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Fully Leased Lincoln Square Building FOR SALE 1964 W Lawrence Ave 5,000 SF Retail Building Chicago, IL 60640 $849,000 ($169.80/SF) 7.92% Cap Rate
INVESTMENT HIGHLIGHTS
- Surrounded by new development including Devry's new $20M campus and tons of new, luxury residential units within blocks
- Recently Renovated Second level contains large 3BD/1BA apartment with rear outdoor patio
- Brand New, fully built out Bakery, located on Lawrence, just east of Damen
EXECUTIVE SUMMARY
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$86,725
|
$17.35
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$86,725
|
$17.35
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$19,506
|
$3.90
|
| Net Operating Income |
$67,219
|
$13.44
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $86,725 |
| Annual Per SF | $17.35 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $86,725 |
| Annual Per SF | $17.35 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $19,506 |
| Annual Per SF | $3.90 |
| Net Operating Income | |
|---|---|
| Annual | $67,219 |
| Annual Per SF | $13.44 |
PROPERTY FACTS
ABOUT 1964 W LAWRENCE AVE , CHICAGO, IL 60640
Surrounded by new development including Devry's new $20M campus and tons of new, luxury residential units within blocks. Located on Lawrence, just east of Damen. Fully leased Commercial space (3200 sf) with brand new five year lease. Existing kitchen has black iron, 16 ft. hood, two walk in coolers and large, old school pizza oven. Lots of space for storage and entire back room can be turned into a cooler for wholesale work or large prep. Large Front windows plus dining area includes two ADA bathrooms with double stalls. Recently Renovated Second level contains large 3BD/1BA apartment with long term tenants and rear outdoor patio. Building runs lot line to lot line. 0.2 Miles to the Damen Brown Line CTA Station, 0.2 Miles to the Ravenswood Metra Station, multiple bus stops and Divvy stations plus close access to Lake Shore Drive. Area tenants include: Goundswell Coffee Roasters, CVS, Wendy’s, Rock N Roll Vintage Chicago Guitar Shop, Band of Bohemia, Chase Bank, Mariano’s, Sears Auto Center and much more. Zoning – B1-2 2020 Taxes: $14,426 Alderman – Matthew Martin / 47th Ward
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $137,890 | |
| Land Assessment | $57,510 | Total Assessment | $195,400 |
PROPERTY TAXES
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Fully Leased Lincoln Square Building FOR SALE | 1964 W Lawrence Ave
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