Property profile

120 Chicago St Lincoln, IL 62656

OFF-MARKET
Commercial real estate
Property ID
US28-3721385
Entity Owned 12-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional investment opportunity presents two adjacent, two-story commercial buildings located in the heart of Lincoln, Illinois, at 120 S Chicago Street. Each building offers substantial square footage, totaling 5,838 square feet across both structures. Currently vacant, these properties have been unoccupied for several years, presenting a unique chance for a savvy investor to capitalize on their considerable potential. The buildings are being sold "AS IS," reflecting their need for renovation and repair. However, this condition also translates to significant upside for a buyer willing to undertake a refurbishment project. The commercial zoning allows for a wide range of potential uses, making these buildings suitable for various business ventures. The prime downtown location offers excellent visibility and accessibility, ensuring high foot traffic and potential for strong returns on investment. Given the size and location, this property is ideal for redevelopment into a thriving commercial space, offering a substantial return for the right investor. The absence of existing tenants allows for complete customization and the creation of a space tailored to specific business needs. This is a rare opportunity to acquire a substantial downtown property with significant potential for growth and profitability. Act quickly to secure this promising investment.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
APN 08-210-084-00
UPID US28-3721385

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

120 Chicago St Lincoln, IL 62656
Lincoln metro Census 953300 LINCOLN, IL MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Owner & transaction history

since 2014
2 recorded transactions
2014
$17,000
2014
$7,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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