Corner Development Site in
7455 W Irving Park Road, Chicago, IL 60634
High-visibility corner lot with development potential in Belmont Heights/Dunning.
Type:Land
Property size:
4,055 SFLot size:
0.16 AcresPrice / SF:
$246/SF- Added:
- Feb 11, 2026
- Days on Market:
- 137
- Last Refresh:
- Mar 17 at 1:15 pm
Property Features for 7455 W Irving Park Road
General Information
- Standard status
- Active
- Size
- 4,055 SF
- Lot size
- 0.16 Acres
- Property subtype
- Land
Listing office Pearson Realty Group
Listing date Feb 11, 2026
Source Crexi
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 Pearson Realty Group
HighLights
- Prime 6,250 SF corner development site in a high‑visibility location on Irving Park Road.
- Zoned C1‑2, offering broad flexibility for retail, office, medical, or mixed‑use development.
- Includes a fully renovated (2024) 4,055 SF freestanding structure with a turnkey restaurant and apartment unit.
- Features a rare 15‑car dedicated side parking lot.
- Located in a dense, high‑income residential area ($92k+ median HHI) near Harlem‑Irving Plaza.
- Excellent proximity to the I‑90/294 O'Hare corridor and heavy commuter bus transit.
Overview
This 0.16-acre corner development site offers significant potential in Chicago's Belmont Heights/Dunning area. The property, measuring 50' x 125' (6,250 SF), is located on a high-visibility, signalized-adjacent corner. It features 50 feet of frontage on Irving Park Road, a major Northwest Side thoroughfare with traffic exceeding 18,000 vehicles per day. Zoned C1-2 (Neighborhood Commercial), the site allows for a range of uses, including retail, professional office, or medical facilities. There is potential for multi-story mixed-use development with residential units above ground-floor commercial space. The property includes a fully renovated (2024) 4,055 SF freestanding structure, currently configured as a turnkey restaurant with an apartment unit above. A dedicated 15-car side parking lot provides immediate utility or income potential. Located in Jefferson Township (Area 8017) within Chicago School District 299, the property is situated near the Harlem-Irving Plaza (HIP). The surrounding neighborhood features dense, high-income residential demographics with a median household income exceeding $92,000. The location offers convenient access to the I-90/294 O'Hare corridor and heavy commuter bus transit, making it suitable for national retailers or local developers seeking exposure on Chicago's Northwest Side.
Local Financial Insights For Mixed Use
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 | $107.1k | $26.40 |
| − Vacancy | −$8.0k | −$1.98 |
| EGI | $99.0k | $24.42 |
| − OpEx | −$37.1k | −$9.16 |
| NOI | $61.9k | $15.26 |
4,055 SF · lease $26.40/SF/yr · vacancy 7.50% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$884.1K
$773.6K – $1.03M
NOI $61,889 @ 7.0% cap · market cap 6.19%
Second Best
Retail
$804.1K
$703.6K – $938.1K
NOI $56,284 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$1.11M
$967.5K – $1.29M
NOI $77,400 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Bije's Pizza
Restaurant
Pro Shop Pizza ...
Restaurant
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.8143646
- Latitude
- 41.9523446
Nearby Similar for Sale
FAQs
What type of property is this?
Commercial land - High-visibility corner lot with development potential in Belmont Heights/Dunning.
Where is this commercial land located?
The property is located at 7455 W Irving Park Road Chicago, IL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Prime 6,250 SF corner development site in a high‑visibility location on Irving Park Road.; Zoned C1‑2, offering broad flexibility for retail, office, medical, or mixed‑use development.; Includes a fully renovated (2024) 4,055 SF freestanding structure with a turnkey restaurant and apartment unit.
