December 2, 2022 – Ryan Link of Horvath & Tremblay has successfully completed the sale of 3044 W Belmont Avenue in Chicago, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $250,000.
3044 W Belmont Avenue is a redevelopment opportunity and is improved by a 4,200 square foot building on 3,000 square feet of land (0.07-acres). The Property is zoned C1-1 “Neighborhood Commercial District” which allows for more business types than B1 districts including retail storefronts, liquor stores, warehouses, and auto shops. Apartments are permitted above the ground floor. The Property is well located on W Belmont Avenue and is 500 feet from N Sacramento Avenue and just 0.2-miles from N Kedzie Avenue, three of the area’s primary retail corridors. National retailers driving traffic to the trade area include Jewel-Osco, Home Depot, ALDI, Target, CVS, Walgreens, Starbucks, Subway, Wendy’s, McDonald’s, Burger King, Portillo’s, Family Dollar, Dollar tree, and countless local bars and restaurants. The Belmont “L” Station on the CTA’s Blue Line is just 0.4-miles from the Property. The Chicago Transit Bus Route 77 stops at the intersection of W Belmont Avenue and N Albany Avenue adjacent to the Property. The property is approximately 0.2-miles from Interstate 90 & 94, and the Irving Park and Grayland Metra Stations, with service on the UP-Northwest line are approximately 2-miles away.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.