2448-2462 Lincoln Ave Chicago, IL 60614
- Retail properties
- 5,661 SF
Current Use by Public Records
- Retail properties
Property Details for 2448-2462 Lincoln Ave
- Year built
- 2018
- Property size
- 5,661 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional retail investment opportunity presents three 100% occupied storefronts totaling 5,281 net rentable square feet, situated on two parcels in Chicago's coveted Lincoln Park neighborhood (60614 zip code). Built in 2018, the property boasts a strong tenant mix including Play (high-end toy store), Junior Chefs Kitchen (children's cooking classes), and That Face Facial Plastic Surgery. All tenants are under net leases with a 7.7-year weighted average lease term (WALT) and rental escalations of either 2% annually or 10% every five years, minimizing management responsibilities and providing a hedge against rising expenses. The property enjoys a prime location on Lincoln Avenue, a high-traffic retail corridor with over 40,500 vehicles passing daily, near the intersection of Fullerton Avenue and Halsted Street. Its proximity to DePaul University (20,500 students), numerous Lincoln Park attractions, and public transportation (CTA Red/Brown/Purple Line and bus routes #8, #37, and #74) further enhances its appeal. The surrounding area boasts a population of 90,000, an average household income of $144,000, and a median home value of $608,000, reflecting a highly affluent and desirable demographic. This is a rare opportunity to acquire a stabilized, multi-tenant retail property in one of Chicago's most sought-after neighborhoods. The property consists of two buildings, each one story, with a total of three units. The APN numbers are 14-29-423-066-0000 and 14-29-427-085-0000. The asking price is $2,495,000.
Value Estimation
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6506
- Latitude
- 41.9268
