Street-Level Retail
New
For Sale
$350,000
2218 W Belmont Ave, Chicago, IL 60618
The commercial space can accommodate medical, wellness, or traditional retail uses on Belmont Avenue.
Property Size1,075 SF
Price / SF$325.58
Days on Market2
Property Features for 2218 W Belmont Ave
General Information
Standard status
Active
Size
1,075 SF
Property subtype
Retail
Additional Details
Floor
Ground
Building Details
Building Size
1,075 SF
Listing Agency:
Joseph Rossi & Associates, Inc (JRA) - Corporate
Listed By:
Scott Fitzgerald · License #471014248
(312) 523-3176
Source:
Jrossiandassociates
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 21 at 2:28AM
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 Joseph Rossi & Associates, Inc (JRA) - Corporate
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Investment Insights
Based on property information with market context.
This 1,075-square-foot commercial condominium occupies the street level of a building at 2218 W Belmont Ave in Chicago’s Roscoe Village neighborhood. The space is suited to medical, dental, wellness, or traditional retail use.
Free, unmetered street parking is available along Belmont. Two residential developments, each with more than 50 units, are underway on the same block.
Free, unmetered street parking is available along Belmont. Two residential developments, each with more than 50 units, are underway on the same block.
Key Highlights
- 1,075‑square‑foot street‑level commercial condominium
- Potential uses include medical, dental, wellness, and traditional retail
- Free, unmetered street parking along Belmont
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,120
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$302,400
$302.4K
Cap Rate 7%
$216,000
$216.0K
Cap Rate 9%
$168,000
$168.0K
Market Conditions
NOI Build-Up for 1,075 SF
Gross rent
$23.6K $21.96/SF
− Vacancy
−$2.0K −$1.87/SF
EGI
$21.6K $20.09/SF
− OpEx
−$6.5K −$6.03/SF
NOI
$15.1K $14.07/SF
Area
ZIP 60618
Vacancy
8.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$302,400
Cap Rate 7%
$216,000
Cap Rate 9%
$168,000
Alternative Uses
Best Use
Retail
$216.0K
$189.0K – $252.0K
NOI $15,120 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$469.7K
$411.0K – $548.0K
NOI $32,878 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,301
Businesses Nearby
167k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 62%
Dining 32%
Shops & Services 6%
Mariano's
Groceries
56,899 visits/mo
0.3 miles
Jewel-Osco
Groceries
46,171 visits/mo
0.4 miles
Golden Nugget Pancake House
Dining
19,594 visits/mo
0.5 miles
Chipotle Mexican Grill
Dining
14,587 visits/mo
0.3 miles
Petco
Shops & Services
8,690 visits/mo
0.3 miles
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
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
Similar Off Market Nearby
- Ish’s Flowers — 2968 N Elston Ave, Chicago, IL 60618
- Angels Cheeks Chicago Flower Shop — 1831 W Belmont Ave suite 1B, Chicago, IL 60657
- FloraShip — 1652 w roscoe st, chicago, il 60657
Frequently Asked Questions
What type of property is this?
Storefront property - The commercial space can accommodate medical, wellness, or traditional retail uses on Belmont Avenue.
Where is this storefront property located?
The property is located at 2218 W Belmont Ave Chicago, IL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,075‑square‑foot street‑level commercial condominium; Potential uses include medical, dental, wellness, and traditional retail; Free, unmetered street parking along Belmont
