5319 W Belmont Ave - Retail FOR SALE


Chicago, IL 60641- Cragin
$1,450,000 USD
773-745-1000
5319 W Belmont Ave, Chicago, IL for Sale
$1,450,000 USD
Retail - FOR SALE
1/46
null | Request Cap Rate

NEW


5319 W Belmont Ave
Chicago, IL 60641
Cragin


HIGHLIGHTS

  • High-Traffic Location: Situated on a primary thoroughfare, this property benefits from constant daily vehicle and pedestrian traffic.
  • Superior Front-Facing Parking: Solve the #1 complaint of event guests before they even walk through the door.
  • High-Demand Hub for Private Celebrations: This space is already a local favorite for birthday parties, milestones, and private gatherings.

OVERVIEW

This premium investment opportunity presents a turnkey banquet hall and established business, including the underlying real estate. Spanning 5,300 square feet, the property has undergone an extensive renovation down to the studs to offer a refined, modern aesthetic throughout. The building infrastructure is entirely updated with all-new HVAC units, a brand-new flat roof, and upgraded electrical and plumbing systems. Designed for maximum versatility, the space is a staple for private parties and community events alike. The intelligent layout can be divided to accommodate two separate parties simultaneously, with both the front and rear sections of the venue featuring their own private wet bars. Guests will appreciate the contemporary styling, five flat-screen televisions, and elegantly designed facilities, including a dedicated employee bathroom, a four-stall women's restroom, and a two-stall men's restroom with all-new fixtures. While the venue is currently a sought-after destination for weekend rentals, significant upside potential exists to maximize profit. A new owner could expand operations by booking weekday events or utilizing the high-capacity commercial kitchen as a restaurant or "ghost kitchen" during non-event hours. The kitchen is fully prepared for high-volume operations, featuring a walk-in cooler, walk-in freezer, commercial stove, grill, deep fryer, and exhaust fan. Additional assets include a heating table, dishwasher, and a complete inventory of china, tableware, and server ware. The venue is move-in ready with 25 tables and approximately 130 chairs. Conveniently located, the property offers five private parking spaces at the rear with an abundance of public parking directly in front. With ongoing bookings already on the calendar, this is an exceptional chance to acquire a fully modernized facility designed for immediate and scalable success.

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$274 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Bar, Fast Food, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1925

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

B3-1

APN/PARCEL ID

13-28-104-012-0000

ASK ABOUT THIS PROPERTY

Jessica MuellerChicagoLand Brokers IncMore Info
773-745-1000

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Jessica MuellerChicagoLand Brokers IncMore Info
773-745-1000

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