1020 W Belmont Ave - Storefront Retail/Residential FOR SALE


Chicago, IL 60657- Lakeview
$1,324,000 USD
630-485-8685
1020 W Belmont Ave, Chicago, IL for Sale
$1,324,000 USD
Storefront Retail/Residential - FOR SALE
1/2
null | 5.55% Cap Rate

1020 W Belmont Ave
Chicago, IL 60657
Lakeview


HIGHLIGHTS

  • Prime Lake View Location: Steps from CTA Belmont, Lake Michigan, Lincoln Park & Belmont’s Vibrant Retail and Dining Corridor
  • Three-Unit Mixed-Use: (1) Commercial Storefront and (2) 3-Bed/1-Bath Residential Units
  • Strong Commercial Tenancy in Place: Ground-Floor Space Leased Through 2030 (Plus Two 5-Year Options)
  • Significant Value-Add Opportunity

OVERVIEW

Rare opportunity to own a well-located, three-unit mixed-use building in the heart of Lake View, just steps from the CTA Belmont Red/Brown/Purple Line stop and a short walk to Wrigley Field. This property offers a unit mix of (1) ground-floor commercial storefront and (2) 3-bedroom/1-bath residential units, each approximately 1,200 SF. The property features central air, separate electric panels, common-area laundry, and two exterior parking spaces. The ground-floor commercial space is fully leased through 2030 to 404 Burgers | Barbecue, a fast-growing local operator offering durable, long-term income at the base of the investment. Current rent roll totals $9,000/month across all three units: the commercial unit at $3,200/month with 2% annual increases, and the two residential units at $2,900/month each (leases expiring 5/31/27 and 6/30/27), both currently renting below market with clear upside on renewal or turnover. Positioned directly on the bustling Belmont Avenue corridor, the property benefits from heavy year-round and game-day foot traffic tied to Wrigley Field and the surrounding Wrigleyville, North Halsted, and Lakeview East retail and nightlife districts, alongside easy access to the Lakefront Trail and Lincoln Park. With strong neighborhood demographics, this offering combines in-place income with meaningful upside for an investor looking to add a stabilized, transit-served asset to their portfolio.

FOR SALE DETAILS

PRICE

$1,324,000 USD

PRICE/SF

$315 USD /SF

CAP RATE

5.55%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1911

SPRINKLERS

-

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

B3-2

APN/PARCEL ID

14-20-424-020-0000

ASK ABOUT THIS PROPERTY

Quinn EvansEssex 312, LLCMore Info
630-485-8685

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Quinn EvansEssex 312, LLCMore Info
630-485-8685

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.