Neighborhood Storefront
For Sale
$250,000
2936 N Lincoln Avenue #1N, Chicago, IL 60657
Boutique-building commercial suite with a residential character near established neighborhood destinations.
Property Size945 SF
Price / SF$263.16
Days on Market68
Property Features for 2936 N Lincoln Avenue #1N
General Information
Standard status
Active
Size
945 SF
Property subtype
Commercial
Zoning
RTAIL
Taxes and HOA fees
Annual Taxes
$9,487
Building Details
Building Size
945 SF
Year Built
2006
Stories
5
Units
10
Listing Agency:
Keller Williams ONEChicago
(312) 216-2422
Listed By:
Dennis Huyck · License #475124186
(312) 216-2422
Source:
Perillorealestategroup
Added: Jun 22
Changed: Aug 27
Last Checked: Aug 28 at 11:31AM
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 Keller Williams ONEChicago
Investment Insights
Based on property information with market context.
The commercial space at 2936 N Lincoln Avenue, Unit 1N, provides 950 square feet within a boutique building completed in 2006. Its residential-style character supports a range of neighborhood-oriented business concepts, including wellness, therapy, yoga, consulting, creative studio, and small-scale retail uses identified for the space. Zoning is listed as RTAIL.
The property sits near the intersection of Lincoln Park and Lakeview in Chicago. Nearby destinations include Heritage Coffee and Bikes, the Athenaeum Theatre, Three Avenues Bookshop, and Farm Bar, placing the suite among established local businesses and community-oriented amenities.
The property sits near the intersection of Lincoln Park and Lakeview in Chicago. Nearby destinations include Heritage Coffee and Bikes, the Athenaeum Theatre, Three Avenues Bookshop, and Farm Bar, placing the suite among established local businesses and community-oriented amenities.
Key Highlights
- 950 SF commercial space in a boutique building
- 2006 construction
- Located at 2936 N Lincoln Avenue #1N, Chicago, IL 60657
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
$13,143
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
5.26%
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%
$262,860
$262.9K
Cap Rate 7%
$187,757
$187.8K
Cap Rate 9%
$146,033
$146.0K
Market Conditions
NOI Build-Up for 950 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
$20.5K $21.60/SF
− Vacancy
−$1.7K −$1.84/SF
EGI
$18.8K $19.76/SF
− OpEx
−$5.6K −$5.93/SF
NOI
$13.1K $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%
$262,860
Cap Rate 7%
$187,757
Cap Rate 9%
$146,033
Alternative Uses
Best Use
Retail
$187.8K
$164.3K – $219.1K
NOI $13,143 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$447.9K
$391.9K – $522.6K
NOI $31,355 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,493
Businesses Nearby
186k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Groceries 30%
Shops & Services 28%
Home Improvements & Furnishings 2%
Jewel-Osco
Groceries
55,541 visits/mo
0.4 miles
McDonald's
Dining
36,369 visits/mo
0.3 miles
Shell
Shops & Services
14,072 visits/mo
0.2 miles
Chipotle Mexican Grill
Dining
12,035 visits/mo
0.3 miles
Shell
Shops & Services
9,185 visits/mo
0.3 miles
Demographics for 60657, IL
72,316
Population
42,246
Households
1.7
Avg Household Size
32
Median Age
87%
College-Educated
99%
High-School Grad
2.2 sq mi
ZIP Area
32,871
Density / Sq Mi
$109,025
Median Household Income
$77,731
Median Earnings
$1,839
Median Rent
$534,500
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Boutique-building commercial suite with a residential character near established neighborhood destinations.
Where is this storefront property located?
The property is located at 2936 N Lincoln Avenue #1N Chicago, IL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 950 SF commercial space in a boutique building; 2006 construction; Located at 2936 N Lincoln Avenue #1N, Chicago, IL 60657
