3743 Belmont Ave Chicago, IL 60618
- Warehouses
- 13,000 SF
Current Use by Public Records
- Warehouses
Property Details for 3743 Belmont Ave
- Year built
- 1930
- Property size
- 13,000 SF
- Property type
- Warehouses
- Property subtype
- Retail properties
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.7214
- Latitude
- 41.9389
