for sale 2122 24 west belmont
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8/12/2019 For Sale 2122 24 West Belmont
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Two Roscoe VillageCommercial Condos
Susan B. SilverExecutive Vice President(312) 338 - [email protected]
Disclaimer: Millennium Properties R/E is the owners designated agent and makes no warranties or representations as to the accuracy or completeness of the information contained herein. The information
has been obtained sources deemed reliable; however, it is up to the purchaser to conduct due diligence prior to sale.
2122-24 W. Belmont Ave. | Chicago, IL
$ 385,000
BANKORDERS
SALE
Investment Highlights Two storefront commercial condos
2122: 1,190 SF vacant unit
Previously used as salon
2124: 1,497 SF leased
Lease expires March 31, 2015
Two 1-year renewal options
Tenant pays for all utilities Street-level in a recently developed
condo building
12 residential units, 4 commercial
Traffic Count: 16,500 vehicles per day
Zoning: C1-2
Monthly Assessments: $160.37
Est. 2013 Taxes: $12,603
Property Highlights
Built in 2007, these two commercial condostotaling 2,687 square feet, are highly visiblealong Belmont in Roscoe Village. Cur-rently, the 1,497 square foot unit is leasedto Dream Dinners through March 2015. The1,190 square foot storefront was previouslyused as a salon. This is a great opportu-nity to add value through leasing or for anowner to generate additional cash flow.
Area Highlights
These commercial condos are located on abusy stretch of Belmont Ave in Roscoe Vil-lage. A large number of single family homesin the area generate a substantial amountof pedestrian traffic.
http://www.mpirealestate.com/ -
8/12/2019 For Sale 2122 24 West Belmont
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Susan B. Silver(312) [email protected]
2122-24 W. Belmont Ave. | Chicago, IL $ 385,000
Disclaimer: Millennium Properties R/E is the owners designated agent and makes no warranties or representations as to the accuracy or completeness of the information contained herein. The information
has been obtained sources deemed reliable; however, it is up to the purchaser to conduct due diligence prior to sale.
Rent Roll
Unit Tenant Annual Rent SF Rent/SF Lease Exp. Comments
2124 Dream Dinners $29,940 1,497 $20.00 Mar-15 Two 1-year renewaloptions with 3% bumps
2122 Vacant* 1,190 n/a
Total/Average $29,940 2,687 $20.00
*Currently actively marketed at $20/SF NNN
Income Statement
IncomeProjected
2014 Est. 2015
Gross Rents $29,940 $30,838
Lease-Up $23,800
Total Gross Income $29,940 $54,638
Expenses
Property Taxes $12,603 $12,981
Maintenance* $1,000 $1,030
Assessments $1,924 $1,982
Insurance* $2,500 $2,575
Total Expenses $18,027 $18,568
Net Operating Income $11,913 $36,070
* Estimated
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8/12/2019 For Sale 2122 24 West Belmont
3/3
Susan B. Silver(312) [email protected]
2122-24 W. Belmont Ave. | Chicago, IL $ 385,000
Disclaimer: Millennium Properties R/E is the owners designated agent and makes no warranties or representations as to the accuracy or completeness of the information contained herein. The information
has been obtained sources deemed reliable; however, it is up to the purchaser to conduct due diligence prior to sale.
2122 Interior Photos
Main Salon Area Main Salon Area Alternate View
Shampoo Area Washroom/Changing Room
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