Renovated Restaurant and Banquet
For Sale
$999,000
5319 W Belmont Avenue, Chicago, IL 60641
Commercial Sale, Chicago, IL
Property Size5,300 SF
Lot Size0.14 Acres
Price / SF$188.49
Days on Market99
Property Features for 5319 W Belmont Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
COMMR
Directions
South on Pulaski Rd., West on Belmont Ave and continue to 5319
Subdivision
CHI - Belmont Cragin
Standard status
Active
APN
13281040120000
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
17962
Utilities
Cooling system
Central Air
Amenities
flat-screen televisions
Building Details
Year built
1925
Floors in Building
1
Building materials
Brick
Listing Agency:
Chicagoland Brokers Inc.
(773) 745-1000
Listed By:
Jessica Mueller
(847) 345-3350
Added: Jun 29
Changed: Aug 19
Last Checked: Oct 5 at 2:06PM
MLS# 12691669
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.
Investment Insights
Based on property information with market context.
This 5,300-square-foot restaurant and event facility at 5319 W Belmont Avenue has been renovated throughout, including new HVAC units, a flat roof, and upgraded electrical and plumbing systems. The layout includes event space, a commercial kitchen, an employee restroom, a four-stall women’s restroom, and a two-stall men’s restroom. Five flat-screen televisions, 25 tables, and approximately 130 chairs are included.
The kitchen is equipped for substantial food-service operations with a walk-in cooler, walk-in freezer, commercial stove, grill, deep fryer, exhaust fan, heating table, and dishwasher. China, tableware, and server ware are also part of the offering. The property includes five private rear parking spaces, public parking in front, and is zoned COMMR. Built in 1925, the brick building is served by central air.
The kitchen is equipped for substantial food-service operations with a walk-in cooler, walk-in freezer, commercial stove, grill, deep fryer, exhaust fan, heating table, and dishwasher. China, tableware, and server ware are also part of the offering. The property includes five private rear parking spaces, public parking in front, and is zoned COMMR. Built in 1925, the brick building is served by central air.
Key Highlights
- 5,300‑square‑foot renovated restaurant and event facility
- New HVAC units, flat roof, electrical, and plumbing systems
- Commercial kitchen with walk‑in cooler, freezer, stove, grill, deep fryer, and exhaust fan
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,236
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,720
$664.7K
Cap Rate 7%
$474,800
$474.8K
Cap Rate 9%
$369,289
$369.3K
Market Conditions
NOI Build-Up for 5,300 SF
Gross rent
$50.0K $9.43/SF
− Vacancy
−$2.5K −$0.47/SF
EGI
$47.5K $8.96/SF
− OpEx
−$14.2K −$2.69/SF
NOI
$33.2K $6.27/SF
Area
Chicago, IL
Vacancy
5.00%
Lease Rate
$9.43 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,720
Cap Rate 7%
$474,800
Cap Rate 9%
$369,289
Alternative Uses
Best Use
Specialty Retail
$1.41M
$1.23M – $1.64M
NOI $98,644 @ 7.0% cap · market cap 9.87%
Second Best
Industrial
$474.8K
$415.5K – $553.9K
NOI $33,236 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$2.50M
$2.19M – $2.92M
NOI $174,925 @ 7.0% cap · market cap 17.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,869
Businesses Nearby
77k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 56%
Shops & Services 37%
Electronics 7%
Tony's Fresh Market
Groceries
43,070 visits/mo
0.4 miles
Dollar Tree
Shops & Services
10,358 visits/mo
0.4 miles
Dollar General
Shops & Services
7,408 visits/mo
0.5 miles
Shell
Shops & Services
7,003 visits/mo
0.5 miles
EZPAWN
Shops & Services
3,301 visits/mo
0.2 miles
Demographics for 60641, IL
69,354
Population
27,377
Households
2.5
Avg Household Size
37
Median Age
36%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
17,339
Density / Sq Mi
$81,649
Median Household Income
$46,376
Median Earnings
$1,249
Median Rent
$373,200
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
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Flexible event venue with a high-capacity commercial kitchen and updated building systems.
Where is this conventional restaurant located?
The property is located at 5319 W Belmont Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 5,300‑square‑foot renovated restaurant and event facility; New HVAC units, flat roof, electrical, and plumbing systems; Commercial kitchen with walk‑in cooler, freezer, stove, grill, deep fryer, and exhaust fan
