Mixed-Use Property with Coach
For Sale
$1,099,000
2310 West Belmont Avenue, Chicago, IL 60618
Street-level office and retail space is paired with upper-floor residential units and a rear coach house.
Property Size3,000 SF
Price / SF$366.33
Days on Market162
Property Features for 2310 West Belmont Avenue
General Information
Standard status
Active
Size
3,000 SF
Zoning
MULTI
Taxes and HOA fees
Annual Taxes
$30,000
Building Details
Year Built
1895
Stories
3
Listing Agency:
Century 21 Affiliated
(773) 983-1553
Listed By:
Mark Ahmad · License #471007186
(773) 983-1553
Source:
Compass
Added: Mar 23
Changed: Aug 29
Last Checked: Aug 31 at 12:10AM
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 Affiliated
Investment Insights
Based on property information with market context.
This mixed-use property contains four units, combining street-level office and retail space with residential accommodations on the second and third levels. The upper-floor units are described as having three bedrooms and two baths each, while a coach house occupies the rear of the property. Updates were completed in 2018, and the property carries MULTI zoning.
The property is located near Roscoe Village, North Center, and Lakeview, with access to multiple bus lines and public transit. Shops, bakeries, restaurants, festivals, and neighborhood entertainment are nearby, along with Fellger Park, Hamlin Park, a fieldhouse, pool, and sports facilities. Major-road access includes I-90/I-94, with Lincoln Avenue, Whole Foods, Jewel, Mariano's, and Costco also identified in the surrounding area.
The property is located near Roscoe Village, North Center, and Lakeview, with access to multiple bus lines and public transit. Shops, bakeries, restaurants, festivals, and neighborhood entertainment are nearby, along with Fellger Park, Hamlin Park, a fieldhouse, pool, and sports facilities. Major-road access includes I-90/I-94, with Lincoln Avenue, Whole Foods, Jewel, Mariano's, and Costco also identified in the surrounding area.
Key Highlights
- Four‑unit mixed‑use property with office/retail space and residential units
- Rear coach house included with the property
- Upper levels feature 3‑bedroom, 2‑bath units
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
$66,476
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
6.05%
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%
$1,329,520
$1.3M
Cap Rate 7%
$949,657
$949.7K
Cap Rate 9%
$738,622
$738.6K
Market Conditions
NOI Build-Up for 3,000 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
$115.6K $38.52/SF
− Vacancy
−$26.9K −$8.98/SF
EGI
$88.6K $29.54/SF
− OpEx
−$22.2K −$7.39/SF
NOI
$66.5K $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%
$1,329,520
Cap Rate 7%
$949,657
Cap Rate 9%
$738,622
Alternative Uses
Best Use
Office B
$949.7K
$831.0K – $1.11M
NOI $66,476 @ 7.0% cap · market cap 6.05%
Second Best
Mixed Use
$723.2K
$632.8K – $843.8K
NOI $50,625 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,753 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,301
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?
Mixed-use property - Street-level office and retail space is paired with upper-floor residential units and a rear coach house.
Where is this mixed-use property located?
The property is located at 2310 West Belmont Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Four‑unit mixed‑use property with office/retail space and residential units; Rear coach house included with the property; Upper levels feature 3‑bedroom, 2‑bath units
