Office Building on Large
5834 W Belmont Ave, Chicago, IL 60634
For Sale
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Existing office building on a 1.3-acre site with 13,330 sq. ft. above-grade space and a full lower level.
Property Size13,330 SF
Price / SF$240.06
Days on Market923
Property Features for 5834 W Belmont Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Listing Agency:
Troy Companies
(773) 792-3000
Listed By:
Steve Cioromski · License IL #471022117
(847) 612-8716
Source:
Moodyscre
Added: May 6, 2024
Changed: Nov 11
Last Checked: Nov 12 at 7:57AM
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 Troy Companies
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Investment Insights
Based on property information with market context.
This existing office building is offered for sale and sits on a spacious 1.3-acre site. The property includes 13,330 sq. ft. of office building area, along with a full lower level that is not included in the stated square footage.
The seller’s remarks note flexibility for the future, including the possibility of renovating the existing building or pursuing redevelopment. In addition, the remarks describe potential for three to four freestanding retail pad sites in the same location.
Located at 5834 W Belmont Ave in Chicago, the property is presented as a development-oriented site with an existing office structure that can be adapted to new plans, subject to applicable approvals.
The seller’s remarks note flexibility for the future, including the possibility of renovating the existing building or pursuing redevelopment. In addition, the remarks describe potential for three to four freestanding retail pad sites in the same location.
Located at 5834 W Belmont Ave in Chicago, the property is presented as a development-oriented site with an existing office structure that can be adapted to new plans, subject to applicable approvals.
Key Highlights
- Existing office building on a 1.3‑acre site
- 13,330 sq. ft. above‑grade office building
- Full lower level included in the building layout (not included in the SF total)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$183,799
Cap Rate
5.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,675,980
$3.7M
Cap Rate 7%
$2,625,700
$2.6M
Cap Rate 9%
$2,042,211
$2.0M
Market Conditions
NOI Build-Up for 13,330 SF
Gross rent
$326.3K $24.48/SF
− Vacancy
−$81.3K −$6.10/SF
EGI
$245.1K $18.38/SF
− OpEx
−$61.3K −$4.60/SF
NOI
$183.8K $13.79/SF
Area
ZIP 60634
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,675,980
Cap Rate 7%
$2,625,700
Cap Rate 9%
$2,042,211
Alternative Uses
Best Use
Office B
$2.63M
$2.30M – $3.06M
NOI $183,799 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.63M
$3.18M – $4.24M
NOI $254,436 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,843
Businesses Nearby
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Business Placement
Demographics for 60634, IL
75,694
Population
29,344
Households
2.6
Avg Household Size
41
Median Age
27%
College-Educated
87%
High-School Grad
7.1 sq mi
ZIP Area
10,661
Density / Sq Mi
$84,997
Median Household Income
$46,694
Median Earnings
$1,271
Median Rent
$333,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Office buildings in Chicago
Vacancy Rate% for Office in Chicago, IL
Frequently Asked Questions
What type of property is this?
Office building - Existing office building on a 1.3-acre site with 13,330 sq. ft. above-grade space and a full lower level.
Where is this office building located?
The property is located at 5834 W Belmont Ave Chicago, IL.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Existing office building on a 1.3‑acre site; 13,330 sq. ft. above‑grade office building; Full lower level included in the building layout (not included in the SF total)
