Office Building on Large
For Sale
Contact for pricing
5834 W Belmont Ave, Chicago, IL 60634
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 Market829
Property Features for 5834 W Belmont Ave
General Information
Standard status
Active
Size
13,330 SF
Property subtype
OFFICE
Listing Agency:
Troy Companies
(847) 612-8716
Listed By:
Steve Cioromski
(847) 612-8716
Source:
Moodyscre
Added: May 6, 2024
Changed: Aug 12
Last Checked: Aug 12 at 11:38AM
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
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 = 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
$183,799
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
5.74%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,125
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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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)
