Boutique Retail and Office
For Sale
$250,000
2936 N Lincoln Avenue #1N, Chicago, IL 60657
Ground-floor commercial suite in a boutique building on a neighborhood intersection, suited for retail, wellness, or creative use.
Property Size945 SF
Price / SF$264.55
Days on Market64
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:
Allinonerealestateco
Added: Jun 22
Changed: Aug 23
Last Checked: Aug 22 at 1:17PM
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.
This ground-floor commercial space is located within a boutique building and features a warm, residential feel. With a small, 950-square-foot layout, the suite is well suited for a variety of neighborhood-oriented concepts, including therapy or wellness practices, a small retail concept, a creative studio, or a consulting office.
The property is situated at the intersection of Lincoln Park and Lakeview, with nearby local businesses including Heritage Coffee and Bikes, Athenaeum Theatre, Three Avenues Bookshop, and Farm Bar. The surrounding mix of destinations supports consistent neighborhood activity.
Offered as a single suite, the space is designed to function as an approachable storefront-style environment while remaining flexible for office or studio-style uses.
The property is situated at the intersection of Lincoln Park and Lakeview, with nearby local businesses including Heritage Coffee and Bikes, Athenaeum Theatre, Three Avenues Bookshop, and Farm Bar. The surrounding mix of destinations supports consistent neighborhood activity.
Offered as a single suite, the space is designed to function as an approachable storefront-style environment while remaining flexible for office or studio-style uses.
Key Highlights
- 950 SF ground‑floor commercial suite in a boutique building
- Year built: 2006
- Located at the intersection of Lincoln Park and Lakeview in Chicago
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
$20,276
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
8.11%
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%
$405,520
$405.5K
Cap Rate 7%
$289,657
$289.7K
Cap Rate 9%
$225,289
$225.3K
Market Conditions
NOI Build-Up for 945 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
$36.3K $38.40/SF
− Vacancy
−$9.3K −$9.79/SF
EGI
$27.0K $28.61/SF
− OpEx
−$6.8K −$7.15/SF
NOI
$20.3K $21.46/SF
Area
Chicago, IL
Vacancy
25.50%
Lease Rate
$38.40 /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%
$405,520
Cap Rate 7%
$289,657
Cap Rate 9%
$225,289
Alternative Uses
Best Use
Office B
$289.7K
$253.5K – $337.9K
NOI $20,276 @ 7.0% cap · market cap 8.11%
Second Best
Retail
$186.8K
$163.4K – $217.9K
NOI $13,074 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$445.6K
$389.9K – $519.8K
NOI $31,190 @ 7.0% cap · market cap 12.48%
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
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Ground-floor commercial suite in a boutique building on a neighborhood intersection, suited for retail, wellness, or creative use.
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 ground‑floor commercial suite in a boutique building; Year built: 2006; Located at the intersection of Lincoln Park and Lakeview in Chicago
