Newly Rehabbed Retail
New
For Sale
Contact for pricing
1342 W Belmont Ave, Chicago, IL 60657
Newly rehabbed retail condo with an open layout and one included parking space, tenant renewed a 5-year lease.
Property Size2,400 SF
Price / SF$340.83
Days on Market7
Property Features for 1342 W Belmont Ave
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
1
Property subtype
RETAIL
Additional Details
Cap Rate
6.31%
Listing Agency:
YOUMU Ventures LLC
(312) 888-5486
Listed By:
Tony Liu · License #IL 471.021591.
(312) 888-5486
Source:
Moodyscre
Added: Jul 25
Changed: Jul 26
Last Checked: Jul 30 at 1:57PM
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 YOUMU Ventures LLC
Investment Insights
Based on property information with market context.
This newly rehabbed retail condo offers a clean, open layout designed for flexible retail and service use. The space features high-quality finishes and is currently leased, with the tenant having just renewed a 5-year lease.
The property is located at 1342 W Belmont Ave in Chicago, IL 60657. One parking space is included with the unit.
For buyers seeking an income-producing asset, the offering is presented as a prime retail condo with a stated 6.31% cap rate.
The property is located at 1342 W Belmont Ave in Chicago, IL 60657. One parking space is included with the unit.
For buyers seeking an income-producing asset, the offering is presented as a prime retail condo with a stated 6.31% cap rate.
Key Highlights
- Tenant just renewed a 5‑year lease on this newly rehabbed retail condo.
- Newly rehabbed space with high‑quality finishes and an open layout.
- Includes 1 parking space.
Financial Insights For 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 | $51.8k | $21.60 |
| − Vacancy | −$4.4k | −$1.84 |
| EGI | $47.4k | $19.76 |
| − OpEx | −$14.2k | −$5.93 |
| NOI | $33.2k | $13.83 |
2,400 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$474.3K
$415.1K – $553.4K
NOI $33,204 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$990.2K – $1.32M
NOI $79,212 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,814
Businesses Nearby
303k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 40%
Shops & Services 21%
Dining 15%
Superstores 11%
Whole Foods Market
Groceries
64,387 visits/mo
0.3 miles
Jewel-Osco
Groceries
55,541 visits/mo
0.5 miles
Target
Superstores
32,877 visits/mo
0.4 miles
Shell
Shops & Services
14,072 visits/mo
0.5 miles
Chase Bank
Shops & Services
12,865 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Newly rehabbed retail condo with an open layout and one included parking space, tenant renewed a 5-year lease.
Where is this retail space located?
The property is located at 1342 W Belmont Ave Chicago, IL.
What is the asking price?
The asking price for this property is $818,000.
What are key features of this property?
This property features: Tenant just renewed a 5‑year lease on this newly rehabbed retail condo.; Newly rehabbed space with high‑quality finishes and an open layout.; Includes 1 parking space.
