Retail
For Sale
Contact for pricing
3355 N LINCOLN AVE, Chicago, IL 60657
Retail space within a commercial property constructed in 2016.
Property Size10,817 SF
Price / SF$421.93
Days on Market16
Property Features for 3355 N LINCOLN AVE
General Information
Standard status
Active
Size
10,817 SF
Property subtype
Retail
Lease Type
Net
Net Operating Income
$330,897
Building Details
Year Built
2016
Stories
1
Units
2
Listing Agency:
Greenstone Partners
(312) 234-0360
Listed By:
Tom Galvin · License #IL 475181636
Source:
Crexi
Added: Jul 28
Changed: Aug 10
Last Checked: Aug 11 at 8:21AM
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 Greenstone Partners
Investment Insights
Based on property information with market context.
This retail property offers 10,817 square feet of commercial space in a building completed in 2016. The asset is located at 3355 N Lincoln Ave in Chicago, Illinois, providing a defined retail setting within the city.
Key Highlights
- 10,817 square feet of retail space
- Building completed in 2016
- Located at 3355 N Lincoln Ave, Chicago, IL
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
$149,651
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
3.28%
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%
$2,993,020
$3.0M
Cap Rate 7%
$2,137,871
$2.1M
Cap Rate 9%
$1,662,789
$1.7M
Market Conditions
NOI Build-Up for 10,817 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
$233.6K $21.60/SF
− Vacancy
−$19.9K −$1.84/SF
EGI
$213.8K $19.76/SF
− OpEx
−$64.1K −$5.93/SF
NOI
$149.7K $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%
$2,993,020
Cap Rate 7%
$2,137,871
Cap Rate 9%
$1,662,789
Alternative Uses
Best Use
Retail
$2.14M
$1.87M – $2.49M
NOI $149,651 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.10M
$4.46M – $5.95M
NOI $357,013 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,334
Businesses Nearby
329k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 39%
Shops & Services 26%
Superstores 10%
Apparel 9%
Whole Foods Market
Groceries
64,387 visits/mo
0.3 miles
Trader Joe's
Groceries
34,539 visits/mo
0.5 miles
Target
Superstores
32,877 visits/mo
0.2 miles
Pet Supplies Plus
Shops & Services
30,736 visits/mo
0.5 miles
Jewel-Osco
Groceries
30,208 visits/mo
0.5 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Retail space within a commercial property constructed in 2016.
Where is this retail space located?
The property is located at 3355 N LINCOLN AVE Chicago, IL.
What is the asking price?
The asking price for this property is $4,564,000.
What are key features of this property?
This property features: 10,817 square feet of retail space; Building completed in 2016; Located at 3355 N Lincoln Ave, Chicago, IL
