Freestanding Mixed-Use
For Sale
$435,000
7817 West Belmont Avenue, Elmwood Park, IL 60707
Fully leased property combines a storefront with two residential apartments and separate utilities for each unit.
Property Size2,625 SF
Price / SF$165.71
Days on Market200
Property Features for 7817 West Belmont Avenue
General Information
Standard status
Active
Size
2,625 SF
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$8,628
Building Details
Year Built
1956
Stories
2
Listing Agency:
Realty Champions, Inc.
(708) 717-2388
Listed By:
Robert Obrzut · License #471002202
(708) 717-2388
Source:
Compass
Added: Feb 11
Changed: Aug 30
Last Checked: Aug 30 at 12:17AM
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 Realty Champions, Inc.
Investment Insights
Based on property information with market context.
Built in 1956, this freestanding brick property contains 2,625 square feet arranged as three leased units: one storefront and two apartments. The residential spaces include a two-bedroom apartment on the second floor and a one-bedroom apartment on the first floor. Separate utilities serve each unit, supporting distinct occupancy arrangements. The property is zoned COMMR and includes two dedicated rear parking spaces, with additional street parking available.
The building occupies 7817 West Belmont Avenue in Elmwood Park, Illinois, along Belmont Avenue. Its mix of commercial and residential space creates a compact configuration for an owner or investor seeking an occupied mixed-use asset.
The building occupies 7817 West Belmont Avenue in Elmwood Park, Illinois, along Belmont Avenue. Its mix of commercial and residential space creates a compact configuration for an owner or investor seeking an occupied mixed-use asset.
Key Highlights
- Three fully leased units: one storefront and two residential apartments
- 2,625‑square‑foot freestanding brick building constructed in 1956
- Residential layout includes one two‑bedroom and one one‑bedroom apartment
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
$36,316
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
8.35%
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%
$726,320
$726.3K
Cap Rate 7%
$518,800
$518.8K
Cap Rate 9%
$403,511
$403.5K
Market Conditions
NOI Build-Up for 2,625 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
$56.7K $21.60/SF
− Vacancy
−$4.8K −$1.84/SF
EGI
$51.9K $19.76/SF
− OpEx
−$15.6K −$5.93/SF
NOI
$36.3K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
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%
$726,320
Cap Rate 7%
$518,800
Cap Rate 9%
$403,511
Alternative Uses
Best Use
Mixed Use
$632.8K
$553.7K – $738.3K
NOI $44,297 @ 7.0% cap · market cap 10.18%
Second Best
Multifamily LT 5
$625.1K
$547.0K – $729.3K
NOI $43,758 @ 7.0% cap · market cap 10.06%
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,638 @ 7.0% cap · market cap 19.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Explore this area
Business Placement
Demographics for 60707, IL
43,241
Population
16,590
Households
2.6
Avg Household Size
41
Median Age
31%
College-Educated
86%
High-School Grad
3.6 sq mi
ZIP Area
12,011
Density / Sq Mi
$82,746
Median Household Income
$48,093
Median Earnings
$1,309
Median Rent
$315,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased property combines a storefront with two residential apartments and separate utilities for each unit.
Where is this mixed-use property located?
The property is located at 7817 West Belmont Avenue Elmwood Park, IL.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Three fully leased units: one storefront and two residential apartments; 2,625‑square‑foot freestanding brick building constructed in 1956; Residential layout includes one two‑bedroom and one one‑bedroom apartment
