Medical Office
For Sale
$698,000
Pending
2219-23 W Belmont Avenue, Chicago, IL 60618
Existing clinical rooms and support areas provide a working medical-office configuration.
Property Size1,227 SF
Days on Market12
Property Features for 2219-23 W Belmont Avenue
General Information
Standard status
Pending
Size
1,227 SF
Property subtype
Retail/Stores
Zoning
COMMR
Space & Availability
Floor
Ground Floor
Condition
Turnkey
Site & Location
Neighborhood
Avondale
Road Access
Yes
Public Transit
Yes
Additional Details
Office Units
2
Currently Operating
Yes
Property Use
Medical Office
Taxes and HOA fees
Annual Taxes
$20,543
Amenities
(312) 242-1001
75*125
1227
Building Details
Building Size
1,227 SF
Year Built
2007
Stories
4
Listing Agency:
Baird & Warner
(708) 787-2808
Listed By:
Jake Schory
Source:
Kawashgroup
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 31 at 2:19AM
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 Baird & Warner
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Two commercial condominium spaces at 2219-23 W Belmont Avenue are configured and operating as professional medical offices. Their layout includes reception and waiting areas, private treatment rooms, administrative work areas, laboratory and sterilization spaces, storage, and restrooms. The units have 12-foot ceilings and ground-level access, with zoning designated COMMR.
The property was built in 2007 and is in Chicago, near Roscoe Village, Lakeview, and North Center. Public transportation, neighborhood businesses, restaurants, and residential areas are described as nearby. The spaces can be acquired individually or together.
The property was built in 2007 and is in Chicago, near Roscoe Village, Lakeview, and North Center. Public transportation, neighborhood businesses, restaurants, and residential areas are described as nearby. The spaces can be acquired individually or together.
Key Highlights
- Two medical office condominium spaces, available separately or as a combined purchase
- Clinical layout includes treatment rooms, reception and waiting areas, lab, and sterilization areas
- 12‑foot ceilings and ground‑level access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,189
Cap Rate
3.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$543,780
$543.8K
Cap Rate 7%
$388,414
$388.4K
Cap Rate 9%
$302,100
$302.1K
Market Conditions
NOI Build-Up for 1,227 SF
Gross rent
$47.3K $38.52/SF
− Vacancy
−$11.0K −$8.98/SF
EGI
$36.3K $29.54/SF
− OpEx
−$9.1K −$7.39/SF
NOI
$27.2K $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 Rate 5%
$543,780
Cap Rate 7%
$388,414
Cap Rate 9%
$302,100
Alternative Uses
Best Use
Office B
$388.4K
$339.9K – $453.2K
NOI $27,189 @ 7.0% cap · market cap 3.90%
Second Best
Healthcare Medical
$232.2K
$203.2K – $270.9K
NOI $16,255 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$536.1K
$469.1K – $625.5K
NOI $37,527 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,301
Businesses Nearby
Balanced
Demand for This Use
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
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- Roscoe Village Animal Hospital — 3131 N Clybourn Ave, Chicago, IL 60618
- Successful Therapy of Vitamin D-Dependant Rickets in a Kitten — 3123 N Clybourn Ave, Chicago, IL 60618
Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing clinical rooms and support areas provide a working medical-office configuration.
Where is this medical office space located?
The property is located at 2219-23 W Belmont Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $698,000.
What are key features of this property?
This property features: Two medical office condominium spaces, available separately or as a combined purchase; Clinical layout includes treatment rooms, reception and waiting areas, lab, and sterilization areas; 12‑foot ceilings and ground‑level access
