Building Details

Year Built 1957

Tenancy Multi

Listing Agency: Hometown Real Estate

Listed By: Nikki Mayer · License #471010465 Show Phone

Source: Saladinosells

Added: Aug 5 Changed: Oct 13 Last Checked: Oct 5 at 9:27PM

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Investment Insights

Based on property information with market context.

Built in 1957, this 4,000 SF mixed-use property contains two commercial spaces: one office unit and a second unit configured for restaurant or commercial kitchen use. Each space has individual utilities, providing separate service arrangements for the occupants. The property has existing long-term tenants and includes rear parking arranged as eight tandem spaces, along with street parking. Located on W Belmont Ave west of Overhill, the building is adjacent to public transportation in the Belmont commercial corridor. The property may also be acquired together with 7714 Belmont.

Key Highlights

• 4,000 SF mixed‑use property built in 1957
• Two commercial spaces: one office unit and one restaurant/commercial kitchen unit
• Individual utilities serve each space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$61,050

Cap Rate

8.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,221,000 $1.2M

Cap Rate 7%

$872,143 $872.1K

Cap Rate 9%

$678,333 $678.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,000 SF

Gross rent

$105.6K $26.40/SF

− Vacancy

−$7.9K −$1.98/SF

EGI

$97.7K $24.42/SF

− OpEx

−$36.6K −$9.16/SF

NOI

$61.1K $15.26/SF

Area

ZIP 60634

Vacancy

7.50%

Lease Rate

$26.40 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,221,000

Cap Rate 7%

$872,143

Cap Rate 9%

$678,333

Alternative Uses

Best Use

Specialty Retail

$1.01M

$883.6K – $1.18M (±1% cap)

NOI $70,686 @ 7.0% cap · market cap 9.42%

Second Best

Mixed Use

$872.1K

$763.1K – $1.02M (±1% cap)

NOI $61,050 @ 7.0% cap · market cap 8.14%

Theoretical Best

Office A

$1.09M

$954.4K – $1.27M (±1% cap)

NOI $76,350 @ 7.0% cap · market cap 10.18%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Commercial kitchens

Suggested Use

Top Pick Law Firm Food Market Grocery & Convenience Store Parking Lot & Garage Bakery Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Office units

Multi-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

752

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

17.9% 2019

19.2% 2020

20.7% 2021

23.1% 2022

23.3% 2023

25.1% 2024

25.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Combined office and restaurant uses with separate utilities and rear tandem parking.

Where is this mixed-use property located?

The property is located at 7710-12 W Belmont Ave Chicago, IL.

What is the asking price?

The asking price for this property is $749,999.

What are key features of this property?

This property features: 4,000 SF mixed‑use property built in 1957; Two commercial spaces: one office unit and one restaurant/commercial kitchen unit; Individual utilities serve each space