1625 West Irving Park Road, Chicago, IL, 60613

$2,900,000

About 1625 West Irving Park Road

Pleased to present an exceptional value-add investment opportunity at 1625 W Irving Park Rd, Chicago - a premium mixed-use property located in the heart of Lakeview, one of Chicago's most vibrant and desirable neighborhoods. The property spans a 10,640 SF lot and is improved with a 12,995 SF, partially four-story mixed-use building, along with a single-story restaurant. A large surface parking area comprising approximately 3,900 SF offers multiple development and use options. Investment Highlights: Significant value-add potential, including: The by-right addition of up to six dwelling units Potential for free-standing residential development Opportunity to reposition and right-size the existing, fully equipped restaurant Property Details: The four-story mixed-use structure, built in 2014, features: Private dining and event space on the first and second floors Four (4) two-bedroom, one-bath residential units on the third and fourth floors An elevator and multiple access points, enabling flexibility to convert the second-floor event space into 2-3 additional dwelling units A full basement supporting restaurant operations The single-story restaurant space (approx. 2,700 SF) includes: A rooftop bar, full kitchen with two hoods A full bar and indoor seating for 103 Additional outdoor patio and sidewalk cafe seating Reconfiguring the restaurant to meet current market demand for smaller, more efficient spaces presents an opportunity to reduce operating costs (labor, utilities, insurance) and command a higher per-SF rental rate. The rear surface parking area with prominent Marshfield frontage offers added flexibility, whether through development of a free-standing rental or condo building, or creation of a dynamic outdoor beer garden. This versatility only enhances the property's value-add upside.

Additional Information: This property is located in the CHI - Lake View neighborhood, IL. This 0 bedrooms mixed use property is priced at $2,900,000.

Facts & Features

MLS® # 12356730
Price $2,900,000
Bathrooms 0.00
Taxes $51,367
Acres 0.00
Year Built 2015
Type Commercial Sale
Sub-Type Mixed Use
Status Active

Community Information

Address 1625 West Irving Park Road
Area CHI - Lake View
City Chicago
County Cook
State IL
Zip Code 60613

Amenities

Is Waterfront No
Has Pool No

Interior

Cooling Central Individual
Fireplace No
Has Basement No

Additional Information

Days on Market 69
Zoning MULTI
Foreclosure No
Short Sale No
RE / Bank Owned No
Taxes $51,367

Listing Details

OfficeSperry Van Ness
Contact Infoangela.corvo@svn.com

Listing Map

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