Skip To Content
    Return to Previous Page

    4001 Lincoln Avenue

    Chicago, IL 60618
    • $3,000,000
    • STATUS: Active
    • ON SITE: 172 days
    • MLS #: 10681354
    UPDATED: 66 min ago
    $3,000,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,896
      SQFT
    • $303
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    2003
    County:

    School Ratings & Info

    Description

    7 retail storefronts (3 commercial condos, 9,896 SF total) + 13-car commercial garage on ground floor of newer 5-story 39-unit mixed-use bldg at main intersection of Lincoln, Damen & Irving Park Rd in North Center. This is the most visible, highest quality construction, best positioned commercial space in this market with a strong mix of mostly long-term national and strong local tenants including Starbucks, Bank of America, Subway, Club Pilates, Ruby Nails, and 2 adjacent vacant spaces (one is a fully-fixtured former Hair Cuttery). There is a CMBS loan with an outstanding balance of ~$2.43 Million at 4.77% with 5+ years remaining on the term that must be assumed, so this could be purchased with 20% down generating a 9% CAP rate and a 15%+ ROI on cash over the next 4 yrs. This property is located at the main 6-corner intersection of Lincoln, Damen and Irving Park in North Center. It has outstanding access to all major transportation modes including CTA bus lines on all 3 intersecting streets, 2 blocks to the Irving Park Brown line subway station away, 1 mile to the Ravenswood Metra station and 2 miles to either Lake Shore Drive or the Kennedy Expressway. Nearby businesses include CVS, Wintrust Bank, MB Financial Bank, AT&T, T-mobile, Swedish Covenant Immediate Care, Chicago Title, and numerous neighborhood businesses.

    Monthly Payment Calculator



    © 2020 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or The Wexler Group. Based on information submitted to the MRED as of 2020-09-21T22:50:33.563 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
    www.thewexlergroup.com/homes/104737278
    Print Image

    4001 Lincoln Avenue Chicago, IL 60618

    • Price: $3,000,000
    • Status: Active
    • Updated: 66 min ago
    • MLS #: 10681354
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    9,896
    SQFT
    $303
    $/SQFT
    2003
    Built
    Neighborhood:
    Chi - North Center
    County:
    Cook
    Area:
    Chi - North Center
    Property Description
    7 retail storefronts (3 commercial condos, 9,896 SF total) + 13-car commercial garage on ground floor of newer 5-story 39-unit mixed-use bldg at main intersection of Lincoln, Damen & Irving Park Rd in North Center. This is the most visible, highest quality construction, best positioned commercial space in this market with a strong mix of mostly long-term national and strong local tenants including Starbucks, Bank of America, Subway, Club Pilates, Ruby Nails, and 2 adjacent vacant spaces (one is a fully-fixtured former Hair Cuttery). There is a CMBS loan with an outstanding balance of ~$2.43 Million at 4.77% with 5+ years remaining on the term that must be assumed, so this could be purchased with 20% down generating a 9% CAP rate and a 15%+ ROI on cash over the next 4 yrs. This property is located at the main 6-corner intersection of Lincoln, Damen and Irving Park in North Center. It has outstanding access to all major transportation modes including CTA bus lines on all 3 intersecting streets, 2 blocks to the Irving Park Brown line subway station away, 1 mile to the Ravenswood Metra station and 2 miles to either Lake Shore Drive or the Kennedy Expressway. Nearby businesses include CVS, Wintrust Bank, MB Financial Bank, AT&T, T-mobile, Swedish Covenant Immediate Care, Chicago Title, and numerous neighborhood businesses.
    Exterior Features

    Construction Brick Frontage Access City StreetSignal Intersection Location CornerPublic Transport AvailTif Zone Lot Dimensions 250' X 275' X 130' Lot Sq Ft 9896 Number Of Parking Spaces 13 Number Of TLDocks 0

    Interior Features

    Air Conditioning Central Individual Ceiling Height Ft 14 Fire Protection None Indoor Parking 13-18 SpacesAttachedHeatedSecured Miscellaneous Inside Multi-TenantOverhead Door/S Number Of Drive In Doors 1 Number Of Stories 5

    Property Features

    Current Use Commercial Electrical Service Circuit Breakers Expense Year 2020 Exterior Building Type Brick Extra Storage Spaces Available YN No Financial Amounts For Total Building Rental Onl Yes Gross Rental Income Amount 435000 Heat Ventilation Forced AirGas Investment YN Yes Max Avail Sq Ft Rentable 9900 Min Avail Sq Ft Rentable 9900 Net Oper Income Amount 275000 Net Operating Income Year 2020 Number Of Tenants 5 Property Offered For Sale Only Sale Terms Assumption-Conv Tax Year 2019 Taxes 105530 Tenant Pays Air ConditioningCommon Area MaintenanceElectricHeatJanitorialReal Property TaxesInsuranceRepairs And Maintenance Total Annual Exp 159000 Total Annual Expense Source Broker Projection Total Annual Income 435000 Total Monthly Income 36250 Township Lake View Unincorporated YN No Zoning Type Commr

    Listing information © 2020 Midwest Real Estate Data LLC.
    Listing provided courtesy of The Lord Companies L.L.C..


    © 2020 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or The Wexler Group. Based on information submitted to the MRED as of 2020-09-21T22:50:33.563 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
    https://bt-photos.global.ssl.fastly.net/mred/orig_boomver_1_10681354-2.jpg https://bt-photos.global.ssl.fastly.net/mred/orig_boomver_1_10681354-2.jpg https://bt-photos.global.ssl.fastly.net/mred/orig_boomver_1_10681354-2.jpg
    Logo
    The Wexler Group
    16123 S LaGrange Road
    Orland Park IL, 60467