Mixed-Use 4-Unit
For Sale
$999,900
3716 Belmont Avenue, Chicago, IL 60618
Four-unit mixed-use property with two ground-floor live/work units and two residential apartments above.
Property Size3,304 SF
Price / SF$302.63
Days on Market414
Property Features for 3716 Belmont Avenue
General Information
Standard status
Active
Size
3,304 SF
Property subtype
Mixed Use
Additional Details
Cap Rate
6.67%
Taxes and HOA fees
Annual Taxes
$8,301
Amenities
Central Air
3
Building Details
Year Built
1914
Buildings
1
Tenancy
Multi
Listing Agency:
Jameson Sotheby's Intl Realty
(312) 751-0300
Listed By:
Mark Raffaelli · License #475143938
Source:
Xome
Added: Jul 9, 2025
Changed: Aug 25
Last Checked: Aug 26 at 6:43AM
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 Jameson Sotheby's Intl Realty
Investment Insights
Based on property information with market context.
This four-unit mixed-use building includes two live/work units on the ground floor and two residential apartments on the upper level. Quality updates have been completed within the past 10 years, supporting long-term ownership and rental stability.
The property is located at 3716 W Belmont Ave in Avondale and is offered for sale. The current offering cites a 6.67% cap rate.
The property is located at 3716 W Belmont Ave in Avondale and is offered for sale. The current offering cites a 6.67% cap rate.
Key Highlights
- 4‑unit mixed‑use building with two ground‑floor live/work units and two residential apartments above
- Quality updates completed within the past 10 years
- 6.67% cap rate provided in the remarks
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
$73,212
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
7.32%
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%
$1,464,240
$1.5M
Cap Rate 7%
$1,045,886
$1.0M
Cap Rate 9%
$813,467
$813.5K
Market Conditions
NOI Build-Up for 3,304 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
$127.3K $38.52/SF
− Vacancy
−$29.7K −$8.98/SF
EGI
$97.6K $29.54/SF
− OpEx
−$24.4K −$7.39/SF
NOI
$73.2K $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%
$1,464,240
Cap Rate 7%
$1,045,886
Cap Rate 9%
$813,467
Alternative Uses
Best Use
Office B
$1.05M
$915.2K – $1.22M
NOI $73,212 @ 7.0% cap · market cap 7.32%
Second Best
Mixed Use
$796.5K
$696.9K – $929.3K
NOI $55,755 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $101,051 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,138
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?
Live-work space - Four-unit mixed-use property with two ground-floor live/work units and two residential apartments above.
Where is this live-work space located?
The property is located at 3716 Belmont Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: 4‑unit mixed‑use building with two ground‑floor live/work units and two residential apartments above; Quality updates completed within the past 10 years; 6.67% cap rate provided in the remarks
