Newly Rehabbed Retail
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 Market54
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
Listed By:
Tony Liu · License #471021591
(312) 888-5486
Source:
Moodyscre
Added: Jul 25
Changed: Sep 10
Last Checked: Sep 15 at 6:39AM
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
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,204
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$664,080
$664.1K
Cap Rate 7%
$474,343
$474.3K
Cap Rate 9%
$368,933
$368.9K
Market Conditions
NOI Build-Up for 2,400 SF
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.
Gross rent
$51.8K $21.60/SF
− Vacancy
−$4.4K −$1.84/SF
EGI
$47.4K $19.76/SF
− OpEx
−$14.2K −$5.93/SF
NOI
$33.2K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$664,080
Cap Rate 7%
$474,343
Cap Rate 9%
$368,933
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,867
Businesses Nearby
318k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 30%
Dining 27%
Shops & Services 15%
Superstores 10%
Whole Foods Market
Groceries
64,387 visits/mo
0.3 miles
Target
Superstores
32,877 visits/mo
0.4 miles
Jewel-Osco
Groceries
30,208 visits/mo
0.5 miles
Chick-fil-A
Dining
19,353 visits/mo
0.5 miles
Anthropologie
Apparel
14,685 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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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.
