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Mixed-Use

Gallo Square

2753 W Belmont Ave, Chicago, IL 60618

Listing Price: $5,150,000

Cap Rate
5.74%
Number of Units
15
Price/Unit
$343,333
Price/Gross SF
$274.87
Gross SF
18,736

Investment Overview

Marcus & Millichap is pleased to present Gallo Square, a contiguous mixed-use portfolio containing 23,501 square feet along the Intersection of Belmont Avenue, California Avenue & Elston Avenue in Chicago's Avondale neighborhood. The northwest Chicago neighborhood of Avondale is rich in working-class traditions and low-key charm. Its main borders are the north branch of the Chicago River, Diversey Avenue, Addison Street, Pulaski Road, and the Union Pacific/Northwest rail line. Its industrial character continues to evolve as long-time residents welcome the influx of artists, young professionals, and new families drawn to the area's affordable homes, easy access to downtown, and multicultural heritage.

The subject properties are located at 2747 West Belmont Avenue, 2751-2755 West Belmont Avenue / 3155-3159 North California Avenue / 3181-3183 North Elston Avenue & 3173 North Elston Avenue. In total this portfolio consists of nine apartment units (two studio, three one-bedroom units and four two-bedroom units) and seven ground-level commercial spaces (approximately 12,070 square feet of rentable space and approximately 400 square feet of frontage).

This portfolio presents a unique opportunity to purchase more than a half acre of improved land at the highly desirable intersection of Belmont Avenue, California Avenue & Elston Avenue. This intersection offers great street exposure and easy access to transportation via Interstate 94, CTA Buses and two CTA Blue-Line stops (Belmont & Addison). Investors looking for prime real estate on Chicago's northside in the heart of Avondale, should consider offering on this portfolio.

Investment Highlights

  • Unique Northside Chicago Opportunity
  • Corner Lot at Intersection of Three Major Thoroughfares - Approximately 23,501 SF
  • High Visibility Intersection with Approximately 50,000 Vehicles Per Day
  • Three Blocks from Interstate-94 & Easy Access to CTA Blue-Line
  • Currently Zoned M1-1

Exclusively Listed By

Listing Price: $5,150,000

Cap Rate
5.74%
Number of Units
15
Price/Unit
$343,333
Price/Gross SF
$274.87
Gross SF
18,736

Investment Highlights

  • Unique Northside Chicago Opportunity
  • Corner Lot at Intersection of Three Major Thoroughfares - Approximately 23,501 SF
  • High Visibility Intersection with Approximately 50,000 Vehicles Per Day
  • Three Blocks from Interstate-94 & Easy Access to CTA Blue-Line
  • Currently Zoned M1-1

Investment Overview

Marcus & Millichap is pleased to present Gallo Square, a contiguous mixed-use portfolio containing 23,501 square feet along the Intersection of Belmont Avenue, California Avenue & Elston Avenue in Chicago's Avondale neighborhood. The northwest Chicago neighborhood of Avondale is rich in working-class traditions and low-key charm. Its main borders are the north branch of the Chicago River, Diversey Avenue, Addison Street, Pulaski Road, and the Union Pacific/Northwest rail line. Its industrial character continues to evolve as long-time residents welcome the influx of artists, young professionals, and new families drawn to the area's affordable homes, easy access to downtown, and multicultural heritage.

The subject properties are located at 2747 West Belmont Avenue, 2751-2755 West Belmont Avenue / 3155-3159 North California Avenue / 3181-3183 North Elston Avenue & 3173 North Elston Avenue. In total this portfolio consists of nine apartment units (two studio, three one-bedroom units and four two-bedroom units) and seven ground-level commercial spaces (approximately 12,070 square feet of rentable space and approximately 400 square feet of frontage).

This portfolio presents a unique opportunity to purchase more than a half acre of improved land at the highly desirable intersection of Belmont Avenue, California Avenue & Elston Avenue. This intersection offers great street exposure and easy access to transportation via Interstate 94, CTA Buses and two CTA Blue-Line stops (Belmont & Addison). Investors looking for prime real estate on Chicago's northside in the heart of Avondale, should consider offering on this portfolio.

Exclusively Listed By

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