Freestanding Corner Restaurant with
7455 W Irving Park Road Chicago, IL 60634
New
7455 W Irving Park Road, Chicago, IL, 60634
$949,000
For Sale
$949,000
MULTI_FAMILY - Chicago, IL
Property Size4,055 SF
Lot Size0.16 Acres
Price / SF$234.03
Days on Market2
Property Features for 7455 W Irving Park Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- COMMR
- Bedrooms
- 3
- Bathrooms
- 4
- Rooms
- Basement, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 3, Bathroom 4, Bathroom 2, Bathroom 1
- Parking
- 15
- Basement
- Partial, Crawl Space
- Standard status
- Active
- APN
- 12242020020000
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 19724
Utilities
- Sewer type
- Public Sewer
Building Details
- Year built
- 1924
- Building materials
- Combination
Listing agency
Pearson Realty Group
(773) 325-2800
Listed by
Thoma Socrates Panos · License #475211627
(773) 325-2800
Added: Jul 21 Checked: Jul 22 at 11:06PM
MLS# 12711516
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.
Investment Insights
Based on property information with market context.
This fully renovated, freestanding corner restaurant includes a Public Place of Amusement (PPA), along with liquor and food licenses. The property operates as a newly built-out dining and bar space that seats 95, plus a brand-new, fully equipped commercial kitchen with pizza ovens, extended range, stove, prep areas, and a walk-in cooler. The venue also includes a VGT-ready game room that is currently uncommitted to any gaming operator.
The site sits on a 0.16-acre lot with prime frontage on Irving Park Road near Harlem Avenue and the Harlem-Irving Plaza (HIP). It offers a dedicated +15-car parking lot and additional street parking, and the location is described as providing high visibility from over 26,000 vehicles per day (VPD). The property is zoned COMMR.
In addition to the restaurant space, the property includes a 930 SF 3-bedroom residential unit, creating supplementary income alongside the operating business and included assets.
The site sits on a 0.16-acre lot with prime frontage on Irving Park Road near Harlem Avenue and the Harlem-Irving Plaza (HIP). It offers a dedicated +15-car parking lot and additional street parking, and the location is described as providing high visibility from over 26,000 vehicles per day (VPD). The property is zoned COMMR.
In addition to the restaurant space, the property includes a 930 SF 3-bedroom residential unit, creating supplementary income alongside the operating business and included assets.
Key Highlights
- 4,055 SF freestanding corner property with PPA, liquor, and food licenses, plus VGT‑ready game room currently uncommitted to any gaming operator.
- Fully gut‑rehabbed in late 2024 with new dining and bar space seating 95 and a brand‑new fully equipped commercial kitchen (walk‑in cooler, pizza ovens).
- 0.16‑acre lot with 3,125 SF main level and dedicated +15‑car parking lot, plus ample street parking.
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 | $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
—
—
no second resolved use
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bije's Pizza
Restaurant
Pro Shop Pizza ...
Restaurant
Similar For Sale Nearby
Similar Off Market Nearby
- Super China Buffet — 4125 Harlem Ave, Norridge, IL 60706
FAQs
What type of property is this?
Conventional restaurant - Turnkey restaurant and game room with PPA, liquor, and food licenses, recently gut-rehabbed and supported by dedicated parking and a 3-bedroom 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 property with PPA, liquor, and food licenses, plus VGT‑ready game room currently uncommitted to any gaming operator.; Fully gut‑rehabbed in late 2024 with new dining and bar space seating 95 and a brand‑new fully equipped commercial kitchen (walk‑in cooler, pizza ovens).; 0.16‑acre lot with 3,125 SF main level and dedicated +15‑car parking lot, plus ample street parking.
