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    5875 Lincoln Ave Chicago, IL 60659

    Sponsored
    For Sale
    $3,127,000

    High-yield, multi-tenant office building

    Property size:
    35,282 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This exceptional 35,282 square foot multi-tenant office building in Chicago, IL presents a compelling investment opportunity. Located at 5875 N Lincoln Ave, this property boasts 62 units, with 56 currently leased (94% occupancy), offering immediate cash flow. The building sits on a 28,272 square foot lot and includes 45 private parking stalls, supplemented by ample street parking. The property's B3-2 zoning permits apartments above the ground floor, presenting potential for future development. Short-term leases with high renewal rates ensure stable operation. Conveniently located near public transportation (CTA #11 and #84 bus routes), major expressways (I-94 and Lake Shore Drive), Northeastern Illinois University, and numerous amenities including Mather High School, Mather Park, and a variety of restaurants. The property features security cameras and substantial remodel, demolition, and relocation clauses within existing leases. Four tax parcels comprise the land. Annual property taxes (2023 payable) totaled $85,002. The strong demographics of the area, with high household incomes and a dense business population within a 2-5 mile radius, further enhance the investment potential. Daily traffic counts at the intersection of Lincoln Avenue and Richmond Street exceed 29,000 vehicles. This is a turnkey opportunity for a savvy investor seeking a stable, high-return property in a prime Chicago location.

    Property Features for 5875 Lincoln Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    35,282 SF

    Building Details

    Buildings
    1
    Units
    62

    HighLights

    • 35,282 SF multi‑tenant office building in Chicago, IL.
    • 28,272 SF land parcel.
    • $85,002 in 2023 property taxes.
    • Stable cash flow with short‑term leases and high renewal rates.
    • Excellent public transportation access (CTA #11 & #84).
    • Across from Mather High School and Mather Park.
    Property Profile Location Intelligence

    Current Use by Public Records

    Next Level Construction General Contractor All Suburban Electric Electrician Codinex Co Software Company FIFTY SEVEN CORP Business Management Consultant The Law Office of Timothy ... Attorney

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7035844
    Latitude
    41.9884261

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    FAQs

    What type of property is this?
    Office Property / Space - High-yield, multi-tenant office building
    Where is this office property / space located?
    The property is located at 5875 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: 35,282 SF multi-tenant office building in Chicago, IL.; 28,272 SF land parcel.; $85,002 in 2023 property taxes.
    (773) 736-6461
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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
    5875 Lincoln Ave Chicago, IL 60659
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