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3743 W Belmont AveChicago, IL 60618
3743 W Belmont Ave
Asset ClassRetail, Industrial
Deal Size$1.63 M
% Leased: 51%Access Data Room
value-add retail / flex industrial
overview of deal

Overview

Greenstone Partners, as the Exclusive Investment Advisor, is pleased to present the opportunity to acquire the 100% fee-simple interest at 3743 W. Belmont Avenue (the “Property”), a ±13,232 square foot retail / flex-industrial investment positioned in Chicago’s Avondale neighborhood.

 

The Property presents a new investor with a compelling value-add opportunity. 51% of the Property is occupied by Chicago Strength, a local fitness tenant operating on a ‘Net’ lease with 4.6 years remaining. Chicago Strength invested more than $325,000 into their space, reinforcing their stickiness as a tenant at this location. The remaining 6,500 square feet of vacant retail / flex-industrial space provides a new investor with significant upside and the optionality to occupy the space as an owner-user. The vacant space is versatile in use and can be built out to accommodate a wide range of users, including retail, showroom, pet care, light flex / last-mile operations, and other creative flex concepts.

 

The Property is located in Avondale, an emerging neighborhood on Chicago’s northwest side, in the heart of a dense retail corridor home to national retailers including McDonald’s, Dunkin’, Taco Bell, Wendy’s, Burger King, Walgreens, and AT&T. The Property benefits from its position on Belmont Avenue, a highly visible thoroughfare with 20,100 VPD. Avondale has been undergoing a transformation as the lack of

housing pushes residents further away from Chicago’s urban core. New developments include the approved 105-unit development at 3265 N California Avenue, the approved 10-unit mixed-use project at 3122 W Belmont Avenue, and the proposed 24-unit mixeduse

development at 2955 W Belmont Avenue.

 

The Property benefits from its location in a densely populated urban setting, with more than 48,500 living within 1 mile of the site. The CTA Blue Line ‘L’ station at Belmont Avenue is just 0.5 miles from the Property and multiple CTA bus routes are withinwalking distance. The Kennedy Expressway is 0.6 miles east of the Property, providing

seamless connectivity to the rest of the city.

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Investment Highlights

⦿ STABLE IN-PLACE INCOME WITH SIGNIFICANT VALUE-ADD UPSIDE

 

⦿ OWNER-USER OPPORTUNITY

 

⦿ HIGHLY FUNCTIONAL RETAIL / FLEX BUILDING

 

⦿ PREMIER URBAN INFILL LOCATION

 

⦿ EMERGING AVONDALE LOCATION WITH

CONTINUED NORTHWEST SIDE MOMENTUM

 

⦿ EXCEPTIONAL TRANSIT AND CONNECTIVITY

 

⦿ DENSE URBAN INFILL DEMOGRAPHICS

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3743 W Belmont AveChicago, IL 60618
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