Lakeview Mixed-Use Investment
For Sale
Contact for pricing
1024 W Belmont Ave, Chicago, IL
Mixed-use property in prime Lakeview location with upside potential.
Property Size5,433 SF
Lot Size0.13 Acres
Price / SF$520.89
Days on Market265
Property Features for 1024 W Belmont Ave
General Information
Standard status
Active
Size
5,433 SF
Lot size
0.13 Acres
Property subtype
MULTIFAMILY
Listing Agency:
Greenstone Partners - Corporate
(312) 448-2132
Listed By:
Danny Spitz · License #471018795
(312) 234-0360
Source:
Moodyscre
Added: Nov 7, 2025
Changed: Jul 6
Last Checked: Jul 21 at 6:02AM
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 Greenstone Partners - Corporate
Investment Insights
Based on property information with market context.
This mixed-use property is located in the Lakeview neighborhood. The property features apartment and retail spaces. The property has a total size of 5433 square feet. The location is highly walkable and transit-served. The property offers upside potential in apartment rents and features a long-term retail tenant with rent growth potential. The property benefits from superior demographics.
Key Highlights
- Prime Lakeview Location
- Highly Walkable + Transit‑Served Location
- Upside Potential In Apartment Rents
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $159.7k | $29.40 |
| − Vacancy | −$8.3k | −$1.53 |
| EGI | $151.4k | $27.87 |
| − OpEx | −$68.1k | −$12.54 |
| NOI | $83.3k | $15.33 |
5,433 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,283 @ 7.0% cap · market cap 2.94%
Second Best
Retail
$1.07M
$939.6K – $1.25M
NOI $75,164 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$2.56M
$2.24M – $2.99M
NOI $179,315 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,972
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Mixed-use property in prime Lakeview location with upside potential.
Where is this retail space located?
The property is located at 1024 W Belmont Ave Chicago, IL.
What is the asking price?
The asking price for this property is $2,830,000.
What are key features of this property?
This property features: Prime Lakeview Location; Highly Walkable + Transit‑Served Location; Upside Potential In Apartment Rents
