7455 W Irving Park Rd - Freestanding FOR SALE


Chicago, IL 60634- Belmont Heights
$949,000 USD
773-325-2800
7455 W Irving Park Rd, Chicago, IL for Sale
$949,000 USD
Freestanding - FOR SALE
1/13
null | 10.7% Cap Rate

7455 W Irving Park Rd
Chicago, IL 60634
Belmont Heights


HIGHLIGHTS

  • Turnkey Rehab & Dual Income: Fully renovated bar/restaurant space with an attached 3-bedroom apartment for secondary rental revenue.
  • Prime High-Traffic Location: Exceptional corner visibility with up to 26,000 daily vehicles near the Harlem-Irving Plaza retail hub.
  • Immediate & Future Upside: Includes a Chicago PPA liquor license and a dedicated game room pre-built for potential future gaming/VGT revenue.
  • Professional Kitchen Build-Out: Fully equipped with newer commercial pizza ovens, a complete kitchen line, walk-in refrigeration, and much more.
  • Dedicated Private Parking: Includes a rare corner lot and plenty of street parking with easy accessibility for patrons.
  • Strong Demographic Profile: Situated in a high-purchasing-power area with a $92,409 median household income and a dense residential base.

OVERVIEW

NEW PRICE. Rare turnkey opportunity for an operator or investor seeking a fully renovated, PPA-licensed venue with uncommitted VGT potential in a prime Chicago corridor — includes Real Estate, Business, and Assets. Unlike standard restaurant offerings, this 4,055 SF freestanding corner asset includes a rare Public Place of Amusement (PPA), Liquor, and Food license, enabling the owner to collect cover charges or donations for ticketed events, raffles, live music, comedy, and more — creating multiple high-margin revenue streams beyond traditional food and beverage. The VGT-ready game room is currently uncommitted to any gaming operator, giving a new owner full leverage to negotiate their own terminal operator agreement and signing incentives. The restaurant was fully gut-rehabbed in late 2024, offering a new dining & bar space that seats 95 and a brand-new fully equipped commercial kitchen featuring pizza ovens, extended range, stove, prep areas, a walk-in cooler, and much more. The property functions as a clean, SBA-compliant operating shell primed for immediate occupancy — a true plug-and-play asset priced to bypass construction and permitting delays, minimize capital requirements, and facilitate a seamless acquisition of all existing licenses and FF&E. Situated on a 0.16-acre lot, the property features a 3,125 SF main level, a dedicated +15-car parking lot with ample street parking, and a 930 SF 3-bedroom residential unit for additional income. The site offers prime frontage on Irving Park Road near Harlem Avenue and the Harlem-Irving Plaza (HIP), capturing high visibility from over 26,000 vehicles per day (VPD) within a densely populated residential corridor. Contact Listing Agent for showings and details.

FOR SALE DETAILS

PRICE

$949,000 USD

PRICE/SF

$234 USD /SF

CAP RATE

10.7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Bar, Restaurant, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1922

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

C1-2

APN/PARCEL ID

12-24-202-001-0000,12-24-202-002-0000

ASK ABOUT THIS PROPERTY

Thoma Socrates PanosPearson Realty GroupMore Info
773-325-2800

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Thoma Socrates PanosPearson Realty GroupMore Info
773-325-2800

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.