Three-Unit Retail Strip
3921 W TOUHY Avenue, Lincolnwood, IL 60712
For Sale
$1,200,000
Commercial Sale, Lincolnwood, IL
Property Size4,800 SF
Lot Size1.08 Acres
Price / SF$250
Days on Market795
Property Features for 3921 W TOUHY Avenue
General Information
Property type
Property subtype
Directions
Subdivision
Standard status
APN
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Cooling system
Building Details
Year built
Floors in Building
Number of units
Listing Agency:
Platinum Partners Realtors
Listed By:
Sang Han · License IL #475179051
(630) 435-3500
Added: Sep 7, 2024
Changed: Oct 1
Last Checked: Nov 10 at 12:06PM
MLS# 12158047
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.
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Investment Insights
Based on property information with market context.
This 1970 retail strip center contains approximately 4,800 square feet of leasable area, divided into three 1,600-square-foot units. All three units are occupied by long-term tenants, and the property is zoned B2. Recent improvements include a new roof, HVAC/AC systems, water heater, and electrical components. Central air serves the building, and the site includes 15+ parking spaces on 1.08 acres.
The property is at 3921 W Touhy Avenue in Lincolnwood, 0.6 miles from the District 1860 mixed-use development at Touhy and Lincoln. The stated trade area includes approximately 15,000 residents within 1 mile, nearly 300,000 within 3 miles, and more than 800,000 within 5 miles. Average household income in the area exceeds $100,000.
The property is at 3921 W Touhy Avenue in Lincolnwood, 0.6 miles from the District 1860 mixed-use development at Touhy and Lincoln. The stated trade area includes approximately 15,000 residents within 1 mile, nearly 300,000 within 3 miles, and more than 800,000 within 5 miles. Average household income in the area exceeds $100,000.
Key Highlights
- 7.78% cap rate; all three retail units are occupied by long‑term tenants
- Approximately 4,800 square feet arranged as three 1,600‑square‑foot units
- B2 zoning on a 1.08‑acre site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,514
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,350,280
$1.4M
Cap Rate 7%
$964,486
$964.5K
Cap Rate 9%
$750,156
$750.2K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$105.4K $21.96/SF
− Vacancy
−$9.0K −$1.87/SF
EGI
$96.4K $20.09/SF
− OpEx
−$28.9K −$6.03/SF
NOI
$67.5K $14.07/SF
Area
Cook County, IL
Vacancy
8.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,350,280
Cap Rate 7%
$964,486
Cap Rate 9%
$750,156
Alternative Uses
Best Use
Retail
$964.5K
$843.9K – $1.13M
NOI $67,514 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $129,024 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,328
Businesses Nearby
94k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Groceries 27%
Dining 14%
Electronics 2%
Binny's Beverage Depot
Groceries
25,707 visits/mo
0.3 miles
Mobil
Shops & Services
17,932 visits/mo
0.2 miles
BP
Shops & Services
11,741 visits/mo
0.5 miles
Starbucks
Dining
10,879 visits/mo
0.4 miles
Mobil
Shops & Services
9,417 visits/mo
0.3 miles
Demographics for 60712, IL
13,463
Population
4,987
Households
2.7
Avg Household Size
46
Median Age
57%
College-Educated
93%
High-School Grad
2.7 sq mi
ZIP Area
4,986
Density / Sq Mi
$107,950
Median Household Income
$60,315
Median Earnings
$3,501
Median Rent
$475,400
Median Home Value
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Market
Average Price Trend$/SF for Strip malls in Cook County, IL
Properties on Market for Strip malls in Cook County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Strip mall - An occupied neighborhood retail property with updated building systems and on-site customer parking.
Where is this strip mall located?
The property is located at 3921 W TOUHY Avenue Lincolnwood, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 7.78% cap rate; all three retail units are occupied by long‑term tenants; Approximately 4,800 square feet arranged as three 1,600‑square‑foot units; B2 zoning on a 1.08‑acre site
