Lincoln Park Investment
For Sale
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2766-70 N Lincoln Ave, Chicago, IL 60614
Investment asset in Chicago's desirable Lincoln Park neighborhood.
Property Size10,500 SF
Price / SF$176.19
Days on Market167
Property Features for 2766-70 N Lincoln Ave
General Information
Standard status
Active
Size
10,500 SF
Property subtype
Retail, Office
Net Operating Income
$139,385
Building Details
Tenancy
Multi
Listing Agency:
Colliers - Rosemont, Illinois
Listed By:
Vern Schultz · License #475066465
Source:
Crexi
Added: Mar 7
Changed: Aug 10
Last Checked: Aug 20 at 5:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers - Rosemont, Illinois
Investment Insights
Based on property information with market context.
This property presents a unique opportunity to acquire an investment asset in Lincoln Park, a highly desirable area on Chicago’s Northside. Lincoln Park is recognized as a premier submarket in Chicago, characterized by high income levels. The property size is 10500 square feet. Tenants have occupied their spaces for over 5 years, with each business experiencing rewarding financial returns for the owners. The building is well-maintained, with no deferred maintenance required.
Key Highlights
- Located in Lincoln Park, Chicago's premier submarket with the highest income.
- Investment asset with established tenants.
- Tenants have occupied their spaces for over 5 years, indicating successful businesses.
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
$145,265
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
7.85%
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%
$2,905,300
$2.9M
Cap Rate 7%
$2,075,214
$2.1M
Cap Rate 9%
$1,614,056
$1.6M
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
$226.8K $21.60/SF
− Vacancy
−$19.3K −$1.84/SF
EGI
$207.5K $19.76/SF
− OpEx
−$62.3K −$5.93/SF
NOI
$145.3K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$2,905,300
Cap Rate 7%
$2,075,214
Cap Rate 9%
$1,614,056
Alternative Uses
Best Use
Office B
$3.22M
$2.82M – $3.75M
NOI $225,288 @ 7.0% cap · market cap 12.18%
Second Best
Retail
$2.08M
$1.82M – $2.42M
NOI $145,265 @ 7.0% cap · market cap 7.85%
Theoretical Best
Office A
$4.95M
$4.33M – $5.78M
NOI $346,550 @ 7.0% cap · market cap 18.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,761
Businesses Nearby
Explore this area
Business Placement
Demographics for 60614, IL
73,173
Population
38,089
Households
1.9
Avg Household Size
31
Median Age
86%
College-Educated
98%
High-School Grad
3.2 sq mi
ZIP Area
22,867
Density / Sq Mi
$139,561
Median Household Income
$86,386
Median Earnings
$2,019
Median Rent
$730,700
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Investment asset in Chicago's desirable Lincoln Park neighborhood.
Where is this retail space located?
The property is located at 2766-70 N Lincoln Ave Chicago, IL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Located in Lincoln Park, Chicago's premier submarket with the highest income.; Investment asset with established tenants.; Tenants have occupied their spaces for over 5 years, indicating successful businesses.
