5319 W Belmont Avenue
Chicago, IL, 60641 $ 1,300,000
Bedrooms-- Baths-- Sq 5,300 Monthly Estimate*
$ 8,004
for $1,300,000. This 5,300 square foot building was built on a lot size of 0.14348.
This premium investment opportunity presents a turnkey banquet hall/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. The intelligent layout can be divided to accommodate two separate parties simultaneously, with both the front and rear sections of the venue featuring their own private wet bars. 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.
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FeaturesGeneralCooling Central Air
Possession Closing
Tenant Pays Air Conditioning Common Area Maintenance Electricity Heat
Stories Count 1
Tax Year 2023
Business Type Other
County Cook
Operating Expense 29270
Property Type Business Opportunity Bus / Bus w/Real Est
Status Active
Directions South onto Pulaksi Rd West onto Belmont. Continue to 5319
City Chicago
MLS Area CHI - Belmont Cragin
Lot Size Square Feet 6250
Tax Annual Amount 17962
Additional Parcels Y/N N
Lease Type N/A
Standard Status Active
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ExteriorBuilding Area Total 5300
Lot Dimensions 51x132
Waterfront Y/N N
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* Excluded FeaturesList ByChicagoland Brokers Inc.Broker
jessicamuellerre@gmail.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $8,004
- Monthly Property Taxes
- $1,497
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCommerical listings in Chicago, IL
Average List Price $990,788
Percent of Sale Price 24%
About Chicago, IL 2,755,380 Population
-4% Since 2002
$ 53,088 Median Income
36.07 Median Age
25% Households with Children
Trends Information provided by ATTOM Data Solutions.
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 3/6/2026 | $1,300,000 | -10.34% | Price Down |
| 2/11/2026 | $1,450,000 | | Listed Price |