 3-car garage and 23 parking spaces. The brick property was built in 1960 and features central air, a roof that is 7 years old, and natural gas availability. Zoning is designated COMMR. The property is located at 272 W Irving Park Road in Wood Dale, Illinois.
Additional improvements include a 3-car garage and 23 parking spaces. The brick property was built in 1960 and features central air, a roof that is 7 years old, and natural gas availability. Zoning is designated COMMR. The property is located at 272 W Irving Park Road in Wood Dale, Illinois.
Key Highlights
- Approximately 2,500 square feet of grocery store space
- Grocery store includes equipment and newer freezers
- Split‑level residence with 3 bedrooms, 2 baths, and a finished basement with extra bedroom
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
$42,188
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
2.81%
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%
$843,760
$843.8K
Cap Rate 7%
$602,686
$602.7K
Cap Rate 9%
$468,756
$468.8K
Market Conditions
NOI Build-Up for 2,500 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
$75.0K $30.00/SF
− Vacancy
−$7.5K −$3.00/SF
EGI
$67.5K $27.00/SF
− OpEx
−$25.3K −$10.13/SF
NOI
$42.2K $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%
$843,760
Cap Rate 7%
$602,686
Cap Rate 9%
$468,756
Alternative Uses
Best Use
Mixed Use
$602.7K
$527.4K – $703.1K
NOI $42,188 @ 7.0% cap · market cap 2.81%
Second Best
Specialty Retail
$597.9K
$523.1K – $697.5K
NOI $41,850 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$863.1K
$755.3K – $1.01M
NOI $60,420 @ 7.0% cap · market cap 4.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
645
Businesses Nearby
159k
Monthly Visits Nearby
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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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick commercial property combines an equipped grocery store with an adjacent split-level residence.
Where is this mixed-use property 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 feet of grocery store space; Grocery store includes equipment and newer freezers; Split‑level residence with 3 bedrooms, 2 baths, and a finished basement with extra bedroom
