Mixed-Use Property in Belmont
5037-39 W Diversey Avenue, Chicago, IL 60639
- Added:
- Mar 6, 2026
- Days on Market:
- 70
- Last Refresh:
- May 15 at 4:06 pm
Property Features for 5037-39 W Diversey Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- COMMR
- Standard status
- Active
- APN
- 13284010100000
- Size
- 4,200 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 16000
Utilities
- Utilities
- Natural Gas Available
- Cooling system
- Central Air
Building Details
- Year built
- 1962
- Floors in Building
- 2
- Number of units
- 5
- Building materials
- Brick
- Roof type
- Rubber
Listing agent Edgardo Guerrero License #475159071 (708) 655-5000
Listing office REMAX Legends 17W480 22ND ST, Oakbrook Terrace, IL (630) 216-8000
Listing date Mar 6, 2026
MLS# 12582578
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- High‑visibility location on Diversey Avenue in the Belmont Cragin community.
- Two buildings with approximately 4,200 sq ft of rentable commercial space and residential potential.
- Established income from a thriving restaurant (seats 70+) and two fully rented 2‑bedroom apartments.
- Fully equipped commercial kitchen with walk‑in coolers and ample storage.
- Spacious residential unit with three oversized bedrooms and abundant natural light.
- Rooftop decks and parking included.
Overview
This two-story mixed-use property is located on Diversey Avenue and LeClaire Avenue in Chicago's Belmont Cragin community. The property offers approximately 4,200 square feet of rentable commercial space across two buildings, combining established income, flexible commercial use, and residential potential. The first building features a high-traffic restaurant with seating for 70+ guests, a bar area, and a fully equipped commercial kitchen with walk-in coolers and ample storage. The flexible layout and multiple entrances provide potential for expansion or reconfiguration, making the space suitable for a restaurant concept, banquet hall, party venue, or other commercial venture. Above the restaurant, the second floor offers a residential unit with three oversized bedrooms, a large living room, formal dining room, eat-in kitchen, and laundry room. Additional features include a rooftop deck above the rear restaurant area and an attached garage/storage space. The second building includes a main-level commercial space adaptable for a variety of businesses or investment opportunities. The second floor features two rented 2-bedroom, 1-bath apartments, providing rental income. Residents also have access to a rear rooftop deck, along with parking for two vehicles on the rear parking pad. Located in a high-traffic corridor surrounded by retail, eateries, and neighborhood businesses, the property benefits from visibility and consistent foot and vehicle traffic. The property sits within a community known for household incomes and commercial activity. The lot size is 0.1435 acres.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$765.8K
NOI $68,919 @ 9.00% cap · cautious / downside scenario
Moderate
$984.6K
NOI $68,919 @ 7.00% cap · market / base-case scenario
Aggressive
$1.38M
NOI $68,919 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $98.3k | $23.40 |
| − Vacancy | −$6.4k | −$1.52 |
| EGI | $91.9k | $21.88 |
| − OpEx | −$23.0k | −$5.47 |
| NOI | $68.9k | $16.41 |
4,200 SF · lease $23.40/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$984.6K
$861.5K – $1.15M
NOI $68,919 @ 7.0% cap · market cap 7.74%
Second Best
Mixed Use
$931.5K
$815.1K – $1.09M
NOI $65,205 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$1.86M
$1.62M – $2.17M
NOI $129,992 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Conventional restaurants
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.7529592
- Latitude
- 41.9311948
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Two-story mixed-use property in Chicago's vibrant Belmont Cragin community.
Where is this mixed-use property located?
The property is located at 5037-39 W Diversey Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $889,900.
What are key features of this property?
This property features: High‑visibility location on Diversey Avenue in the Belmont Cragin community.; Two buildings with approximately 4,200 sq ft of rentable commercial space and residential potential.; Established income from a thriving restaurant (seats 70+) and two fully rented 2‑bedroom apartments.
