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1342 W Belmont Ave 2,400 sq ft Retail Unit Offered at £611,889 in Chicago, IL 60657

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INVESTMENT HIGHLIGHTS

Tenant just renewed a 5-year lease.
Rare opportunity to own a 6.31% cap, prime retail condo in the heart of an affluent neibourhood.

Newly rehabbed space with high quality finishes, one parking included.
Open layout can suit for various business like restaurants, boba tea shops, coffee shops, medical offices, message stores and nails stores etc.

EXECUTIVE SUMMARY

This unit boasts a prime location situated at W Belmont Ave & N Southport Ave, just a couple of blocks away from the famous Lakeview 6 corners. It is a 7-minute walk to the train station (Red Line, Purple Line, and Brown Line). Surrounded by ample residential properties, many famous local restaurants, and grocery stores.

PROPERTY FACTS

Total Property Size	2,400 sq ft	Typical Floor Size	2,400 sq ft
Property Type	Office (Unit)	Year Built	1968
Property Subtype	Office / Residential General Retail Shopfront / Office	Tenancy	Single
Costar Property Class	C	Total Plot Size	0.13 ac
Floors	1	Parking Allocation	0.41/1,000 sq ft
Use Class	B3-3 - B3-3

Total Property Size	2,400 sq ft
Property Type	Office (Unit)
Property Subtype	Office / Residential General Retail Shopfront / Office
Costar Property Class	C
Floors	1
Typical Floor Size	2,400 sq ft
Year Built	1968
Tenancy	Single
Total Plot Size	0.13 ac
Parking Allocation	0.41/1,000 sq ft
Use Class	B3-3 - B3-3

Signage

1 UNIT AVAILABLE

Unit 1

Unit Size	2,400 sq ft	Sale Type	Investment
Price	£611,889	Net Initial Yield	6.31%
Price Per sq ft	£254.95	NOI	£38,623.03
Unit Use	Retail	No. Parking Spaces	1

Unit Size	2,400 sq ft
Price	£611,889
Price Per sq ft	£254.95
Unit Use	Retail
Sale Type	Investment
Net Initial Yield	6.31%
NOI	£38,623.03
No. Parking Spaces	1

DESCRIPTION

Featuring a spacious interior, nice white tiles on the floor, and other new finishes, this space is perfect for any retail use, including message business, hair salon, boba tea shops, coffee shops, offices, and more. The high foot traffic location and prime storefront visibility ensure that any business operating here will enjoy a steady stream of customers year-round.

SALE NOTES

This 6.31% CAP, 2,400 SF retail condo with one parking spot is located in the heart of Lakeview, one of the city's most sought-after neighborhoods. Fully gut rehabbed in 2019, a 5 year lease has been just renewed.

This unit boasts a prime location situated at W Belmont Ave & N Southport Ave, just a couple of blocks away from the famous Lakeview 6 corners. It is a 7-minute walk to the train station (Red Line, Purple Line, and Brown Line). Surrounded by ample residential properties, many famous local restaurants, and grocery stores.