Lincoln Avenue Commercial Space
For Sale
$375,000
5582 N Lincoln Avenue #C2, Chicago, IL 60625
Modern commercial space ideal for retail, office, or service businesses.
Property Size1,261 SF
Price / SF$297.38
Days on Market166
Property Features for 5582 N Lincoln Avenue #C2
General Information
Standard status
Active
Size
1,261 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,547
Amenities
Central air
Central Air Cooling
Central Individual Cooling
Fiberglass Roof
Membrane Roof
Building Details
Year Built
2006
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES CHICAGO
(312) 944-8900
Listed By:
EMIR VULIC · License #475170306
Source:
Corcoran
Added: Feb 26
Changed: Aug 8
Last Checked: Aug 8 at 2:03PM
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 BERKSHIRE HATHAWAY HOMESERVICES CHICAGO
Investment Insights
Based on property information with market context.
Located on Lincoln Avenue, this commercial space offers 1,261 square feet on the first floor, complemented by 922 square feet of lower-level storage. The space is suitable for various commercial uses permitted under B2-3 zoning, including boutique retail, cafe, salon, spa, yoga or fitness studio, professional office, therapy or medical practice, or real estate and insurance offices. The property features large display windows with awnings, providing street presence and natural light. It includes central A/C and heat, a kitchenette equipped with a sink and refrigerator, a bathroom, and a water fountain. Two rear parking spaces are included. The property is located on Lincoln Avenue and benefits from ample street parking. The space is available for sale.
Key Highlights
- Prime Lincoln Avenue location with high visibility.
- Versatile B2‑3 zoning allows for a wide range of commercial uses.
- Features 1,261 sq ft of first‑floor space plus 922 sq ft of lower‑level storage.
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
$27,056
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
7.21%
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%
$541,120
$541.1K
Cap Rate 7%
$386,514
$386.5K
Cap Rate 9%
$300,622
$300.6K
Market Conditions
NOI Build-Up for 1,261 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
$48.4K $38.40/SF
− Vacancy
−$12.3K −$9.79/SF
EGI
$36.1K $28.61/SF
− OpEx
−$9.0K −$7.15/SF
NOI
$27.1K $21.46/SF
Area
Chicago, IL
Vacancy
25.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
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%
$541,120
Cap Rate 7%
$386,514
Cap Rate 9%
$300,622
Alternative Uses
Best Use
Office B
$386.5K
$338.2K – $450.9K
NOI $27,056 @ 7.0% cap · market cap 7.21%
Second Best
Specialty Retail
$335.3K
$293.4K – $391.2K
NOI $23,470 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$594.6K
$520.2K – $693.7K
NOI $41,619 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,778
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 Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Modern commercial space ideal for retail, office, or service businesses.
Where is this retail space located?
The property is located at 5582 N Lincoln Avenue #C2 Chicago, IL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Prime Lincoln Avenue location with high visibility.; Versatile B2‑3 zoning allows for a wide range of commercial uses.; Features 1,261 sq ft of first‑floor space plus 922 sq ft of lower‑level storage.
