Two-Story Storefront
For Sale
Under Contract
$1,550,000
3121 N Lincoln Avenue, Chicago, IL 60657
Commercial Sale, Chicago, IL
Property Size8,700 SF
Lot Size0.10 Acres
Price / SF$178.16
Days on Market348
Property Features for 3121 N Lincoln Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
RTAIL
Directions
Belmont to Lincoln Ave, South to 3121. Enter at double glass doors.
Subdivision
CHI - Lake View
Standard status
Active Under Contract
APN
14291000110000
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
56573
Utilities
Cooling system
Central Air, Ceiling Fan(s)
Building Details
Year built
1910
Floors in Building
2
Flooring type
Carpet, Wood
Building materials
Brick, Stucco, Stone, Combination
Listing Agency:
Baird & Warner
(773) 326-6500
Listed By:
Barbara O'Connor · License #471016838
(312) 265-8000
Added: Oct 27, 2025
Changed: Oct 8
Last Checked: Oct 9 at 8:06AM
MLS# 12504538
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.
Investment Insights
Based on property information with market context.
This two-story brick, stucco, and stone commercial building contains over 8,700 square feet, arranged across two floors of approximately 4,350 square feet each, with an unfinished basement. Large street-facing display windows, hardwood flooring, multiple offices, storage, and bathrooms on both floors form part of the interior. The upper level has locker rooms with showers and can be reached by an interior staircase or its own front entrance. The property is currently used for yoga, meditation, and martial arts instruction.
Located on Lincoln Avenue in Chicago, the building has two front entrances and two rear exits. Building systems include four HVAC units, four condensers, three electrical panels, and two hot water tanks. Reported improvements include tuckpointing in 2020, a sump pump installed in 2017, and reconstruction of the exterior back wall in 2009. The roof was replaced in 1996 and has received ongoing maintenance.
Located on Lincoln Avenue in Chicago, the building has two front entrances and two rear exits. Building systems include four HVAC units, four condensers, three electrical panels, and two hot water tanks. Reported improvements include tuckpointing in 2020, a sump pump installed in 2017, and reconstruction of the exterior back wall in 2009. The roof was replaced in 1996 and has received ongoing maintenance.
Key Highlights
- Over 8,700 square feet across two floors of approximately 4,350 square feet each
- 0.0999‑acre lot; full unfinished basement
- Upper floor has a separate front entrance and interior stair access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$120,363
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,407,260
$2.4M
Cap Rate 7%
$1,719,471
$1.7M
Cap Rate 9%
$1,337,367
$1.3M
Market Conditions
NOI Build-Up for 8,700 SF
Gross rent
$187.9K $21.60/SF
− Vacancy
−$16.0K −$1.84/SF
EGI
$171.9K $19.76/SF
− OpEx
−$51.6K −$5.93/SF
NOI
$120.4K $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%
$2,407,260
Cap Rate 7%
$1,719,471
Cap Rate 9%
$1,337,367
Alternative Uses
Best Use
Retail
$1.72M
$1.50M – $2.01M
NOI $120,363 @ 7.0% cap · market cap 7.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.10M
$3.59M – $4.79M
NOI $287,142 @ 7.0% cap · market cap 18.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,367
Businesses Nearby
339k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 35%
Dining 25%
Shops & Services 17%
Superstores 10%
Whole Foods Market
Groceries
64,387 visits/mo
0.2 miles
Jewel-Osco
Groceries
55,541 visits/mo
0.3 miles
McDonald's
Dining
36,369 visits/mo
0.4 miles
Target
Superstores
32,877 visits/mo
0.3 miles
Chase Bank
Shops & Services
12,865 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Storefront property - A separate front entrance serves the upper level, supporting a two-business layout.
Where is this storefront property located?
The property is located at 3121 N Lincoln Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Over 8,700 square feet across two floors of approximately 4,350 square feet each; 0.0999‑acre lot; full unfinished basement; Upper floor has a separate front entrance and interior stair access
