1625 W Irving Park Rd Immeuble residentiel 5 lots 2 504 092 € (500 818 €/Lot) Chicago, IL 60613

SVN Chicago Commercial is 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 café 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.