120 Chicago St, Lincoln, IL 62656
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.