Renovated Freestanding
For Sale
$949,000
7455 W Irving Park Road, Chicago, IL 60634
Commercial Sale, Chicago, IL
Property Size4,055 SF
Lot Size0.14 Acres
Price / SF$234.03
Days on Market176
Property Features for 7455 W Irving Park Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
W on Irving Park Rd from Harlem Ave. Property is 0.2 miles ahead on the left (SW corner of Irving Park & 75th/Oketo).
Subdivision
CHI - Dunning
Standard status
Active
APN
12242020020000
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
16801
Utilities
Cooling system
Central Air, Exhaust Fan (Cooling)
Building Details
Year built
1924
Floors in Building
2
Number of units
1
Listing Agency:
Pearson Realty Group
(773) 325-2800
Listed By:
Thoma Socrates Panos · License #1015118
(847) 275-7818
Added: Apr 14
Changed: Sep 12
Last Checked: Oct 6 at 8:06AM
MLS# 12619190
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 freestanding restaurant property includes a 4,055-square-foot building with a 3,125-square-foot main level and a 930-square-foot, three-bedroom residential unit. The restaurant was gut-renovated in late 2024 and features a dining and bar area seating 95, 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 support the operating areas.
The property includes Public Place of Amusement, liquor, and food licenses. A VGT-ready game room is in place without a committed gaming operator. On-site parking accommodates more than 15 vehicles, with additional street parking available. The corner site fronts W Irving Park Road near Harlem Avenue and Harlem-Irving Plaza, with reported exposure to more than 26,000 vehicles per day. The property was originally built in 1924.
The property includes Public Place of Amusement, liquor, and food licenses. A VGT-ready game room is in place without a committed gaming operator. On-site parking accommodates more than 15 vehicles, with additional street parking available. The corner site fronts W Irving Park Road near Harlem Avenue and Harlem-Irving Plaza, with reported exposure to more than 26,000 vehicles per day. The property was originally built in 1924.
Key Highlights
- 4,055 SF freestanding restaurant property
- 3,125 SF main level plus a 930 SF 3‑bedroom residential unit
- Gut‑renovated in late 2024 with seating for 95
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
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
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Current Use
Lease Details
26,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Chicago, IL
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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 - Corner restaurant property with licensed event-use potential, a fully equipped kitchen, and an attached 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 restaurant property; 3,125 SF main level plus a 930 SF 3‑bedroom residential unit; Gut‑renovated in late 2024 with seating for 95
