1622 W Belmont Avenue Chicago, IL 60657

Prime real estate for sale with multiple options for future owner. Currently leased at 6.5 CAP NNN where landlord is only responsible for structure. The tenant, Flagship, is in a lease effective through December of 2025 at below market rent of 6,500, which can be increased with a new tenant to proje...cted market rate of 40-45/sqft which increases rent rate to 8,933/mo NNN rent or 9 CAP rate. This property is perfect opportunity for owner operator looking to launch a bar or restaurant concept, investor looking to increase rent to market rate with a new tenant or a developer looking to take advantage of the desirable B1-3 zoning and a 3.0 FAR, which allows you to build a 9,744 Sf building. This free standing building offers 2,680 sf of fully turn-key restaurant space recently renovated. Black iron with 12' hood is in place. Walk-in cooler installed. Additional garage storage. Kitchen design is incredibly efficient and can accommodate any concept - from fast casual to fine dining. Hard to beat location, offering incredible visibility along one of Chicago's premier corridors. Reach out to listing broker for list of available FF&E being offered for sale by current tenant. Long running Tavern with full kitchen and in Lakeview just west of the 6 Corner Intersection of Belmont / Lincoln / Ashland. Retail Food Licenses, with a Sidewalk Cafe' Permit. Two sets of 10 tap handles on the very long bar. A retrofitted rear garage contains the refrigerated Glycol Draft System and all inventory. 2,680 SF. Internal Occupancy: 175 persons standing OR 145 persons seated; Sidewalk Permit 10-15 persons seated. 13+ feet of ceiling height. Assignable lease with options. Proof of Funds is Required Prior to Scheduling a Showing. DO NOT DISTURB EMPLOYEES Continue reading