4001 N Lincoln Avenue Chicago, IL
$ 3,000,000
Property Attributes
  • MLS#10681354
  • TypePending
  • CountyCOOK
  • CityChicago
  • AreaCHI - North Center
  • NeighborhoodNorth Center
  • Zip60618
  • StyleCommercial
  • Year Built2003
  • Taxes$ 105530
  • Price$ 3,000,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage9896
  • Lot Size9,896 SqFt
Listing Provided Courtesy Of:
The Lord Companies L.L.C.
Data Source:
Midwest Real Estate Data (MRED) - 103 - IL
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.

Price History
4/1/2020 Listed $3,200,000
7/20/2020 7% - $3,000,000

General Features

Additional Parcels Y/N Yes
City Chicago
Construction Materials Brick
Cooling Central Individual
County Cook
Current Use Commercial
Days on Market 343
Directions on E side of Lincoln at N corner of Lincoln-Damen-Irving Park intersection. Garage entry off Damen
Electric Circuit Breakers
Grossincome 435000
Leasable Area 9900
Lot Size Square Feet 9896
MLS Area CHI - North Center
Net Operating Income 275000
Operatingexpense 159000
Property SubType Neighborhood Storefront
Property Type Retail/Stores
Property Type Commercial Sale
Standard Status Pending
Status Pending
Stories 5
Street Name Lincoln
Tax Annual Amount 105530
Tax Year 2019
Tenant Pays Air Conditioning, Common Area Maintenance, Electricity, Heat, Janitorial Service, Taxes, Insurance, Repairs
Total Units 7
Township Lake View
Year Built 2003
Zoning COMMR

Interior Features

Street Suffix Avenue

Exterior Features

Building Area Total 9896
Buyerofficefax (312) 944-3759
Exterior Brick
Frontage Type City Street, Signal Intersection
Lot Dimensions 250' X 275' X 130'
Total Parking 13


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Pending Average in 60618

AVG $600K
AVG $11,414
AVG 75
Year Built
AVG 1959
AVG 88
Data Provided by Walkscore ® not using MLS data