4412 Belmont AveChicago, IL 60641

Property Details for 4412 Belmont Ave

Year built

1921

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.08 AC

Property size (Sq ft)

2,960 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

13-22-323-038

APU

1322323038

Description

This mixed-use, two-unit apartment building at 4412 W Belmont Ave in Chicago, IL, presents a compelling investment opportunity. The 3,000 square foot building, constructed in 1920, sits on a 3,360 square foot lot and is zoned C1-1, offering flexibility for various uses. Currently, the property has 50% occupancy, with two units available, each priced at $209,500. The building features a full basement, a newer roof and gutters, and a recently updated heating system. Additional amenities include a two-car garage and a spacious backyard. The asking price for this value-add investment is $419,000, translating to $139.67 per square foot. The property's location on Belmont Avenue in the Irving Park neighborhood provides excellent visibility and access to local amenities. The existing retail lease and vacant apartment unit offer immediate income potential and the opportunity to increase rental revenue through renovations and improved occupancy. This property is an ideal choice for owner-users or investors seeking a strong foundation for long-term growth in a desirable Chicago location. The Cook County Assessor's Parcel Number (APN) is 13-22-323-038-0000. The property's two stories provide ample space, and the building's solid foundation makes it a sound investment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,104,851

  6.5%

  $1,019,862

  7%

  $947,015

• Comparable approach

  Method

  Valuation

  Relative Method

  $597,587

  Geo Method

  $597,587

• Alternative Use

  Use

  Valuation

  Residential

  $1,019,862

  Hospitality

  $934,189

  Educational

  $777,234

  Medical

  $803,964

  Retail

  $1,209,030

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9392

Longitude

-87.7376

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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