Chicago Multifamily Investment
For Sale
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5875 N Lincoln Ave, Chicago, IL 60659
Multifamily property with high occupancy and redevelopment potential.
Property Size35,282 SF
Price / SF$88.63
Days on Market800
Property Features for 5875 N Lincoln Ave
General Information
Standard status
Active
Size
35,282 SF
Property subtype
Office
Zoning
B3-2
Building Details
Buildings
1
Units
62
Listing Agency:
Imperial Realty Company
Listed By:
Theron May · License #IL 471.019986
(773) 736-6461
Source:
Crexi
Added: Jul 16, 2024
Changed: Sep 13
Last Checked: Sep 22 at 4:00PM
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 Imperial Realty Company
Investment Insights
Based on property information with market context.
This property consists of four tax pins. The first, #13-01-305-049, encompasses 8,773 square feet of land. The second, #13-01-305-050, includes 11,700 square feet of land. The third, #13-01-305-045, is 2,923 square feet of land, and the fourth, #13-01-305-046, is 4,870 square feet of land. The property is zoned B3-2, which permits apartments above the ground floor. Currently, 56 out of 62 units are leased, representing a 94% occupancy rate. Leases contain remodel, demo, and relocation clauses. The property includes 45 private parking stalls, with additional street parking available along Lincoln and Richmond Streets. Public transportation is accessible via the #11 bus route and a one-block walk to the #84 bus route. Wrigley Field is located 4.2 miles southeast. The Edens Expressway (I-94) is 2.3 miles to the west, approximately a 6-minute drive, and Lake Shore Drive (Rt 41) is 2.9 miles to the east, about a 10-minute drive. Northeastern Illinois University (NEIU) is 1.1 miles to the southwest. The surrounding area within a 2-mile radius has a population of 196,181 with 74,002 households, while the population within a 5-mile radius is 957,827 with 383,557 households. The average household income is $96,035 and $105,453 respectively. There are 6,489 businesses in the 2-mile radius and 33,791 in the 5-mile radius. Traffic counts at Lincoln Avenue and Richmond Street are 29,589 vehicles per day.
Key Highlights
- High Occupancy Rate: 94% occupied, offering immediate income.
- B3‑2 Zoning: Allows apartments above ground floor.
- Multiple Parcels: Four tax pins totaling 28,266 sf of land.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,825
Businesses Nearby
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with high occupancy and redevelopment potential.
Where is this apartment building located?
The property is located at 5875 N Lincoln Ave Chicago, IL.
What is the asking price?
The asking price for this property is $3,127,000.
What are key features of this property?
This property features: High Occupancy Rate: 94% occupied, offering immediate income.; B3‑2 Zoning: Allows apartments above ground floor.; Multiple Parcels: Four tax pins totaling 28,266 sf of land.
