Office-Creative Storefront
For Sale
$349,000
2136 W Belmont Avenue Unit 1, Chicago, IL 60618
Brick storefront office/creative suite with reception, meeting spaces, private rooms, kitchenette, and a private restroom.
Property Size1,000 SF
Price / SF$349
Days on Market136
Property Features for 2136 W Belmont Avenue Unit 1
General Information
Standard status
Active
Size
1,000 SF
Property subtype
COMMERCIAL
Zoning
C1-2
Additional Details
Traffic Count
17,000 vehicles/day
Taxes and HOA fees
Annual Taxes
$2,987
Amenities
open reception
meeting
presentation
lounge area with fireplace and wet bar
private offices/treatment rooms/sound studio
desk alcove
kitchenette
storage room
closets
private restroom
security camera system
video doorbell
Building Details
Building Size
1,000 SF
Year Built
2018
Listing Agency:
Century 21 S.G.R., Inc.
Listed By:
Myra Nimchaiyong · License #471018194
(773) 575-2779
Source:
Harkinsandassociates
Added: Apr 24
Changed: Aug 23
Last Checked: Sep 5 at 5:48AM
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 Century 21 S.G.R., Inc.
Investment Insights
Based on property information with market context.
This office/creative storefront suite features a brick facade with steel and glass elements and modern interior lighting, including LED wall sconces and double-ring pendant lighting. The layout includes an open reception area, meeting and presentation space, a lounge area with a fireplace and wet bar, three private offices/treatment rooms/sound studio spaces, a built-in desk alcove, and a kitchenette. Additional improvements include custom built-ins and shelving, a storage room, closets, and a private restroom with wall cabinetry. Security features include a three-camera video system with remote recording and a video doorbell with remote entry.
The property is located on Belmont Avenue in Roscoe Village and is described as having over 17,000 VPD. The space is zoned C1-2, which allows for personal service businesses and a variety of uses. Parking is included, with abundant street parking available. The property is available for sale or lease.
The property is located on Belmont Avenue in Roscoe Village and is described as having over 17,000 VPD. The space is zoned C1-2, which allows for personal service businesses and a variety of uses. Parking is included, with abundant street parking available. The property is available for sale or lease.
Key Highlights
- 2018‑built brick storefront office/creative space with steel and glass exterior
- Interior layout includes open reception, meeting/presentation area, lounge with fireplace, and wet bar
- Includes 3 private offices/treatment rooms/sound studio plus built‑in desk alcove with custom shelving
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
$22,159
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
6.35%
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%
$443,180
$443.2K
Cap Rate 7%
$316,557
$316.6K
Cap Rate 9%
$246,211
$246.2K
Market Conditions
NOI Build-Up for 1,000 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
$38.5K $38.52/SF
− Vacancy
−$9.0K −$8.98/SF
EGI
$29.5K $29.54/SF
− OpEx
−$7.4K −$7.39/SF
NOI
$22.2K $22.16/SF
Area
ZIP 60618
Vacancy
23.30%
Lease Rate
$38.52 /SF/Yr
Expense Ratio
25.00%
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%
$443,180
Cap Rate 7%
$316,557
Cap Rate 9%
$246,211
Alternative Uses
Best Use
Office B
$316.6K
$277.0K – $369.3K
NOI $22,159 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$436.9K
$382.3K – $509.7K
NOI $30,584 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
17,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
2,575
Businesses Nearby
Explore this area
Business Placement
Demographics for 60618, IL
90,316
Population
41,053
Households
2.2
Avg Household Size
35
Median Age
55%
College-Educated
89%
High-School Grad
5.0 sq mi
ZIP Area
18,063
Density / Sq Mi
$101,558
Median Household Income
$60,263
Median Earnings
$1,534
Median Rent
$538,300
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - Brick storefront office/creative suite with reception, meeting spaces, private rooms, kitchenette, and a private restroom.
Where is this creative space located?
The property is located at 2136 W Belmont Avenue Unit 1 Chicago, IL.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 2018‑built brick storefront office/creative space with steel and glass exterior; Interior layout includes open reception, meeting/presentation area, lounge with fireplace, and wet bar; Includes 3 private offices/treatment rooms/sound studio plus built‑in desk alcove with custom shelving
