Essex Realty Group, Inc. has been exclusively engaged to market for sale, Belmont & Kenmore @ 1024 West Belmont Avenue, located in the heart of Chicago’s popular Lakeview neighborhood, one block from the Belmont CTA station. The property consists of four oversized 1,600 SF 4 bedroom/2 bathroom apartments, and two occupied ground level retail spaces which total 2,625 SF.

MAJOR RENOVATION IN 2013
The building underwent an extensive renovation in 2013 including a new electric service, wiring and in-unit 100 AMP panels, new copper plumbing risers, individual HVAC, in-unit laundry and new kitchens & bathrooms.

OVERSIZED APARTMENTS ON A PRIME CORNER LOT
The spacious 1,600 SF apartments include large living rooms and generously sized bedrooms. The units all feature hardwood floors, decorative fireplaces, stainless steel appliances, granite counters, tiled bathrooms, individual HVAC, laundry in-unit and rear decks. Each unit receives a substantial amount of light due to the building’s location on the northeast corner of Belmont & Kenmore Avenues. Light cosmetic updates to each apartment would allow rents to be raised to market level.

SUCCESSFUL RETAIL WITH PARKING LOT
The two retail spaces are currently leased to Ancient Grounds Coffee Co. and Crystal Cleaners, both benefiting from the high foot traffic along Belmont Avenue. Ancient Grounds opened in 2022 serving great food & coffee and has been a successful addition to the neighborhood. Crystal Cleaners has occupied the corner space for decades and currently holds a lease until 2027 at $26 PSF (Gross). Nearby retail spaces have recently been leased for up to $45 PSF (NNN).

LOCATION
The property in prime Lakeview is in close proximity to the Belmont & Wellington “L” stations with quick access to the CTA Red, Brown & Purple Lines, along with several bus stops, offering tenants countless transportation options. The Chicago Cubs’ Wrigley Field is just four blocks away affording tenants quick access to games and Wrigleyville nightlife.

Lakeview is one of the most prominent areas in Chicago, located north of the Loop and bordering Lake Michigan. Its proximity to the City’s central business district combined with convenient access to public transportation has led to substantial residential and retail growth, which have been the driving forces in transforming the neighborhood into one of the foremost places to live in Chicago. Home to the Chicago Cubs and Wrigley Field, the country’s second oldest ballpark, the neighborhood is filled with restaurants, boutiques and small businesses making up the majority of tenants along retail corridors with major national tenants consistently moving in each year.

The property is located on the north side of Belmont Avenue, just east of Kenmore Avenue in Chicago’s Lakeview neighborhood. 1022-1024 West Belmont is less than two blocks from Southport Corridor, a popular street full of local charm featuring a wide variety of boutiques, salons & spas, and trendy restaurants & bars. The property is also conveniently steps to the Belmont CTA Station and four blocks to famous Wrigley Field & the Addison CTA Station, and in close proximity to numerous bus stops and Divvy bike stations.

• Four Oversized 1,600 SF 4 Bed/2 Bath Apartments; Currently Renting at $900/Room
• Apartments Feature Stainless Steel Appliances, Individual HVAC, Laundry In-Unit
• Building Underwent Extension Renovation in 2013 Including New Electric & Plumbing
• Both Retail Spaces Leased to Long Term Tenants
• Corner Retail Space Currently Rented at 60% of Market Value
• Steps to Belmont "L" Station & Multiple Bus Stops
• Four Blocks South of Wrigley Field & Clark Street Entertainment Options
• Attractive Financing Options Available, Please Inquire