1040 W Belmont Ave
6,022 SF Retail Building Chicago, IL 60657 $3,365,999 CAD ($558.95 CAD/SF)
INVESTMENT HIGHLIGHTS
- SIGNIFICANT UPSIDE THROUGH REDEVELOPMENT
- TRANSIT-ORIANTED LOCATION
- BUSTLING NEIGHBORHOOD
- FUTURE USE FLEXIBILITY
- URBAN INFILL LOCATION WITH STRONG DEMOGRAPHICS
- NEARBY DEVELOPMENT MOMENTUM
EXECUTIVE SUMMARY
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.
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.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
6,022 SF
Building Class
C
Year Built/Renovated
1895/1920
Price
$3,365,999 CAD
Price Per SF
$558.95 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.73
Lot Size
0.19 AC
Zoning
B3-2
Parking
5 Spaces (0.83 Spaces per 1,000 SF Leased)
Frontage
75’ on Belmont
AMENITIES
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Accommodation and Food Services
- -
- -
- -
Based in Chicago, Giordano’s has been serving its world famous pizza since 1974, when founders and immigrant brothers Efren and Joseph Boglio introduced their mother’s deep dish pizza recipe to Chicago. Becoming one of the originators of what is now internationally known as Chicago-style stuffed pizza, Giordano’s has many restaurant locations and is also available for shipping anywhere in the continental United States.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Accommodation and Food Services | - | - | - |
Walk Score®
Walker's Paradise (97)
Transit Score®
Excellent Transit (83)
Bike Score®
Very Bikeable (84)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 14-20-423-037-0000 | Improvements Assessment | $513,001 CAD |
| Land Assessment | $206,380 CAD | Total Assessment | $719,381 CAD |
