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    Commercial Space with Equipped Kitchen Title is generated by Realmo AI

    2954 W Irving Park Rd, Chicago, IL 60618

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    For Sale
    $199,900

    1040 SqFt commercial space with a fully-equipped kitchen and pizza oven.

    Property size:
    1,040 SF
    Price / SF:
    $192/SF
    Added:
    Jan 26, 2026
    Days on Market:
    137
    Last Refresh:
    Apr 5 at 8:14 pm

    Property Features for 2954 W Irving Park Rd

    General Information

    Standard status
    Active
    Size
    1,040 SF

    We can help!

    Listing Contact
    Oleg Baliuk

    Listing agent Oleg Baliuk

    Listing office KOMAR

    Listing date Jan 26, 2026

    Source Exprealty

    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 KOMAR

    HighLights

    • Prime location on Irving Park Rd, a main street in Chicago
    • Large, fully‑equipped kitchen with a PIZZA OVEN
    • Suitable for a wide range of businesses (cafes, bakeries, restaurants)
    • Newer construction building
    • High ceilings and great condition
    • Breathtaking landscape windows

    Overview

    This commercial space, totaling 1040 square feet, is located on Irving Park Road in Chicago. The property features a large, fully-equipped kitchen that includes a pizza oven. Constructed relatively recently, the building incorporates high ceilings and landscape windows. The space is suitable for various businesses, including cafes, bakeries, and restaurants.

    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 $25.0k $24.00
    − Vacancy −$1.7k −$1.68
    EGI $23.2k $22.32
    − OpEx −$5.8k −$5.58
    NOI $17.4k $16.74
    1,040 SF · lease $24.00/SF/yr · vacancy 7.00% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $248.7K
    $217.6K – $290.2K (±1% cap)
    NOI $17,410 @ 7.0% cap · market cap 8.71%
    Second Best
    Retail
    $209.0K
    $182.9K – $243.8K (±1% cap)
    NOI $14,628 @ 7.0% cap · market cap 7.32%
    Theoretical Best
    Office A
    $454.4K
    $397.6K – $530.1K (±1% cap)
    NOI $31,808 @ 7.0% cap · market cap 15.91%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial kitchens

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Curry Lush — 3517 N Spaulding Ave, Chicago, IL 60618
    • Taquiza Restauranteur 01 — 3517 N Spaulding Ave, Chicago, IL 60618
    • Truffleberry - Avondale - Fall 2021 — 2738 W Roscoe St, Chicago, IL 60618
    • Truffleberry Market — 2744 W Roscoe St, Chicago, IL 60618
    • Paramount Events - Avondale - Winter 2022 — 2738 W Roscoe St, Chicago, IL 60618

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7024
    Latitude
    41.954

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    FAQs

    What type of property is this?
    Restaurant - 1040 SqFt commercial space with a fully-equipped kitchen and pizza oven.
    Where is this restaurant located?
    The property is located at 2954 W Irving Park Rd Chicago, IL.
    What is the asking price?
    The asking price for this property is $199,900.
    What are key features of this property?
    This property features: Prime location on Irving Park Rd, a main street in Chicago; Large, fully‑equipped kitchen with a PIZZA OVEN; Suitable for a wide range of businesses (cafes, bakeries, restaurants)
    (847) 737-5037
    We can help!
    Listing Contact
    Oleg Baliuk
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    2954 W Irving Park Rd, CHICAGO, IL, 60618-3570
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