5319 W Belmont Avenue,Chicago, IL 60641
Chicago, IL 60641
Description
This premium investment opportunity presents a turnkey banquet hall or restaurant. 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. 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.
Details
| MLS # | 12691669 |
|---|---|
| Listing Type | For Sale |
| Style | Retail/stores |
| Sub-Type | Resale |
| Status | Active |
| Year | 1925 |
| Days On Site | 82 |
| Listing Provided By | Chicagoland Brokers Inc. | Jessica Mueller |
Features
| SQ Feet | 5,300 |
|---|---|
| Story(s) | 1 |
| Zoning | COMMR |
| Acreage | 0.15 |
Interior
| Cooling | Central Air |
|---|
Exterior
| Construction Materials | Brick |
|---|
Utilities
| Electric | Circuit Breakers |
|---|
Taxes
| Tax Year | 2023 |
|---|---|
| Tax Annual Amount | 17962 |
Area Information
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60641 |
| Area | CHI Belmont Cragin |
| Listing VS Median (in 60641) | |
Price: $999,000 low | high Med: $425,000 sqft: 5,300 low | high Med: 2,608 $ / sqft: $188 low | high Med: $163 On site: 82 low | high Med: 318 | |
Market Activity 60641
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Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60641 |
| Area | CHI Belmont Cragin |
| Listing VS Median (in 60641) | |
Price: $999,000 low | high Med: $425,000 sqft: 5,300 low | high Med: 2,608 $ / sqft: $188 low | high Med: $163 On site: 82 low | high Med: 318 | |
