Two-Story Mixed-Use Building with
For Sale
Contact for pricing
Pending
1114 West Belmont Avenue, Chicago, IL 60657
100% leased mixed-use property featuring ground-floor retail, apartments, and garage parking on a high-activity corridor.
Property Size13,520 SF
Lot Size0.02 Acres
Days on Market150
Property Features for 1114 West Belmont Avenue
General Information
Standard status
Pending
Size
13,520 SF
Total Parking Spaces
4
Lot size
0.02 Acres
Property subtype
Retail, Multifamily
Zoning
B3-2
Occupancy
100%
Site & Location
Neighborhood
Lakeview
Traffic Count
2,463,000 vehicles/day
Additional Details
Business Included
Yes
Multifamily Units
7
Building Details
Year Built
1918
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Greenstone Partners
Listed By:
Brewster Hague · License #IL 475.165689
(312) 614-1498
Source:
Crexi
Added: May 28
Changed: Oct 10
Last Checked: Oct 23 at 5:04AM
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
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Investment Insights
Based on property information with market context.
This two-story, mixed-use building is offered as a 100% fee-simple interest and is currently 100% leased. The property includes one ground-floor retail space, seven apartment units, and four garage parking spaces. The building totals approximately 13,520 square feet on a 17,740-square-foot site with about 62 feet of frontage along West Belmont Avenue.
The ground-floor retail space is leased to Bittersweet Pastry Shop & Cafe, a neighborhood bakery operating since 1992. The remarks indicate this location serves as Bittersweet’s flagship shop and central production facility for baked goods distributed to its other Chicago locations. The property is positioned along the active Belmont Avenue corridor in Chicago’s Lakeview neighborhood, approximately three blocks from the CTA Belmont ‘L’ Station, which serves the Red, Brown, and Purple lines. The Belmont Station recorded 2,463,000 boardings in 2025, and the location also provides immediate access to CTA bus routes #8, #22, and #77.
For tenants and owners, the combination of street-level retail and residential units creates a balanced mixed-use configuration on Belmont Avenue. Surrounding retail includes a mix of national and neighborhood tenants listed in the offering, and the area’s day-to-day demand is supported by nearby DePaul University and the professional population in Lakeview, as described in the remarks.
The ground-floor retail space is leased to Bittersweet Pastry Shop & Cafe, a neighborhood bakery operating since 1992. The remarks indicate this location serves as Bittersweet’s flagship shop and central production facility for baked goods distributed to its other Chicago locations. The property is positioned along the active Belmont Avenue corridor in Chicago’s Lakeview neighborhood, approximately three blocks from the CTA Belmont ‘L’ Station, which serves the Red, Brown, and Purple lines. The Belmont Station recorded 2,463,000 boardings in 2025, and the location also provides immediate access to CTA bus routes #8, #22, and #77.
For tenants and owners, the combination of street-level retail and residential units creates a balanced mixed-use configuration on Belmont Avenue. Surrounding retail includes a mix of national and neighborhood tenants listed in the offering, and the area’s day-to-day demand is supported by nearby DePaul University and the professional population in Lakeview, as described in the remarks.
Key Highlights
- 13,520 SF, two‑story mixed‑use building on 7,740 SF of land with ~62 ft frontage on W Belmont Ave
- 100% leased structure with 1 retail space and 7 apartment units plus 4 garage parking spaces
- Ground‑floor retail is leased to Bittersweet Pastry Shop & Cafe, operating since 1992 and serving as its flagship location and central production facility
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$228,150
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,563,000
$4.6M
Cap Rate 7%
$3,259,286
$3.3M
Cap Rate 9%
$2,535,000
$2.5M
Market Conditions
NOI Build-Up for 13,520 SF
Gross rent
$405.6K $30.00/SF
− Vacancy
−$40.6K −$3.00/SF
EGI
$365.0K $27.00/SF
− OpEx
−$136.9K −$10.13/SF
NOI
$228.2K $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%
$4,563,000
Cap Rate 7%
$3,259,286
Cap Rate 9%
$2,535,000
Alternative Uses
Best Use
Mixed Use
$3.26M
$2.85M – $3.80M
NOI $228,150 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$2.96M
$2.59M – $3.45M
NOI $207,250 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$6.37M
$5.58M – $7.44M
NOI $446,225 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
7
Residential units
2,463,000 VPD
Traffic count
Multi-tenant
Tenancy
Turnkey business
Opportunity
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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - 100% leased mixed-use property featuring ground-floor retail, apartments, and garage parking on a high-activity corridor.
Where is this apartment building located?
The property is located at 1114 West Belmont Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 13,520 SF, two‑story mixed‑use building on 7,740 SF of land with ~62 ft frontage on W Belmont Ave; 100% leased structure with 1 retail space and 7 apartment units plus 4 garage parking spaces; Ground‑floor retail is leased to Bittersweet Pastry Shop & Cafe, operating since 1992 and serving as its flagship location and central production facility
