Four-Unit Mixed-Use Corner
For Sale
$1,050,000
Pending
4754 North Lincoln Avenue, Chicago, IL 60625
Two retail storefronts and two apartments create a fully occupied commercial and residential property.
Property Size3,100 SF
Days on Market96
Property Features for 4754 North Lincoln Avenue
General Information
Standard status
Pending
Size
3,100 SF
Zoning
B3-3
Occupancy
100%
Site & Location
Corner Location
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$2,500
Taxes and HOA fees
Annual Taxes
$17,696
Amenities
central air conditioning
in-unit laundry
hardwood floors
original woodwork
Building Details
Year Built
1908
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Geoffrey Zureikat · License #471019155
(312) 810-2295
Source:
Compass
Added: Jun 1
Changed: Sep 4
Last Checked: Aug 20 at 1:10PM
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 Compass
Investment Insights
Based on property information with market context.
This 1908 corner mixed-use building combines two retail storefronts with two upper-level apartments. The residential component includes a second-floor three-bedroom, 1.5-bath unit and a third-floor three-bedroom, one-bath unit, each with central air conditioning, in-unit laundry, hardwood floors, and original woodwork. One storefront includes a full basement, while the property also offers potential for a rooftop deck above the Western Avenue retail space.
The building is fully occupied, with one retail lease extending through 2028, a residential lease running through June 2027, and another apartment lease ending in July 2026. Zoned B3-3, the site may support future mixed-use or transit-oriented redevelopment, subject to buyer verification. The property is located at 4754 N. Lincoln Avenue within the Waters Elementary School attendance boundary and near restaurants, cafes, shops, the Western Brown Line station, and CTA bus routes.
The building is fully occupied, with one retail lease extending through 2028, a residential lease running through June 2027, and another apartment lease ending in July 2026. Zoned B3-3, the site may support future mixed-use or transit-oriented redevelopment, subject to buyer verification. The property is located at 4754 N. Lincoln Avenue within the Waters Elementary School attendance boundary and near restaurants, cafes, shops, the Western Brown Line station, and CTA bus routes.
Key Highlights
- Four‑unit configuration with two retail storefronts and two 3‑bedroom apartments
- One retail storefront includes a full basement; the property occupies a corner location
- Residential units offer central air, in‑unit laundry, hardwood floors, and original woodwork
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
$52,313
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
4.98%
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%
$1,046,260
$1.0M
Cap Rate 7%
$747,329
$747.3K
Cap Rate 9%
$581,256
$581.3K
Market Conditions
NOI Build-Up for 3,100 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
$93.0K $30.00/SF
− Vacancy
−$9.3K −$3.00/SF
EGI
$83.7K $27.00/SF
− OpEx
−$31.4K −$10.13/SF
NOI
$52.3K $16.88/SF
Area
Chicago, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,046,260
Cap Rate 7%
$747,329
Cap Rate 9%
$581,256
Alternative Uses
Best Use
Mixed Use
$747.3K
$653.9K – $871.9K
NOI $52,313 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$678.9K
$594.0K – $792.0K
NOI $47,520 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,315 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,787
Businesses Nearby
Explore this area
Business Placement
Demographics for 60625, IL
76,525
Population
33,932
Households
2.3
Avg Household Size
36
Median Age
54%
College-Educated
87%
High-School Grad
3.8 sq mi
ZIP Area
20,138
Density / Sq Mi
$85,299
Median Household Income
$48,314
Median Earnings
$1,455
Median Rent
$396,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two retail storefronts and two apartments create a fully occupied commercial and residential property.
Where is this mixed-use property located?
The property is located at 4754 North Lincoln Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Four‑unit configuration with two retail storefronts and two 3‑bedroom apartments; One retail storefront includes a full basement; the property occupies a corner location; Residential units offer central air, in‑unit laundry, hardwood floors, and original woodwork
