Turnkey Corner Restaurant with
For Sale
$949,000
7455 W Irving Park Road, Chicago, IL 60634
Freestanding corner restaurant offers a renovated dining and bar space, fully equipped commercial kitchen, and PPA licensing.
Property Size4,055 SF
Lot Size0.16 Acres
Price / SF$234.03
Days on Market108
Property Features for 7455 W Irving Park Road
General Information
Standard status
Active
Size
4,055 SF
Total Parking Spaces
15
Lot size
0.16 Acres
Property subtype
Commercial
Site & Location
Traffic Count
26,000 vehicles/day
Road Access
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Liquor License
Yes
Multifamily Units
1
Building Details
Building Size
4,055 SF
Year Built
1924
Year Renovated
2024
Listing Agency:
Pearson Realty Group
(773) 325-2800
Listed By:
Thoma Socrates Panos · License #1015118
(773) 325-2800
Source:
Perillorealestategroup
Added: Apr 14
Changed: Jul 27
Last Checked: Jul 29 at 12:46PM
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
Investment Insights
Based on property information with market context.
This freestanding corner restaurant has been fully gut-rehabbed in late 2024 and is presented as a turnkey operating venue. The property includes a new dining and bar area that seats 95, along with a brand-new, fully equipped commercial kitchen featuring pizza ovens, an extended range, stove, prep areas, and a walk-in cooler. The offering also includes liquor and food licenses, plus a Public Place of Amusement (PPA) license.
Set on a 0.16-acre lot with prime frontage on Irving Park Road near Harlem Avenue, the site benefits from visibility supported by traffic cited at over 26,000 vehicles per day. The property includes a dedicated parking lot with approximately 15 spaces and additional street parking.
The site’s layout includes a main level of 3,125 SF and a separate 930 SF 3-bedroom residential unit for additional income. The listing also notes the VGT-ready game room is uncommitted to any gaming operator.
Set on a 0.16-acre lot with prime frontage on Irving Park Road near Harlem Avenue, the site benefits from visibility supported by traffic cited at over 26,000 vehicles per day. The property includes a dedicated parking lot with approximately 15 spaces and additional street parking.
The site’s layout includes a main level of 3,125 SF and a separate 930 SF 3-bedroom residential unit for additional income. The listing also notes the VGT-ready game room is uncommitted to any gaming operator.
Key Highlights
- 4,055 SF freestanding corner restaurant on a 0.16‑acre lot with PPA (Public Place of Amusement) plus liquor and food license
- Late 2024 full gut‑rehab: new dining & bar space seats 95 and includes a brand‑new fully equipped commercial kitchen
- Commercial kitchen includes pizza ovens, extended range, stove, prep areas, and a walk‑in cooler
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 | $102.2k | $25.20 |
| − Vacancy | −$6.6k | −$1.64 |
| EGI | $95.5k | $23.56 |
| − OpEx | −$23.9k | −$5.89 |
| NOI | $71.7k | $17.67 |
4,055 SF · lease $25.20/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.02M
$895.7K – $1.19M
NOI $71,658 @ 7.0% cap · market cap 7.55%
Second Best
Industrial
$249.4K
$218.2K – $290.9K
NOI $17,455 @ 7.0% cap · market cap 1.84%
Theoretical Best
Office A
$1.11M
$967.5K – $1.29M
NOI $77,400 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
26,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Paved road access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
900
Businesses Nearby
165k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Groceries 31%
Apparel 27%
Shops & Services 6%
Jewel-Osco
Groceries
50,945 visits/mo
0.1 miles
T.J. Maxx
Apparel
40,713 visits/mo
0.1 miles
McDonald's
Dining
29,175 visits/mo
0.5 miles
Burger King
Dining
15,386 visits/mo
0.1 miles
Dunkin' Donuts
Dining
9,094 visits/mo
0.1 miles
Demographics for 60634, IL
75,694
Population
29,344
Households
2.6
Avg Household Size
41
Median Age
27%
College-Educated
87%
High-School Grad
7.1 sq mi
ZIP Area
10,661
Density / Sq Mi
$84,997
Median Household Income
$46,694
Median Earnings
$1,271
Median Rent
$333,900
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Similar Off Market Nearby
- Super China Buffet — 4125 Harlem Ave, Norridge, IL 60706
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding corner restaurant offers a renovated dining and bar space, fully equipped commercial kitchen, and PPA licensing.
Where is this conventional restaurant 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 $949,000.
What are key features of this property?
This property features: 4,055 SF freestanding corner restaurant on a 0.16‑acre lot with PPA (Public Place of Amusement) plus liquor and food license; Late 2024 full gut‑rehab: new dining & bar space seats 95 and includes a brand‑new fully equipped commercial kitchen; Commercial kitchen includes pizza ovens, extended range, stove, prep areas, and a walk‑in cooler
