Three-Unit Mixed-Use
For Sale
$1,324,000
1020 W Belmont Ave, Chicago, IL 60657
Includes a ground-floor storefront and two residential apartments with shared laundry and exterior parking.
Property Size4,200 SF
Price / SF$315.24
Days on Market48
Property Features for 1020 W Belmont Ave
General Information
Standard status
Active
Size
4,200 SF
Site & Location
Neighborhood
Lakeview
Building Details
Year Built
1911
Listing Agency:
Essex 312, LLC
Listed By:
Quinn Evans · License #475216885
(224) 244-3098
Source:
Saladinosells
Added: Sep 14
Changed: Oct 25
Last Checked: Oct 5 at 11:52PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Essex 312, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,200-square-foot mixed-use building contains three units: a ground-level commercial storefront and two 3-bedroom, 1-bath residential apartments of approximately 1,200 SF each. Building features include central air, separate electric panels, shared laundry facilities, and two exterior parking spaces. The commercial unit is leased through 2030 to 404 Burgers | Barbecue.
Located at 1020 W Belmont Ave in Chicago’s Lake View area, the property sits near the CTA Belmont Red, Brown, and Purple Line station. Wrigley Field is within walking distance, with additional access to the Lakefront Trail and Lincoln Park. The surrounding context includes the Wrigleyville, Northalsted, and Lakeview East retail and nightlife districts, while Belmont Avenue provides a direct commercial setting.
Located at 1020 W Belmont Ave in Chicago’s Lake View area, the property sits near the CTA Belmont Red, Brown, and Purple Line station. Wrigley Field is within walking distance, with additional access to the Lakefront Trail and Lincoln Park. The surrounding context includes the Wrigleyville, Northalsted, and Lakeview East retail and nightlife districts, while Belmont Avenue provides a direct commercial setting.
Key Highlights
- Three‑unit configuration with one commercial storefront and two 3‑bedroom/1‑bath apartments
- 4,200 SF mixed‑use building with two residential units of approximately 1,200 SF each
- Ground‑floor commercial space leased through 2030 to 404 Burgers | Barbecue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,875
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,417,500
$1.4M
Cap Rate 7%
$1,012,500
$1.0M
Cap Rate 9%
$787,500
$787.5K
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$126.0K $30.00/SF
− Vacancy
−$12.6K −$3.00/SF
EGI
$113.4K $27.00/SF
− OpEx
−$42.5K −$10.13/SF
NOI
$70.9K $16.88/SF
Area
Chicago, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,417,500
Cap Rate 7%
$1,012,500
Cap Rate 9%
$787,500
Alternative Uses
Best Use
Mixed Use
$1.01M
$885.9K – $1.18M
NOI $70,875 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$919.7K
$804.8K – $1.07M
NOI $64,382 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,620 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,972
Businesses Nearby
Explore this area
Business Placement
Demographics for 60657, IL
72,316
Population
42,246
Households
1.7
Avg Household Size
32
Median Age
87%
College-Educated
99%
High-School Grad
2.2 sq mi
ZIP Area
32,871
Density / Sq Mi
$109,025
Median Household Income
$77,731
Median Earnings
$1,839
Median Rent
$534,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a ground-floor storefront and two residential apartments with shared laundry and exterior parking.
Where is this mixed-use property located?
The property is located at 1020 W Belmont Ave Chicago, IL.
What is the asking price?
The asking price for this property is $1,324,000.
What are key features of this property?
This property features: Three‑unit configuration with one commercial storefront and two 3‑bedroom/1‑bath apartments; 4,200 SF mixed‑use building with two residential units of approximately 1,200 SF each; Ground‑floor commercial space leased through 2030 to 404 Burgers | Barbecue
