Lincoln Square Commercial
4856 N Damen Ave, Chicago, IL 60625
Turn-key office/retail condo in prime location.
Type:Office
Property size:
1,645 SFPrice / SF:
$258/SF- Added:
- Aug 29, 2025
- Days on Market:
- 262
- Last Refresh:
- Mar 17 at 1:13 pm
Property Features for 4856 N Damen Ave
General Information
- Standard status
- Active
- Size
- 1,645 SF
- Property subtype
- Office
Building Details
- Year Built
- 2006
Listing agent Mike Levin License #IL
Listing office @properties Commercial
Listing date Aug 29, 2025
Source Crexi
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 @properties Commercial
HighLights
- Prime Lincoln Square location at the corner of Damen and Ainslie with excellent visibility and high traffic (6,600 VPD).
- Turn‑key, move‑in ready 1,645 SQ FT commercial condo, currently built out as a professional office.
- B3‑2 Zoning allows for a wide range of uses: professional, retail, legal, medical, financial, and more.
- Modern, open office space with lobby/waiting area, 4 treatment rooms, ADA restroom, and supply storage.
- New, commercial‑grade copper plumbing and 200 amp power service.
- Convenient access to public transportation (bus, CTA Damen stop) and ample street parking.
Overview
This 1,645 square foot commercial business condo is located on the ground floor in Lincoln Square, offering excellent visibility in a prime location at the stop sign corner of Damen and Ainslie. The property benefits from B3-2 zoning and sees approximately 6,600 vehicles per day on Damen. Currently used as a chiropractic office, the well-maintained unit features a modern, open office space. The fully built-out, turn-key space includes a lobby waiting area, a large bright window line along Damen and Ainslie, four treatment rooms, and a supply storage room. It also has one large, modern, ADA-compliant restroom and is handicap accessible from the interior entrance. The unit features new, commercial-grade, copper plumbing throughout. The building provides a signage area. Power is approximately 200 amps. Street parking is readily available. The location is near public transportation, including bus routes and the CTA Train Damen stop, with convenient access to shopping to the north, south, and west. The assessment includes water, rubbish, scavenger, and maintenance. The surrounding area features retail businesses such as Sweet Moon Coffee, The Perfect Cup Coffee, CVS, Subway, Wendy's, Mariano's, and Golden Nugget Restaurant. This property is suitable for an owner-user or investment and is ideal for professional, retail, legal, insurance, real estate, mortgage, financial, banking, medical, government, podiatry, dental, physical therapy, educational, school, training, or call center use.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$392.2K
NOI $35,295 @ 9.00% cap · cautious / downside scenario
Moderate
$504.2K
NOI $35,295 @ 7.00% cap · market / base-case scenario
Aggressive
$705.9K
NOI $35,295 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.2k | $38.40 |
| − Vacancy | −$16.1k | −$9.79 |
| EGI | $47.1k | $28.61 |
| − OpEx | −$11.8k | −$7.15 |
| NOI | $35.3k | $21.46 |
1,645 SF · lease $38.40/SF/yr · vacancy 25.50% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$504.2K
$441.2K – $588.3K
NOI $35,295 @ 7.0% cap · market cap 8.30%
Second Best
Retail
$325.1K
$284.5K – $379.3K
NOI $22,758 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$775.6K
$678.7K – $904.9K
NOI $54,293 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Eastland Acupuncture Center
Medical Clinic
Similar Places Nearby
- Lincoln Square Animal Hospital — 4501 N Lincoln Ave, Chicago, IL 60625
- Edward Holub — 4613 N Ashland Ave, Chicago, IL 60640
- BLVD Vet Ravenswood — 4646 N Damen Ave, Chicago, IL 60625
- BLVD Cat — 4646 N Damen Ave, Chicago, IL 60625
- The Royal Treatment Veterinary Center — 1767 W Wilson Ave, Chicago, IL 60640
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6796162
- Latitude
- 41.9704519
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Turn-key office/retail condo in prime location.
Where is this medical office space located?
The property is located at 4856 N Damen Ave Chicago, IL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Prime Lincoln Square location at the corner of Damen and Ainslie with excellent visibility and high traffic (6,600 VPD).; Turn‑key, move‑in ready 1,645 SQ FT commercial condo, currently built out as a professional office.; B3‑2 Zoning allows for a wide range of uses: professional, retail, legal, medical, financial, and more.
