Mixed-Use Property with Two
For Sale
$3,950,000
6731-6733 N Lincoln Avenue, Lincolnwood, IL 60712
Commercial Sale, Lincolnwood, IL
Property Size10,500 SF
Lot Size0.34 Acres
Price / SF$376.19
Days on Market443
Property Features for 6731-6733 N Lincoln Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
Lincoln Ave. south of Pratt Ave. and north of Devon Ave. Between Devon Ave. and Pratt Ave.
Subdivision
Lincolnwood
Standard status
Active
APN
10353000150000
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
43486
Utilities
Cooling system
Central Air
Building Details
Year built
1965
Floors in Building
2
Building materials
Brick
Listing Agency:
Century 21 Circle · Coldwell Banker Real Estate
(773) 465-4200
Listed By:
Mark Ahmad · License #471007186
(312) 513-4490
Added: Jun 10, 2025
Changed: Aug 20
Last Checked: Aug 26 at 6:06AM
MLS# 12387904
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.
Investment Insights
Based on property information with market context.
This mixed-use commercial property includes two separate buildings on approximately 0.3444 acres. The larger structure is a two-story office building, while the adjoining one-story improvement provides retail and warehouse space. Parking is positioned both in front of and behind the buildings. The improvements were constructed in 1965 and feature brick construction with central air conditioning. The property is zoned COMMR.
The site occupies Lincoln Avenue in Lincolnwood’s commercial district, where residential, business, retail, and professional uses are concentrated. Access to I-90/I-94 and other major roads is available nearby, with downtown Chicago and O'Hare International Airport stated as approximately 15–20 minutes away. Existing office, retail, and warehouse functions can continue, and the property also offers a stated redevelopment option.
The site occupies Lincoln Avenue in Lincolnwood’s commercial district, where residential, business, retail, and professional uses are concentrated. Access to I-90/I-94 and other major roads is available nearby, with downtown Chicago and O'Hare International Airport stated as approximately 15–20 minutes away. Existing office, retail, and warehouse functions can continue, and the property also offers a stated redevelopment option.
Key Highlights
- Two‑building configuration with a 2‑story office building and adjacent 1‑story retail/warehouse building
- Approximately 0.3444 acres of land
- Front and rear parking areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$125,685
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,513,700
$2.5M
Cap Rate 7%
$1,795,500
$1.8M
Cap Rate 9%
$1,396,500
$1.4M
Market Conditions
NOI Build-Up for 10,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$220.5K $21.00/SF
− Vacancy
−$52.9K −$5.04/SF
EGI
$167.6K $15.96/SF
− OpEx
−$41.9K −$3.99/SF
NOI
$125.7K $11.97/SF
Area
McLean County, IL
Vacancy
24.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,513,700
Cap Rate 7%
$1,795,500
Cap Rate 9%
$1,396,500
Alternative Uses
Best Use
Office B
$1.80M
$1.57M – $2.09M
NOI $125,685 @ 7.0% cap · market cap 3.18%
Second Best
Mixed Use
$1.52M
$1.33M – $1.77M
NOI $106,313 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$2.19M
$1.92M – $2.55M
NOI $153,216 @ 7.0% cap · market cap 3.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,328
Businesses Nearby
Explore this area
Business Placement
Demographics for 60712, IL
13,463
Population
4,987
Households
2.7
Avg Household Size
46
Median Age
57%
College-Educated
93%
High-School Grad
2.7 sq mi
ZIP Area
4,986
Density / Sq Mi
$107,950
Median Household Income
$60,315
Median Earnings
$3,501
Median Rent
$475,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick improvements combine office, retail, and warehouse functions with front and rear parking.
Where is this mixed-use property located?
The property is located at 6731-6733 N Lincoln Avenue Lincolnwood, IL.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Two‑building configuration with a 2‑story office building and adjacent 1‑story retail/warehouse building; Approximately 0.3444 acres of land; Front and rear parking areas
