$750,000
3740 N Lincoln Avenue Chicago, IL 60613
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$750,000
Est. payment /mo
3,100 SqFt
UPDATED:
08/17/2024 08:27 AM
Key Details
Property Type Commercial
Sub Type Retail/Stores
Listing Status Active
Purchase Type For Sale
Square Footage 3,100 sqft
Price per Sqft $241
MLS Listing ID 11953885
Year Built 2006
Annual Tax Amount $18,676
Tax Year 2022
Lot Dimensions 3112
Property Description
*Owner financing available @ 4.5% fixed for 5 years* Perfect Armchair investment or 1031 exchange property. 3,100 sq feet of commercial space on bustling Lincoln Avenue divided into two individual storefronts. Unique property with over 130 ft of road frontage that allows for tremendous exposure and excess amounts of natural light in both spaces. Established tenants already in place with options to renew in 2025. Gross rental income of $6,200/ month with both spaces built out in 2019-2020 with updated flooring, bathrooms, paint, etc. The building also had a new full tear-off roof installed in 2021. Management company already in place if new owner wishes to continue. There are also two deeded garage parking spaces that can be purchased with the space for an additional $25,000 each. Offered with a current CAP rate of 6.46%. Leases also have 3% rent escalations. Ideally situated just 1 mile west of Wrigley field and a six minute walk to Addison brown line. Please do not disturb or make any inquiries from current tenants. All inquiries should be made only to the listing broker
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling Central Air, Central Individual
Flooring Concrete, Other
Fireplace N
Exterior
Utilities Available Electric to Site, Gas to Site, Water-Municipal, Water to Site
View Y/N true
Roof Type Rubber
Building
Foundation Concrete Perimeter
Structure Type Brick
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Kieran Fahy • Fahy Real Estate Inc
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Rich Ayers
Team Lead | Realtor | License ID: 470112432
Team Lead | Realtor License ID: 470112432