Belmont & Drake

Description:

KW Commercial is pleased to present the opportunity to acquire two fully leased retail condominium units located at 3523 & 3525 W Belmont Avenue in Chicago’s thriving Avondale neighborhood. Both storefronts are located in a professionally managed, 12-unit corner building with excellent visibility and exposure to approximately 21,000 vehicles per day. 3523 is occupied by a long-term tenant of over 10 years with a lease expiring in December 2025 and represents a near-term repositioning opportunity due to its below-market rent, while 3525 is recently renovated and leased through 2028 with a renewal option at market rate. Zoned C1-1, the units are well-suited for a wide variety of commercial uses including retail, food service, and office, making them highly adaptable for future tenants. The building is located just steps from the CTA Belmont Blue Line Station and minutes from I-90/94, surrounded by national retailers such as Walgreens, ALDI, Shell, Bank of America, and CIBC. The property benefits from an active association that manages significant maintenance responsibilities, reducing landlord operational involvement. Avondale continues to experience strong investor and tenant demand driven by new development, creative repositioning of commercial assets, and its strategic location within Chicago’s expanding urban core.


Why we love it

An under-the-radar dining and nightlife scene is putting all eyes on Avondale, an area that many predict will be the city’s next “it” neighborhood. But hurry — it won’t be under-the-radar for long.

Explore like a local


Grab a drink with the locals at Ludlow Liquors or Reed’s Local.
Order the Iron Maiden burger at Kuma’s Corner…while listening to Iron Maiden.
Swing by Sleeping Village for coffee in the morning and live music in the evening.


Insider tips

Avondale’s industrial roots give it an urban, down-to-earth feel, while an influx of young residents and cool restaurants are breathing fresh life into the neighborhood.

In Avondale, you’ll find an explosion of both cool and classic bars and eateries — pilgrimage-worthy beer bars, taprooms serving up award-winning beers, old-school karaoke bars, Old-World buffets, hole-in-the-wall hangouts where locals love to kick back, and more.

A few local favorites include Italian steakhouse Mirabella Italian Cuisine, farm-to-table eden, Cajun-Creole (and gluten free) CheSa’s Bistro & Bar, and classic barbecue joint Soul & Smoke.

Check out the neighborhood’s historic buildings, like St. Hyacinth Basilica (one of only three basilicas in the city). Grab some pints at the Revolution Brewing tap room, score your own game at retro Avondale Bowl, then catch a show at hip venue Sleeping Village.



Fully Leased Retail Condos in Prime Avondale Location: Two commercial units within a professionally managed 12-unit corner building with 21,000 VPD exposure.
Strong Tenant Profile & Lease Terms: 3523 is occupied by a long-term tenant (10+ years) with below-market rent expiring Dec. 2025; 3525 is recently renovated and leased through 2028 with a market-rate renewal option.
Strategic Zoning & Use Flexibility: Zoned C1-1, allowing for a wide range of commercial uses including retail, office, and food service.
Transit-Oriented Location: Steps from the CTA Belmont Blue Line Station and minutes to I-90/94, enhancing accessibility and tenant appeal.
Surrounded by National Retailers: Neighboring tenants include Walgreens, ALDI, Shell, Bank of America, and CIBC, supporting strong foot traffic and visibility.
Low Management Burden: Active condominium association handles significant building maintenance, reducing landlord responsibilities.