Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7880 Lincoln Avenue Skokie, IL 60077

    View on Map
    For Lease
    Contact for pricing

    COMMERCIAL - Skokie, IL

    Type:Office
    Property size:
    5,000 SF
    Lot size:
    0.14 Acres
    Added:
    Feb 7, 2025
    Days on Market:
    418
    Last Refresh:
    Apr 1 at 3:06 pm

    Property Features for 7880 Lincoln Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    COMMR
    Standard status
    Active
    Size
    5,000 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    TaxYear
    2023
    TaxAnnualAmount
    62820

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    2000
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Wood
    Building materials
    Stucco

    We can help!

    Listing Contact
    Mark Ahmad

    Listing agent Mark Ahmad

    Listing office Century 21 Circle 3372 W Devon Ave, Chicago, IL

    Listing date Feb 7, 2025

    MLS# 12278274

    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

    Mixed-Use Building in Skokie

    This mixed-use building, constructed in 2000, features an elevator and is located within walking distance of Skokie's downtown action and entertainment corridor at Oakton Street, Lincoln Avenue, and Niles Center Road. The property is near Chase Bank, Skokie Theater, Skokie Library, Village Hall, and Bank of America, as well as numerous restaurants and retailers. The building provides quick access to interstate I-90 and I-94, the Northwestern Suburbs, and O'Hare Airport. The minimum and maximum rentable space is approximately 2,500 square feet. The building is in great condition. The lot size is 0.1435 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jacob's Ceramic Studio, ... Dental Office

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Skokie
    County
    Cook
    State
    Illinois
    Longitude
    -87.7555479
    Latitude
    42.0242902

    Nearby Similar for Lease

    • Contact for pricing

      Skokie Warehouse Space Available

      Sublease warehouse space in Skokie's commercial corridor.
      7345 Lawndale Avenue, Skokie, IL 60076
      View Details
    • Sponsored
      Contact for pricing

      Old Orchard

      5250 Old Orchard Rd, Unit 300, Skokie, IL 60077
      View Details
    • $23/mo

      Skokie Office Building for Lease

      Multi-tenant office building with move-in ready suites available for lease.
      5301 Dempster St, Skokie, IL 60077
      View Details
    • $23/mo

      Skokie Office Building For Rent

      Multi-tenant office building with move-in ready suites in Skokie.
      5301 Dempster St, Skokie, IL 60077
      View Details
    • $26/mo

      Skokie Office Space For Rent

      Recently renovated office space in Skokie, move-in ready.
      7872 Lincoln Avenue, Skokie, IL 60077
      View Details
    • $16/mo

      Skokie Office Space For Rent

      Well-laid out office space with dedicated parking in Skokie.
      4115 Oakton St, Skokie, IL
      View Details
    • $30/mo

      Skokie Flex Space For Rent

      Open floor plan suitable for warehouse or office use.
      9144 Terminal Avenue, Skokie, IL 60077
      View Details
    • Contact for pricing

      Skokie Blvd Retail Space Available

      Retail spaces for lease in Skokie near Oakton CTA Station.
      8025 Skokie Blvd, Skokie, IL 60077
      View Details
    • $23/mo

      Skokie Office Space Available

      Office space for rent near I-94 and Skokie Swift.
      5301 Dempster St, Skokie, IL
      View Details
    • Contact for pricing

      Prime Retail Space in Skokie

      Commercial property for lease with high visibility and easy access.
      9300 Skokie Blvd, Skokie, IL 60077
      View Details
    • Contact for pricing

      Dempster Street Retail Space Available

      Retail space on Dempster Street with high visibility.
      3706 dempster Street B, Skokie, IL 60076
      View Details
    • $18/mo

      Skokie Office Space For Rent

      Office space with easy access to transportation and amenities.
      5215 Old Orchard Rd, Skokie, IL
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building near Skokie's downtown entertainment corridor.
    Where is this mixed-use property located?
    The property is located at 7880 Lincoln Avenue Skokie, IL.
    What are key features of this property?
    This property features: Prime location in Skokie's downtown entertainment corridor.; Mixed‑use building with elevator.; Quick access to I‑90 and I‑94, Northwestern Suburbs, and O'Hare Airport.
    (312) 513-4490
    We can help!
    Listing Contact
    Mark Ahmad
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!