Retail Space on a
For Sale
$899,999
7710-14 W Belmont Avenue, Chicago, IL 60634
Retail space on a corner with CTA access and a longtime tenant in place.
Property Size4,500 SF
Price / SF$199
Days on Market87
Property Features for 7710-14 W Belmont Avenue
General Information
Standard status
Active
Size
4,500 SF
Property subtype
COMMERCIAL
Building Details
Building Size
4,500 SF
Year Built
1957
Listing Agency:
Hometown Real Estate
(773) 870-2773
Listed By:
Nikki Mayer · License #471010465
Source:
Dawnmckennagroup
Added: May 19
Changed: Jul 30
Last Checked: Aug 12 at 2:15PM
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 Hometown Real Estate
Investment Insights
Based on property information with market context.
This retail space is located at 7710-14 W Belmont Avenue in Chicago, IL 60634, built in 1957. The property is described as having a longtime tenant, providing an occupied setting for retail or related uses.
The property is positioned at a corner with CTA access at the corner, supporting convenient public transit access for customers and employees.
The existing configuration is presented as suitable for multiple neighborhood-oriented business types, including stores, offices, personal services, restaurants, or medical building uses. With a total size of 4,500, it offers a compact footprint for an operator seeking a centrally located retail-oriented site.
The property is positioned at a corner with CTA access at the corner, supporting convenient public transit access for customers and employees.
The existing configuration is presented as suitable for multiple neighborhood-oriented business types, including stores, offices, personal services, restaurants, or medical building uses. With a total size of 4,500, it offers a compact footprint for an operator seeking a centrally located retail-oriented site.
Key Highlights
- Retail space total size 4,500
- Corner location with CTA at the corner
- Longtime tenant in place
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
$62,461
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
6.94%
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%
$1,249,220
$1.2M
Cap Rate 7%
$892,300
$892.3K
Cap Rate 9%
$694,011
$694.0K
Market Conditions
NOI Build-Up for 4,500 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
$97.2K $21.60/SF
− Vacancy
−$8.0K −$1.77/SF
EGI
$89.2K $19.83/SF
− OpEx
−$26.8K −$5.95/SF
NOI
$62.5K $13.88/SF
Area
ZIP 60634
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,249,220
Cap Rate 7%
$892,300
Cap Rate 9%
$694,011
Alternative Uses
Best Use
Retail
$892.3K
$780.8K – $1.04M
NOI $62,461 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,894 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space on a corner with CTA access and a longtime tenant in place.
Where is this retail space located?
The property is located at 7710-14 W Belmont Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: Retail space total size 4,500; Corner location with CTA at the corner; Longtime tenant in place
