Two-Story Storefront
For Sale
$1,550,000
Pending
3121 N Lincoln Avenue, Chicago, IL 60657
Separate access to the upper level allows the floors to function as distinct business spaces.
Property Size8,700 SF
Days on Market9
Property Features for 3121 N Lincoln Avenue
General Information
Standard status
Pending
Size
8,700 SF
Property subtype
Retail/Stores
Zoning
RTAIL
Site & Location
Neighborhood
Lakeview
Additional Details
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$56,573
Amenities
bathrooms on both floors
locker rooms with showers
ample storage
multiple office spaces
Carpet,Wood
City Street,Alley Access
(312) 268-6440
FRONTAGE (ALONG LINCOLN): 50.1' DEPTH. SIDE LOT LINES: 88.8 FEET AND 92.5 FEET. REAR WIDTH: 37.1' AND 21.1'
8700
Building Details
Building Size
8,700 SF
Year Built
1910
Buildings
1
Stories
2
Construction
marble and brick
Listing Agency:
Baird & Warner
(708) 787-2808
Listed By:
Hiba Rashed
Source:
Kawashgroup
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 3:02PM
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 Baird & Warner
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Investment Insights
Based on property information with market context.
This two-story storefront building contains 8,700 square feet, with approximately 4,350 square feet on each floor, plus an unfinished basement. Large street-facing windows, hardwood floors, multiple offices, and storage areas are part of the interior. Both levels have bathrooms; the upper floor also includes locker rooms with showers. A staircase inside and a separate front entrance provide access to the second floor, and the building has two front entrances and two rear exits.
Located at 3121 N Lincoln Avenue in Chicago, the property has 50.1 feet of frontage along Lincoln Avenue. The building is currently used for yoga, meditation, and martial arts. Four HVAC units, three electrical panels, and two hot water tanks serve the property. Reported improvements include tuckpointing in 2020, a sump pump installed in 2017, and reconstruction of the exterior rear wall in 2009.
Located at 3121 N Lincoln Avenue in Chicago, the property has 50.1 feet of frontage along Lincoln Avenue. The building is currently used for yoga, meditation, and martial arts. Four HVAC units, three electrical panels, and two hot water tanks serve the property. Reported improvements include tuckpointing in 2020, a sump pump installed in 2017, and reconstruction of the exterior rear wall in 2009.
Key Highlights
- 8,700 square feet across two floors, plus a full unfinished basement
- Each floor spans approximately 4,350 square feet
- 50.1' of frontage along Lincoln Avenue
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.
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Property Analytics
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Open Analytics
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
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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 - Separate access to the upper level allows the floors to function as distinct business spaces.
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: 8,700 square feet across two floors, plus a full unfinished basement; Each floor spans approximately 4,350 square feet; 50.1' of frontage along Lincoln Avenue
