Listing Agency: Colliers | Chicago Rosemont Show Phone

Listed By: Vern Schultz, SIOR Show Phone

Source: Moodyscre

Added: Oct 13, 2025 Changed: Oct 25 Last Checked: Nov 1 at 7:23AM

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Investment Insights

Based on property information with market context.

This property presents a unique investment opportunity in the highly desirable Lincoln Park area on Chicago’s Northside. Lincoln Park is recognized as a premier submarket in Chicago, characterized by high income levels. The building is well-maintained, with no deferred maintenance required. Tenants have occupied their spaces for over 5 years, with each business experiencing rewarding financial returns for the owners. The property size is 10500 square feet.

Key Highlights

• Located in Lincoln Park, Chicago's premier submarket with the highest income
• Investment asset with established, financially successful tenants
• Tenants have occupied their spaces for over 5 years

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$145,265

Cap Rate

7.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,905,300 $2.9M

Cap Rate 7%

$2,075,214 $2.1M

Cap Rate 9%

$1,614,056 $1.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,500 SF

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 Rate 5%

$2,905,300

Cap Rate 7%

$2,075,214

Cap Rate 9%

$1,614,056

Alternative Uses

Best Use

Retail

$2.08M

$1.82M – $2.42M (±1% cap)

NOI $145,265 @ 7.0% cap · market cap 7.85%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.95M

$4.33M – $5.78M (±1% cap)

NOI $346,550 @ 7.0% cap · market cap 18.73%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Food Market (Bike/Boat/Book/etc) Store Home Appliance Store Butcher Coworking & Hybrid Office Tattoo & Piercing Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

6,761

Businesses Nearby

142k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 50% Dining 32% Groceries 17% Apparel 1%

The Fresh Market Groceries

23,763 visits/mo 0.5 miles

Shell Shops & Services

14,072 visits/mo 0.1 miles

Chipotle Mexican Grill Dining

12,035 visits/mo 0.5 miles

Lou Malnati's Pizzeria Dining

11,245 visits/mo 0.3 miles

Mobil Shops & Services

10,234 visits/mo 0.4 miles

Market

Vacancy Rate% for Retail in Chicago, IL

9.1% 2019

9.2% 2020

8.8% 2021

8.1% 2022

7% 2023

6.6% 2024

7.4% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Storefront property - Investment property in Chicago's desirable Lincoln Park neighborhood.

Where is this storefront property located?

The property is located at 2768-2770 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, financially successful tenants; Tenants have occupied their spaces for over 5 years