Two-Story Mixed-Use Building with
1114 West Belmont Avenue Chicago, IL 60657
1114 West Belmont Avenue, Chicago, IL, 60657
Contact for pricing
For Sale
Contact for pricing
Pending
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 Market56
Property Features for 1114 West Belmont Avenue
General Information
- Standard status
- Pending
- Size
- 13,520 SF
- Lot size
- 0.02 Acres
- Property subtype
- Retail, Multifamily
Building Details
- Year Built
- 1918
Listing agency
Greenstone Partners
Listed by
Brewster Hague · License #IL 475.165689
Source
Crexi
Added: May 28 Updated: Jul 10 at 1:51PM Checked: Jul 22 at 9:54AM
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
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
Local Financial Insights For Specialty Retail
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 | $356.9k | $26.40 |
| − Vacancy | −$21.4k | −$1.58 |
| EGI | $335.5k | $24.82 |
| − OpEx | −$83.9k | −$6.20 |
| NOI | $251.6k | $18.61 |
13,520 SF · lease $26.40/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.59M
$3.15M – $4.19M
NOI $251,634 @ 7.0% cap · market cap 5.99%
Second Best
Mixed Use
$3.26M
$2.85M – $3.80M
NOI $228,150 @ 7.0% cap · market cap 5.43%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bittersweet Pastry Shop ...
Bakery
Similar For Sale Nearby
FAQs
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
