4100-4118 N Lincoln Ave
Chicago, IL 60618
North Center corner commercial condo · Multifamily Property For Sale · 72 Units

Leased 3,950 SF commercial condo with 4 deeded garage parking spaces on the ground floor of a newer 3+-story, 27 unit condo building. The space wraps around the corner with over 150' of street frontage and extensive full-height windows. The current tenant is a successful real estate brokerage office on a 5-year lease that commenced in August 2015. Current base rent is $116,352, current NOI is $59,629 (7.0% CAP rate) with 2% annual increases. Real estate taxes are under appeal which could reduce annual expenses by $12-$15,000/yr. High visibility corner at Lincoln and Belle Plaine Ave, just 2 blocks north of the 6-way intersection of Lincoln, Damen and Irving Park in North Center. This site has outstanding access to all major transportation modes with CTA bus lines less than 2 blocks away on Irving Park Road and Damen Avenue, 2 blocks to the Irving Park Brown line subway station, 1 mile to the Ravenswood Metra station and 2 miles to either Lake Shore Drive or the Kennedy Expressway. Nearby businesses include CVS, Jewel, MB Financial Bank, PNC Bank, US Bank, Wintrust Bank, Chicago Title, Swedish Covenant Urgent Care, Starbucks and numerous neighborhood restaurants and local businesses. The area also has several of the best public and private schools in Chicago which has drawn affluent young families that intend to stay in Chicago.