Home Details for 1150 W Belmont Avenue

This conveniently located mixed-use property in the heart of Lakeview offers a compelling opportunity for investors or owner-users seeking a true value-add asset in one of Chicago's most desirable neighborhoods. The building features two residential units and two street-level commercial storefronts, creating multiple income streams and clear long-term upside. The residential portion consists of two spacious 2-bedroom, 1-bath apartments, located on the second and third floors. Both residential units are currently vacant, allowing a new owner to renovate and lease immediately at market rates. Each unit offers a functional layout with a separate kitchen, formal dining room, generous living area, two well-sized bedrooms, and a full bath-a floor plan that continues to perform well in the rental market. The main level includes two street-facing commercial units with strong visibility. The former salon space is currently vacant, while the second commercial unit, currently occupied by a gym, provides income with flexibility for future use or repositioning. Both the commercial spaces and the residential units require updates, presenting an excellent opportunity to modernize the property, reposition the asset, and increase rents to current market levels. Any current or historical rental figures reflect prior, under-market rents and should not be considered representative of current market conditions or the income potential achievable following renovations and updates. Additional features include an unfinished basement, ideal for storage or potential build-out, along with a large rear yard, offering added value and flexibility. The location is a standout-steps from shopping, dining, entertainment, and public transportation, making it attractive to both residential and commercial tenants. With solid bones, immediate vacancy-driven upside, diversified income potential, and a premier Lakeview location, this property presents meaningful opportunity for a buyer focused on renovation and long-term returns.

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