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    3921 W TOUHY Avenue Lincolnwood, IL 60712

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    Claim this Listing
    For Sale
    $1,200,000

    COMMERCIAL - Lincolnwood, IL

    Type:Retail
    Property size:
    4,800 SF
    Lot size:
    1.08 Acres
    Added:
    Sep 7, 2024
    Days on Market:
    590
    Last Refresh:
    Apr 19 at 9:06 am

    Property Features for 3921 W TOUHY Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    APN
    10351000360000
    Size
    4,800 SF
    Lot size
    1.08 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    30992

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1970
    Floors in Building
    1
    Number of units
    3

    We can help!

    Listing Contact
    Sang Han
    Sang Han

    Listing agent Sang Han License #475179051

    Listing office Platinum Partners Realtors 5200 Main Street, Downers Grove, IL

    Listing date Sep 7, 2024

    MLS# 12158047

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Lincolnwood Retail Strip Center Investment

    This fully leased retail strip center is located in a high-visibility, high-traffic corridor of Lincolnwood. The property, zoned B2, is 100% occupied with long-term tenants. The building features approximately 4,800 square feet of leasable space, configured as three 1,600 SF units. The location benefits from strong surrounding demographics, including approximately 15,000 residents within a 1-mile radius, nearly 300,000 within 3 miles, and over 800,000 within 5 miles. The average household income in the area exceeds $100,000. The property has been extensively updated, including a new roof, HVAC/AC systems, water heater, and electrical. The site offers 15+ parking spaces. The location supports a wide range of retail and service-oriented businesses. The property is situated on a 1.08-acre lot. The anticipated District 1860 mixed-use development, located 0.6 miles away at Touhy & Lincoln, is expected to enhance foot and vehicle traffic in the area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lincolnwood
    County
    McLean
    State
    Illinois
    Longitude
    -87.731
    Latitude
    42.0082

    Nearby Similar for Sale

    • $2,489,000

      Lincolnwood Commercial and Retail District

      Two-building commercial property in Lincolnwood's retail district.
      6731-6733 N Lincoln Avenue, Lincolnwood, IL 60712
      View Details
    • $1,200,000
      4,800 SF

      Prime Retail Opportunity in Lincolnwood

      Updated retail space in high-traffic Lincolnwood location.
      3921 W TOUHY Avenue, Lincolnwood, IL 60712
      View Details
    • $1,599,000
      14,503 SF

      Lincolnwood Multi-Tenant Office Flex Building

      Multi-tenant office flex building in a booming commercial area.
      6609 Lincoln Avenue, Lincolnwood, IL, USA, Lincolnwood, IL 60712
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    • $1,200,000
      4,800 SF

      Updated Retail Space in Lincolnwood

      Prime retail opportunity in high-traffic Lincolnwood location.
      3921 W Touhy Avenue, Lincolnwood, IL 60712
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    FAQs

    What type of property is this?
    Strip mall - Fully leased retail strip center in high-traffic Lincolnwood corridor.
    Where is this strip mall located?
    The property is located at 3921 W TOUHY Avenue Lincolnwood, IL.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: High 7.78% CAP rate provides immediate and reliable income.; Fully leased with long‑term tenants, ensuring a stabilized investment.; Located in a high‑visibility, high‑traffic area with strong demographics and high average household income.
    (630) 435-3500
    We can help!
    Listing Contact
    Sang Han
    Sang Han
    Real Estate License ID: 475179051
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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