1342 Belmont AveChicago, IL 60657

Property Details for 1342 Belmont Ave

Property type

Office properties

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.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.94

Longitude

-87.663

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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