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    2823 W Belmont Ave Chicago, IL 60618

    Picture of Retail space at W Belmont Ave 2823, Chicago, IL
    For Lease
    $12 SF/Yr

    Neighborhood Storefront - Chicago, IL

    Days on Market:
    85
    Last Refresh:
    Dec 11 at 5:06 pm

    Property Features for 2823 W Belmont Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    COMMR

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    2021
    Flooring type
    Concrete
    Architectural style
    Other

    Troy Realty LTD (773) 792-3000 [email protected]

    Listing agent Andrzej Olszowka (773) 792-3000 License #475160900

    Listing date Sep 18, 2025

    MLS# 12476007 Listing URL

    Copyright © 2025 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.

    Overview

    Prime Corner Retail/Office Space

    Located at the high-traffic intersection of Belmont, Elston, and California Avenues in Chicago's Avondale neighborhood, this property offers approximately 5,000 SF of newly constructed commercial space. Zoned B3-1, the space is suitable for a wide range of retail, office, or service-based businesses. Constructed in 2022, the building offers long-term appeal. The space is delivered in vanilla box condition, featuring commercial-grade floors, finished ADA-compliant restrooms, and two HVAC systems. The corner location provides exceptional visibility and access, with expansive glass frontage for signage and natural light. The interior offers build-out flexibility for retail, professional office, medical, or specialty service users. A sprinkler system is installed, and utilities and HVAC are separately metered. The location benefits from high foot and vehicle traffic on Belmont Ave, positioned in a densely populated, growing area with strong demographics, surrounded by established retailers, restaurants, and new residential developments. It also provides easy access to I-90/94, CTA buses, and the Belmont Blue Line Station.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6988127
    Latitude
    41.9391469

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    FAQs

    What type of property is this?
    Retail space - 5,000 SF newly constructed commercial space in Chicago's Avondale neighborhood.
    Where is this retail space located?
    The property is located at 2823 W Belmont Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: - Prime corner location at the high-traffic intersection of Belmont, Elston, and California Avenues, providing exceptional visibility and access.; - Brand new construction (2022) with a modern, clean space offering long-term appeal.; - 5,000 SF of flexible space suitable for retail, office, or service-based businesses (B3-1 zoning).
    (773) 792-3000
    Request Owner's contact information
    2823 W Belmont Ave Chicago, IL 60618
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    Chicago, IL 60618
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2823 W Belmont Ave Chicago, IL 60618
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