1342 Belmont Ave Chicago, IL 60657
- Office Properties & Spaces
Current Use by Public Records
- Hirsh Bradley MD / Doctor
- vip nail spa / Beauty Salon
Property Details for 1342 Belmont Ave
- Property type
- Office Properties & Spaces
- APN
- 14-20-330-060-1001
- APU
- 14203300601001
Description
This exceptional investment opportunity presents a 2,400-square-foot retail storefront located at 1342 W Belmont Ave in Chicago's desirable Lakeview neighborhood. The property, a Class B building constructed in 1968 and fully renovated in 2019, boasts a 100% occupancy rate with a single tenant under a gross lease agreement. The current lease, with a franchisee tenant, extends until December 31, 2028, offering a remaining term of approximately 4.1 years. The property features a desirable open layout, suitable for a variety of retail uses, including but not limited to restaurants, coffee shops, or medical offices. High-quality finishes, including new white tile flooring, enhance the space's appeal. The asking price is $818,000, translating to a price per square foot of $340.83 and a compelling 6.31% capitalization rate based on a net operating income (NOI) of $51,633. Conveniently located near the intersection of W Belmont Ave and N Southport Ave, this property benefits from high foot traffic and excellent visibility. One parking space is included. The property is zoned B3-3 and features a single unit within a single building. This stabilized investment offers a rare opportunity to acquire a prime retail condo in a thriving, affluent neighborhood, with a recently renewed lease providing long-term income potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.663
- Latitude
- 41.94
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
