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5319 W Belmont Ave 5,300 SF 100% Leased Retail Building Chicago, IL 60641 $1,450,000 ($273.58/SF)
Investment Highlights
- High-Traffic Location: Situated on a primary thoroughfare, this property benefits from constant daily vehicle and pedestrian traffic.
- High-Demand Hub for Private Celebrations: This space is already a local favorite for birthday parties, milestones, and private gatherings.
- Superior Front-Facing Parking: Solve the #1 complaint of event guests before they even walk through the door.
Executive Summary
This premium investment opportunity presents a turnkey banquet hall and established business, including the underlying real estate. Spanning 5,300 square feet, the property has undergone an extensive renovation down to the studs to offer a refined, modern aesthetic throughout. The building infrastructure is entirely updated with all-new HVAC units, a brand-new flat roof, and upgraded electrical and plumbing systems. Designed for maximum versatility, the space is a staple for private parties and community events alike. The intelligent layout can be divided to accommodate two separate parties simultaneously, with both the front and rear sections of the venue featuring their own private wet bars. Guests will appreciate the contemporary styling, five flat-screen televisions, and elegantly designed facilities, including a dedicated employee bathroom, a four-stall women's restroom, and a two-stall men's restroom with all-new fixtures. While the venue is currently a sought-after destination for weekend rentals, significant upside potential exists to maximize profit. A new owner could expand operations by booking weekday events or utilizing the high-capacity commercial kitchen as a restaurant or "ghost kitchen" during non-event hours. The kitchen is fully prepared for high-volume operations, featuring a walk-in cooler, walk-in freezer, commercial stove, grill, deep fryer, and exhaust fan. Additional assets include a heating table, dishwasher, and a complete inventory of china, tableware, and server ware. The venue is move-in ready with 25 tables and approximately 130 chairs. Conveniently located, the property offers five private parking spaces at the rear with an abundance of public parking directly in front. With ongoing bookings already on the calendar, this is an exceptional chance to acquire a fully modernized facility designed for immediate and scalable success.
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
5,300 SF
Building Class
C
Year Built
1925
Price
$1,450,000
Price Per SF
$273.58
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.81
Lot Size
0.15 AC
Zoning
B3-1
Frontage
Amenities
- Restaurant
- Signage
- Air Conditioning
Walk Score®
Very Walkable (89)
Nearby Major Retailers
Property Taxes
| Parcel Number | 13-28-104-012-0000 | Improvements Assessment | $46,938 |
| Land Assessment | $39,063 | Total Assessment | $86,001 |
Property Taxes
Parcel Number
13-28-104-012-0000
Land Assessment
$39,063
Improvements Assessment
$46,938
Total Assessment
$86,001
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5319 W Belmont Ave
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