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3159 W Belmont Ave Chicago, IL 60657

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For Sale
$4,950,000

High-traffic corner location with long-term tenants and value-add potential.

Property size:
18,812 SF
Lot size:
0.25 Acres

Property Features for 3159 W Belmont Ave

General Information

Size
18,812 SF
Lot size
0.25 Acres

Source: @Properties | Chicago (North) Agent Joyce Gallo

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Prime Corner Mixed-Use Investment

Located at the intersection of Belmont, California, and Elston Avenues, this mixed-use property benefits from high daily traffic volume. The corner building has 18,812 square feet with 159 linear feet on Belmont Avenue. The property at 3173 Elston Avenue includes a 4,500 square foot lot with a 4,200 square foot one-story brick building under a triple net lease. The property features seven stores, nine apartments, and income from a rooftop sign. Each apartment and store has individual forced air conditioning and heating units. Each apartment includes a private roof deck, and there is also a common roof deck for all tenants. A shared parking lot with 19 spaces adjoins the properties. The tenants are long-term, and there is potential to increase apartment rents to current market rates. The properties are meticulously cleaned and well-kept and will be sold as is. The sale is subject to a 1031 Exchange. The same ownership has maintained the property for over 55 years. The properties will not be divided.
Location Intelligence

Current Use by Public Records

Mixed-use properties

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
-87.8023541
Latitude
41.937806

FAQs

What type of property is this?
Mixed-use property - High-traffic corner location with long-term tenants and value-add potential.
Where is this mixed-use property located?
The property is located at 3159 W Belmont Ave Chicago, IL.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: - Prime corner location at the intersection of three major avenues (Belmont, California, and Elston) with high traffic volume.; - Significant potential to increase rental income by raising rents to current market rates.; - Substantial land square footage with a corner building of 18,812 square feet and an additional 4,500 square foot lot.
More about this property
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