44 Lincoln Hwy Chicago Heights, IL 60411

Property Details for 44 Lincoln Hwy

Year built

1955

Lot size

0.11 lot acres

Property type

Retail space

APN

32-20-400-010

APU

3220400010

Description

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.

Location Insight

City

Chicago Heights

County

Cook

State

Illinois

Longitude

-87.6435

Latitude

41.5058

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments