Renovated Freestanding
7455 W Irving Park Road, Chicago, IL 60634
For Sale
$949,000
Commercial Sale, Chicago, IL
Property Size4,055 SF
Lot Size0.14 Acres
Price / SF$234.03
Days on Market207
Property Features for 7455 W Irving Park Road
General Information
Property type
Property subtype
Zoning
Directions
Subdivision
Standard status
APN
Lot size
Additional Details
Business Included
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Cooling system
Building Details
Year built
Floors in Building
Number of units
Buildings
Listing Agency:
Pearson Realty Group
Listed By:
Thoma Socrates Panos · License #1015118
(773) 325-2800
Added: Apr 14
Changed: Oct 24
Last Checked: Nov 6 at 3:06PM
MLS# 12617645
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.
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Investment Insights
Based on property information with market context.
This freestanding restaurant property combines a 3,125-square-foot main level with a 930-square-foot, 3-bedroom residential unit, totaling 4,055 square feet. The restaurant was gut-rehabilitated in late 2024 and includes dining and bar areas for 95 seats, along with a commercial kitchen equipped with pizza ovens, an extended range, stove, prep areas, and a walk-in cooler. Central air and an exhaust fan provide cooling, and the property carries COMMR zoning.
The asset includes Public Place of Amusement, liquor, and food licenses. Its VGT-ready game room is not committed to a gaming operator. A dedicated parking lot accommodates +15 cars, with additional street parking available. The property fronts Irving Park Road near Harlem Avenue and Harlem-Irving Plaza, with reported exposure to more than 26,000 vehicles per day.
Built in 1924, the property is offered with the real estate, business, and existing assets, including the restaurant equipment and furnishings.
The asset includes Public Place of Amusement, liquor, and food licenses. Its VGT-ready game room is not committed to a gaming operator. A dedicated parking lot accommodates +15 cars, with additional street parking available. The property fronts Irving Park Road near Harlem Avenue and Harlem-Irving Plaza, with reported exposure to more than 26,000 vehicles per day.
Built in 1924, the property is offered with the real estate, business, and existing assets, including the restaurant equipment and furnishings.
Key Highlights
- 4,055 SF freestanding corner restaurant property
- Gut‑rehabilitated in late 2024 with dining and bar space for 95 seats
- 3,125 SF main level plus a 930 SF 3‑bedroom residential unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,658
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,433,160
$1.4M
Cap Rate 7%
$1,023,686
$1.0M
Cap Rate 9%
$796,200
$796.2K
Market Conditions
NOI Build-Up for 4,055 SF
Gross rent
$102.2K $25.20/SF
− Vacancy
−$6.6K −$1.64/SF
EGI
$95.5K $23.56/SF
− OpEx
−$23.9K −$5.89/SF
NOI
$71.7K $17.67/SF
Area
ZIP 60634
Vacancy
6.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,433,160
Cap Rate 7%
$1,023,686
Cap Rate 9%
$796,200
Alternative Uses
Best Use
Specialty Retail
$1.02M
$895.7K – $1.19M
NOI $71,658 @ 7.0% cap · market cap 7.55%
Second Best
Mixed Use
$884.1K
$773.6K – $1.03M
NOI $61,889 @ 7.0% cap · market cap 6.52%
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.
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Current Use
Lease Details
1
Residential units
26,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
1,131
Businesses Nearby
19k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Shops & Services 40%
Electronics 17%
Dollar General
Shops & Services
7,037 visits/mo
0.1 miles
KFC
Dining
6,088 visits/mo
0.4 miles
T-Mobile
Electronics
3,262 visits/mo
0.2 miles
Jimmy John's
Dining
2,326 visits/mo
0.2 miles
Caliber Collision
Shops & Services
744 visits/mo
0.2 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
$333,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Conventional restaurants in Chicago, IL
Properties on Market for Conventional restaurants in Chicago
Vacancy Rate% for Retail in Chicago, IL
Similar Off Market Nearby
- Super China Buffet — 4125 Harlem Ave, Norridge, IL 60706
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Corner restaurant property with licensed event capabilities, a commercial kitchen, parking, and an additional residential unit.
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 property; Gut‑rehabilitated in late 2024 with dining and bar space for 95 seats; 3,125 SF main level plus a 930 SF 3‑bedroom residential unit
