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    3743 Belmont Ave Chicago, IL 60618

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    For Sale
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    Chicago Flex Warehouse, Value-Add Opportunity

    Property size:
    13,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 13,000-square-foot flex/warehouse building in Chicago's Avondale neighborhood presents a compelling value-add investment opportunity. Currently 51% occupied, generating an NOI of approximately $85,760, the property boasts a strong tenant, TTP Fitness, with a lease extending to June 2031, occupying 6,800 square feet. The building enjoys a prime location on Belmont Avenue, east of the intersection with Milwaukee Avenue, benefiting from high visibility and exposure to over 17,000 vehicles per day. Its convenient proximity to the Belmont Blue Line "L" station and Interstate 90/94 enhances its appeal. Features include nearly 14-foot ceilings, one loading dock, two drive-in doors, and a recently updated infrastructure, encompassing a new roof overlay, gas service, 400-amp 3-phase electrical service, and a new rooftop HVAC unit. The building is fully sprinklered. Surrounded by established retailers such as Aldi, Walgreens, CVS, and numerous national chains, this property offers significant potential for increased occupancy and revenue. The two units provide flexibility for future leasing strategies. This is an exceptional opportunity to acquire a well-located, income-producing asset in a thriving Chicago neighborhood.

    Property Features for 3743 Belmont Ave

    General Information

    Property type
    Distribution properties
    Square Feet
    13,000 SF

    Building Details

    Year Built
    1930
    Units
    2

    HighLights

    • $85,670 in‑place net operating income (NOI) with 51% occupancy; significant value‑add potential.
    • Excellent location on Belmont Avenue, approximately 0.5 miles from I‑90/I‑94.
    • Fully sprinklered building with new roof, gas service, 400‑amp 3‑phase electrical service, rooftop HVAC unit, and roll‑up garage doors (front and rear).
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7214438
    Latitude
    41.9389118

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    FAQs

    What type of property is this?
    Distribution property - Chicago Flex Warehouse, Value-Add Opportunity
    Where is this distribution property located?
    The property is located at 3743 Belmont Ave Chicago, IL.
    What are key features of this property?
    This property features: $85,670 in-place net operating income (NOI) with 51% occupancy; significant value-add potential.; Excellent location on Belmont Avenue, approximately 0.5 miles from I-90/I-94.; Fully sprinklered building with new roof, gas service, 400-amp 3-phase electrical service, rooftop HVAC unit, and roll-up garage doors (front and rear).
    Request Owner's contact information
    3743 Belmont Ave Chicago, IL 60618
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3743 Belmont Ave Chicago, IL 60618
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