Retail•Street Retail•For Sale or Lease

2940 N Lincoln - Three Unit Commercial Building

2940 N. Lincoln Avenue, Chicago, Illinois 60657

Sale Price $1,150,000
Lease Rate $22.50 /SqFt MG
Zoning B3-5
Bldg Type Multi-Tenant
Year Renovated 2012
Cap Rate 5.93%
Vacancy 66%
Gross Bldg 5,500 SqFt
Total Avail 2,020 SqFt
Avail 2,020 to 0 SqFt
Land Area .07 Acres
Net Op Inc $68,194.67
Market Chicago
Sub-Market Lakeview
Excellent opportunity for owner-occupant! Three-unit property on Lincoln Avenue in Lakeview - all spaces are commercial. Property was extensively rehabbed in 2014 - all major components. 2nd and 3rd floor are occupied, first floor is currently for lease for $22.50/SF modified gross. Tenants pay electric & gas; landlord pays water/sewer, insurance, real estate taxes, common repairs & maintenance, and common electric. Additional income through parking ($325/month leased to 3rd floor tenant) and three basement storage units (one leased for $200/month; two others currently vacant). First floor 2,020 SF previous gym space for lease on Lincoln. High ceilings, hardwood throughout. Move-in ready. Storage available in basement. Tenants pay pro rata electric, gas, and monthly rent. ~2,600 SF 2nd floor tenant's lease expires 1/31/20. Top floor ~900 SF office tenant occupies until 9/2021. Building is also available for sale. Lincoln Avenue, between Wellington Avenue and Diversey Parkway in Lakeview.

1 Spaces

Street Retail
2,020 SqFt
$22.50 MG
1
1
Former gym. Hardwood floors and high ceiling clearance. Basement storage.
10/23/2019 6:37:07 PM 7/31/2020 7:38:26 PM
Gene Hart
Investment Sales and Leasing Broker
33 Realty
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