Two-Unit Live-Work
8021 Lincoln Avenue Skokie, IL 60077
For Sale
$674,300
Three-level layout with first-floor commercial/flex space and residential living above, plus direct access to three owned garage parking spots.
Property Size1,800 SF
Price / SF$374.61
Days on Market193
Property Features for 8021 Lincoln Avenue
General Information
- Standard status
- Active
- Size
- 1,800 SF
Building Details
- Year Built
- 1994
Listing Agency:
Ellen Gutiontov
(312) 217-4833
Listed By:
Ellen Gutiontov · License #471010452
(312) 217-4833
Source:
Compass
Added: Jan 11
Changed: Jul 23
Last Checked: Jul 23 at 3:04PM
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 Ellen Gutiontov
Investment Insights
Based on property information with market context.
This property offers two mixed-use townhouses combined into a single three-level configuration. The first floor features double commercial/flex space with two half baths, with direct access to three owned parking spots in the attached garage. The commercial/flex area can be used as one space or separated back to accommodate two commercial spaces, depending on how a buyer plans to operate or rent it.
The second and third levels are set up for residential living, including multiple living areas, eat-in kitchens with sliding doors to a private patio and direct access to an interior courtyard, and flexible interior space. The third level includes four bedrooms, with two en-suite full bathrooms and two additional full bathrooms. Additional conveniences include two upper-level laundries and two attics for storage.
The property is offered for sale as-is. Public remarks note downtown Skokie proximity to restaurants and shops, with public transit access and easy highway access.
The second and third levels are set up for residential living, including multiple living areas, eat-in kitchens with sliding doors to a private patio and direct access to an interior courtyard, and flexible interior space. The third level includes four bedrooms, with two en-suite full bathrooms and two additional full bathrooms. Additional conveniences include two upper-level laundries and two attics for storage.
The property is offered for sale as-is. Public remarks note downtown Skokie proximity to restaurants and shops, with public transit access and easy highway access.
Key Highlights
- 1994‑built three‑level property with first‑floor commercial/flex space and residential living on the 2nd and 3rd levels
- First floor includes double commercial/flex space with 2 half baths and direct access to 3 owned parking spots in the attached garage
- Residential levels feature 4 large bedrooms, 2 en‑suite full bathrooms, and 2 additional full bathrooms
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.0k | $30.00 |
| − Vacancy | −$5.4k | −$3.00 |
| EGI | $48.6k | $27.00 |
| − OpEx | −$18.2k | −$10.13 |
| NOI | $30.4k | $16.88 |
1,800 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$433.9K
$379.7K – $506.3K
NOI $30,375 @ 7.0% cap · market cap 4.50%
Second Best
Office B
$354.6K
$310.2K – $413.7K
NOI $24,819 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$621.5K
$543.8K – $725.0K
NOI $43,502 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Georgiy Lifshits, PHD, ...
Alternative Medicine Practice
FAQs
What type of property is this?
Live-work space - Three-level layout with first-floor commercial/flex space and residential living above, plus direct access to three owned garage parking spots.
Where is this live-work space located?
The property is located at 8021 Lincoln Avenue Skokie, IL.
What is the asking price?
The asking price for this property is $674,300.
What are key features of this property?
This property features: 1994‑built three‑level property with first‑floor commercial/flex space and residential living on the 2nd and 3rd levels; First floor includes double commercial/flex space with 2 half baths and direct access to 3 owned parking spots in the attached garage; Residential levels feature 4 large bedrooms, 2 en‑suite full bathrooms, and 2 additional full bathrooms
