Corner Shopping Center with Multiple
For Sale
$1,900,000
5737 Lincoln Avenue, Chicago, IL 60659
Renovated, fully occupied shopping center on a double lot with seven tenants, including restaurants and a dental office.
Property Size12,000 SF
Price / SF$158.33
Days on Market181
Property Features for 5737 Lincoln Avenue
General Information
Standard status
Active
Size
12,000 SF
Property subtype
General Commercial
Occupancy
100%
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$58,000
Amenities
Central Air
3
253X162X151X124
Building Details
Year Built
1957
Tenancy
Multi
Listing Agency:
Mega USA Properties, Inc.
(773) 396-4833
Listed By:
Adrianne Han · License #471008169
(773) 396-4833
Source:
Xome
Added: Feb 10
Changed: Aug 7
Last Checked: Aug 9 at 4:53AM
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 Mega USA Properties, Inc.
Investment Insights
Based on property information with market context.
This renovated retail shopping center is fully occupied and set on a double lot. The property includes space for seven tenants, with a mix that comprises well-established restaurants, a dental office, and other retail businesses. Numerous recent upgrades and improvements are noted, supporting a turnkey presentation for investors and operators seeking established occupancy.
The center is positioned along the Lincoln Avenue corridor on a high-traffic corner with strong visibility. The property addresses are 5737–5741 N. Lincoln Ave and 5744–5752 N. California Ave in Chicago, Illinois.
The center is positioned along the Lincoln Avenue corridor on a high-traffic corner with strong visibility. The property addresses are 5737–5741 N. Lincoln Ave and 5744–5752 N. California Ave in Chicago, Illinois.
Key Highlights
- Renovated shopping center on a double lot at 5737‑5741 N. Lincoln Ave and 5744‑5752 N. California Ave
- Fully occupied commercial property with seven tenants
- Tenant mix includes well‑established restaurants and a dental office plus other retail businesses
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
$166,018
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
8.74%
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%
$3,320,360
$3.3M
Cap Rate 7%
$2,371,686
$2.4M
Cap Rate 9%
$1,844,644
$1.8M
Market Conditions
NOI Build-Up for 12,000 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
$259.2K $21.60/SF
− Vacancy
−$22.0K −$1.84/SF
EGI
$237.2K $19.76/SF
− OpEx
−$71.2K −$5.93/SF
NOI
$166.0K $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%
$3,320,360
Cap Rate 7%
$2,371,686
Cap Rate 9%
$1,844,644
Alternative Uses
Best Use
Specialty Retail
$3.19M
$2.79M – $3.72M
NOI $223,344 @ 7.0% cap · market cap 11.75%
Second Best
Retail
$2.37M
$2.08M – $2.77M
NOI $166,018 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$5.66M
$4.95M – $6.60M
NOI $396,058 @ 7.0% cap · market cap 20.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60659, IL
40,579
Population
14,748
Households
2.8
Avg Household Size
36
Median Age
40%
College-Educated
82%
High-School Grad
2.4 sq mi
ZIP Area
16,908
Density / Sq Mi
$70,033
Median Household Income
$40,493
Median Earnings
$1,391
Median Rent
$358,800
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Renovated, fully occupied shopping center on a double lot with seven tenants, including restaurants and a dental office.
Where is this shopping center located?
The property is located at 5737 Lincoln Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Renovated shopping center on a double lot at 5737‑5741 N. Lincoln Ave and 5744‑5752 N. California Ave; Fully occupied commercial property with seven tenants; Tenant mix includes well‑established restaurants and a dental office plus other retail businesses
