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Theater with Residential Income Units

3014 W Irving Park Road, Chicago, IL 60618

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For Sale

$1,099,000

Mixed-use property featuring a theater and two renovated apartments.

Type:Commercial

Property size:

5,183 SF

Price / SF:

$212/SF

HighLights

Turn‑key 150‑seat theater with stage, seating, bar, and dressing rooms.
Two fully renovated 2BD/1BA apartments providing reliable income.
High‑visibility Irving Park Road location with 41,000+ vehicles per day.
Mixed‑use property ideal for an owner‑user.
Commercial lease in place through December.
Convenient access to CTA buses and Blue Line.

We can help!

Listing Contact

CRAIG WOLF

Learn more

For Sale

$1,099,000

Mixed-use property featuring a theater and two renovated apartments.

Type:Commercial

Property size:

5,183 SF

Price / SF:

$212/SF

Added:: Apr 21, 2026
Days on Market:: 53
Last Refresh:: Apr 22 at 8:19 pm

Property Features for 3014 W Irving Park Road

General Information

Standard status: Active
Size: 5,183 SF
Property subtype: Commercial

Building Details

Year Built: 1915

We can help!

Listing Contact

CRAIG WOLF

Listing agent CRAIG WOLF License #475163046

Listing office STRAUSS REALTY LTD

Listing date Apr 21, 2026

Source Corcoran

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 STRAUSS REALTY LTD

HighLights

Turn‑key 150‑seat theater with stage, seating, bar, and dressing rooms.
Two fully renovated 2BD/1BA apartments providing reliable income.
High‑visibility Irving Park Road location with 41,000+ vehicles per day.
Mixed‑use property ideal for an owner‑user.
Commercial lease in place through December.
Convenient access to CTA buses and Blue Line.

Overview

This mixed-use property in Irving Park features a 5,183 square foot, 150-seat theater with 25-foot ceilings, along with two fully renovated two-bedroom, one-bathroom apartments completed in 2016. The theater is a turn-key space with a stage, seating, bar, and dressing rooms. The residential units offer modern finishes and provide income. The property is ideal for an owner-user, with apartment revenue and a commercial lease in place through December. Located on Irving Park Road, the property benefits from high visibility with over 41,000 vehicles per day and convenient access to CTA buses and the Blue Line.

Local Financial Insights For Mixed Use

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$155.5k	$30.00
− Vacancy	−$15.5k	−$3.00
EGI	$139.9k	$27.00
− OpEx	−$52.5k	−$10.13
NOI	$87.5k	$16.88

5,183 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%

Alternative Uses

Best Use

Mixed Use

$1.25M

$1.09M – $1.46M (±1% cap)

NOI $87,463 @ 7.0% cap · market cap 7.96%

Second Best

Multifamily LT 5

$1.19M

$1.04M – $1.39M (±1% cap)

NOI $83,450 @ 7.0% cap · market cap 7.59%

Theoretical Best

Office A

$2.26M

$1.98M – $2.64M (±1% cap)

NOI $158,519 @ 7.0% cap · market cap 14.42%

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

Location Intelligence

Current Use by Public Records

Windy City Playhouse Theater & Performing Art Venue Invictus Theatre Company Theater & Performing Art Venue

Suggested Use

Location Insight

Map
Local Demand

City: Chicago
County: Cook
State: Illinois
Longitude: -87.7038453
Latitude: 41.9542514

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For sale
Mixed-use properties
IL
Chicago
60618
3014 W Irving Park Road

What type of property is this?

Mixed-use property - Mixed-use property featuring a theater and two renovated apartments.

Where is this mixed-use property located?

The property is located at 3014 W Irving Park Road Chicago, IL.

What is the asking price?

The asking price for this property is $1,099,000.

What are key features of this property?

This property features: Turn‑key 150‑seat theater with stage, seating, bar, and dressing rooms.; Two fully renovated 2BD/1BA apartments providing reliable income.; High‑visibility Irving Park Road location with 41,000+ vehicles per day.