1040 W Belmont Ave - Restaurant FOR SALE


Chicago, IL 60657- Lakeview
$2,350,000 USD
630-573-7015
1040 W Belmont Ave, Chicago, IL for Sale
$2,350,000 USD
Restaurant - FOR SALE
1/7
null | Request Cap Rate

1040 W Belmont Ave
Chicago, IL 60657
Lakeview


HIGHLIGHTS

  • SIGNIFICANT UPSIDE THROUGH REDEVELOPMENT
  • FUTURE USE FLEXIBILITY 
  • TRANSIT-ORIANTED LOCATION
  • URBAN INFILL LOCATION WITH STRONG DEMOGRAPHICS
  • BUSTLING NEIGHBORHOOD
  • NEARBY DEVELOPMENT MOMENTUM

OVERVIEW

CBRE is pleased to present to qualified investors the opportunity to acquire a 100% fee simple interest in 1040 W Belmont Avenue (The “Property”), located in Chicago, IL. The Property, currently occupied by Giordano’s with nearly two years left on the lease, presents a prime redevelopment opportunity in Chicago’s Lakeview Neighborhood. Future ownership has the unique ability to collect steady rental income from Giordano’s until their lease expiration while positioning the space for future redevelopment. Set amidst a dense and urban infill environment, the Property encompasses prime and irreplaceable real estate. This area is renowned for its vibrant community and proximity to key attractions such as Wrigley Field, the Apollo Theater, and Belmont Harbor. The Property is situated along the lively Belmont Avenue corridor, with over 17,000 vehicles passing the site daily. Further, the Property is just west of major arteries including Halsted Street and Clark Street, providing convenient access to consumers and connectivity to all neighborhoods of Chicago. The property is conveniently located 550 feet from the CTA Belmont train station, which services 2.2 million riders annually.

FOR SALE DETAILS

PRICE

$2,350,000 USD

PRICE/SF

$390 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1895

SPRINKLERS

-

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

B3-2

APN/PARCEL ID

14-20-423-037-0000

ASK ABOUT THIS PROPERTY

630-573-7015

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630-573-7015

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