3740 N Lincoln Avenue
Chicago, IL 60613

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Description

Now reduced to 670k with an impressive 8.74 CAP. Perfect Armchair investment or 1031 exchange property. 3,100 sq feet of commercial space on bustling Lincoln Avenue divided into two individual storefronts. Established tenants since 2019 with newer 5 year leases until 2030. Unique property with over 130 ft of road frontage that allows for tremendous exposure and excess amounts of natural light in both spaces. Both spaces were 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 included in the price . Offered with a very attractive CAP rate and annual 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

Features

• Property Type: Commercial
• Sub Type: Retail/Stores
• Listing Status: Active Under Contract
• County/Area: Cook County
• Zip Code: 60613
• Year Built: 2006
• Sq.Ft.: 3,100 sq ft
• Stories: 4
• Units: 2 units
• Zoning: COMMR
• # Of Tenants: 2
• Additional Parcels: Yes
• Building Area Total: 3100
• Cap Rate: 8.74
• Construction Materials: Brick
• Cooling: Central Air, Central Individual
• Directions: Addison (3600N) to Lincoln (1800W) north to property.
• Electric: Service - 101 to 200 Amps
• Expense Year: 2026
• Fire Protection: Alarm On Site
• Flooring: Concrete, Other
• Foundation Details: Concrete Perimeter
• Gross Scheduled Income: 89970
• Heat/Ventilation: Forced Air, Gas
• Indoor Parking: Assigned Spaces
• Information: 24-Hr Notice Required, After Hours Only
• Investment (Y/N): Yes
• Known Encumbrances: None Known
• Leasable Area: 3100
• Leasable Area Units: Square Feet
• Location: Mixed Use Area
• Main Type: Commercial Sale
• Min Avail Sq Ft (Rentable): 3100
• Misc Inside: Accessible Entrance, Private Restroom/s
• Operating Expense: 31409
• Property Offered: For Sale Only
• Property Sub Type: Condominium
• Roof: Rubber
• Tax Annual Amount: 23090.65
• Tax Year: 2024
• Tenant Pays: Air Conditioning, Electricity, Heat
• Total Annual Expense Source: Actual
• Total Monthly Income: 7497
• Township: Lake View
• Unincorporated (Y/N): Yes
• Utilities: Electric to Site, Natural Gas Available, Water Available
• Water Source: Municipal Water