3110 Belmont AveChicago, IL 60618

Property Details for 3110 Belmont Ave

Year built

1936

Lot size

0.07 AC

Property size (Sq ft)

1,200 SF

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

13-24-318-037

APU

1324318037

Description

This exceptional eight-unit mixed-use building, constructed in 2008, presents a compelling investment opportunity in Chicago's vibrant Avondale neighborhood. The property boasts 16,234 square feet and comprises six spacious, full-floor residential units. Each apartment offers approximately 2,000 square feet of living space, featuring three bedrooms, two bathrooms, fireplaces, granite countertops, stainless steel appliances, and private balconies. These high-end finishes cater to a discerning clientele. Adding to the property's income stream are two retail spaces currently leased to established medical tenants under long-term agreements, ensuring consistent rental revenue. The building is currently fully occupied, presenting a significant opportunity to increase rental income given several below-market leases. Further potential exists to enhance the property's value by adding rooftop decks, offering stunning downtown skyline views. Convenient amenities include indoor parking for six vehicles and an elevator, enhancing the appeal for both residents and tenants. The building's prime location provides easy access to the expressway and the CTA Blue Line, further increasing its desirability. This well-maintained brick building offers a rare blend of residential and commercial income, making it an ideal investment for discerning buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $447,913

  6.5%

  $413,458

  7%

  $383,925

• Comparable approach

  Method

  Valuation

  Relative Method

  $242,265

  Geo Method

  $242,265

• Alternative Use

  Use

  Valuation

  Residential

  $413,458

  Hospitality

  $378,725

  Educational

  $315,095

  Medical

  $325,931

  Retail

  $490,148

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9396

Longitude

-87.7058

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.