Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    907 Belmont Ave Chicago, IL 60657

    • Restaurants
    • 16,000 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Big CockChicken / Fast Food Restaurant / Chicken Restaurant
    • Philly's Best / Fast Food Restaurant / American Restaurant

    Property Details for 907 Belmont Ave

    Property size
    16,000 SF
    Property type
    Restaurants

    Description

    This exceptional restaurant space, located at 907 W Belmont Ave in Chicago's vibrant Lakeview neighborhood, offers 2,800 square feet of prime commercial real estate. Situated on a bustling pedestrian thoroughfare, this property boasts a highly desirable location with excellent visibility and foot traffic. The building itself totals 16,000 square feet and is currently configured for multiple tenancies, presenting a unique opportunity for expansion or collaboration. The property includes one parking space, a valuable asset in this densely populated area. Annual property taxes are calculated at $8.16 per square foot. This location is ideal for a variety of restaurant concepts, capitalizing on the high density of residents and businesses in the immediate vicinity. The address is 907 West Belmont Avenue, Chicago, Illinois, 60657. The property's prime location within the Lakeview submarket of Chicago offers unparalleled access to a diverse and affluent customer base. This is a rare chance to secure a well-positioned restaurant space in one of Chicago's most sought-after neighborhoods. The property's size and location make it an attractive investment for both established and emerging restaurant operators. Don't miss this opportunity to establish your business in a thriving and dynamic area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6518
    Latitude
    41.9398

    Comparable in this City

    • Value Estimation by Request

      706 Diversey Pkwy

      Restaurants
      706 Diversey Pkwy, Chicago, IL 60657
      View Details
    • Value Estimation by Request
      310,000 SF

      3460 Broadway St

      Restaurants • 310,000 SF
      3460 Broadway St, Chicago, IL 60657
      View Details
    • Value Estimation by Request
      13,500 SF

      3020 Lincoln Ave

      Restaurants • 13,500 SF
      3020 Lincoln Ave, Chicago, IL 60657
      View Details
    • Value Estimation by Request

      1138 Belmont Ave

      Restaurants
      1138 Belmont Ave, Chicago, IL 60657
      View Details
    • Value Estimation
      $260,000
      0.19 Acres

      509 Roscoe St, Unit P4

      RESIDENTIAL PARKING GARAGE • 0.19 Acres
      509 Roscoe St, Chicago, IL 60657-3542
      View Details
    • Value Estimation
      $260,000
      0.20 Acres

      643 Barry Ave, Unit P-6

      RESIDENTIAL PARKING GARAGE • 0.20 Acres
      643 Barry Ave, Chicago, IL 60657-4524
      View Details

    Similar Nearby for Sale

    • $11,000,000
      15,239 SF

      Wrigleyville Mixed-Use Investment Opportunity

      Mixed-use property near Wrigley Field with hotel and brewery.
      3475 North Clark St, Chicago, IL 60657
      View Details
    • Contact for pricing
      25,830 SF

      East Lakeview Retail Space Available

      881 SF retail space in vibrant East Lakeview neighborhood.
      3401-09 N Broadway St, Chicago, IL 60657
      View Details
    • $888,000
      2,500 SF

      Prime Retail Condo For Sale

      Retail condo with high visibility in an affluent neighborhood.
      3347 N Clark St, Chicago, IL 60657
      View Details
    • $11,000,000
      15,239 SF

      Boutique Hotel Near Wrigley Field

      21-room hotel with retail, patio, and rooftop deck.
      3473-3477 N Clark St, Chicago, IL 60657
      View Details
    • Contact for pricing
      5,325 SF

      Lakeview Mixed-Use Building with Nightclub

      Mixed-use building with nightclub and two apartments in Lakeview.
      2871 North Lincoln Ave, Chicago, IL 60657
      View Details
    • $179,000

      Turnkey Boba Tea Shop Opportunity

      Fully equipped boba tea shop ready for immediate operation.
      3304 N Broadway St, Chicago, IL 60657
      View Details

    Similar Nearby for Lease

    • $38 SF/Yr
      310,000 SF

      Lakeview Retail Space for Lease

      Prime Lakeview storefront, divisible units.
      3460 Broadway St, Chicago, IL 60657
      View Details
    • $35 SF/Yr
      3,071 SF

      Lakeview Retail Spaces Available

      New Chicago retail spaces, prime location.
      1138 Belmont Ave, Chicago, IL 60657
      View Details
    • $45 SF/Yr

      Lakeview East Retail Space Available

      New construction retail space in a high-traffic, walkable area.
      3160 N Broadway St, Chicago, IL 60657
      View Details
    • Contact for pricing
      44,959 SF

      Retail Space in Anchored Center

      Retail, restaurant, or medical office space in high-traffic location.
      5630 W Belmont Ave, Chicago, IL 60657
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space on Belmont Avenue

      Retail space suitable for animal-related businesses with high foot traffic.
      2227 W Belmont Ave, Chicago, IL 60657
      View Details
    • Contact for pricing
      3,125 SF

      Restaurant Space with Outdoor Patio

      Restaurant space featuring a large, enclosed, covered outdoor patio.
      1232 W Belmont Ave, Chicago, IL 60657
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    907 Belmont Ave
    Chicago, IL 60657
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.