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    44 Lincoln Hwy Chicago Heights, IL 60411

    Sponsored
    For Sale
    $915,000

    Chicago Heights Office/Retail Opportunity

    Property size:
    6,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity in Chicago Heights, IL, presents two buildings totaling 6,600 square feet of rentable space on a 21,687 square foot lot. Currently at 15% occupancy, the property offers a significant value-add potential. The buildings are classified as Class C, with a single tenant and 15 parking spaces. Zoned R-4, the property allows for versatile commercial uses. The asking price is $915,000, representing a current cap rate of 9.50% and a pro-forma cap rate of 10.35%, based on a projected Year 1 NOI of $94,710. Located on W. Lincoln Hwy, the property benefits from high visibility and accessibility, with an average daily traffic count of 22,780 vehicles. The surrounding area boasts a strong economic foundation, with an average household income of $80,152 within a five-mile radius and total consumer expenditures of $1.658 billion. This prime location, combined with the potential for increased occupancy and a strategic leasing approach, makes this a compelling investment opportunity in a thriving market. The property's strategic location on a major thoroughfare, coupled with the affluent local population and high consumer spending, creates a fertile environment for business growth and tenant success. This presents a unique chance to acquire a high-performing asset with excellent income potential and favorable lease terms.

    Property Features for 44 Lincoln Hwy

    General Information

    Property type
    Retail properties
    Square Feet
    6,600 SF
    Class
    C

    Building Details

    Buildings
    2
    Stories
    1

    HighLights

    • Two‑building investment opportunity in Chicago Heights, IL, totaling 6,600 square feet on a 21,687 square foot lot.
    • Currently 15% occupied, offering significant value‑add potential.
    • Class C property with one tenant and 15 parking spaces; R‑4 zoning allows versatile commercial uses.
    • Asking price: $915,000, with a current cap rate of 9.50% and a pro‑forma cap rate of 10.35% (based on projected Year 1 NOI of $94,710).
    • High‑visibility location on W. Lincoln Hwy (ADT 22,780 vehicles), strong local demographics ($80,152 avg. household income, $1.658B consumer spending within 5 miles).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago Heights
    County
    Cook
    State
    Illinois
    Longitude
    -87.6434329
    Latitude
    41.5058325

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    FAQs

    What type of property is this?
    Retail property - Chicago Heights Office/Retail Opportunity
    Where is this retail property located?
    The property is located at 44 Lincoln Hwy Chicago Heights, IL.
    What is the asking price?
    The asking price for this property is $915,000.
    What are key features of this property?
    This property features: Two-building investment opportunity in Chicago Heights, IL, totaling 6,600 square feet on a 21,687 square foot lot.; Currently 15% occupied, offering significant value-add potential.; Class C property with one tenant and 15 parking spaces; R-4 zoning allows versatile commercial uses.
    Request Owner's contact information
    44 Lincoln Hwy Chicago Heights, IL 60411
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    Chicago Heights, IL 60411
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    44 Lincoln Hwy Chicago Heights, IL 60411
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