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    2470 Lincoln Ave Chicago, IL 60614
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    Property profile & analytics

    2470 Lincoln Ave Chicago, IL 60614

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    • Commercial real estate
    • 3,450 SF
    Off-Market
    Property ID
    US28-1246882
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dillinger's Bar and Grill / Bar & Pub
    • H&C Pour House / Restaurant

    Property Details for 2470 Lincoln Ave

    Property size
    3,450 SF
    Property type
    Commercial real estate

    Description

    This exceptional commercial property at 2470 North Lincoln Avenue in Chicago, Illinois offers 3,450 square feet of retail or restaurant space currently available for lease. The property is located in Cook County, zip code 60614, and features a flexible layout suitable for multiple tenants. Two spaces are available, each ranging from 1,675 to 1,775 contiguous square feet. The entire building is currently vacant, presenting a unique opportunity for a single tenant to occupy the entire space or for multiple tenants to lease individual units. The property boasts a convenient location on North Lincoln Avenue, offering excellent visibility and accessibility for customers. Limited parking is available on-site with two parking spaces provided. This prime location in Chicago's vibrant Lincoln Park neighborhood offers high foot traffic and strong potential for business success. The property's versatile design makes it ideal for a variety of retail or restaurant concepts. Interested parties are encouraged to inquire about lease terms and conditions. The property is categorized as commercial, with a multiple tenancy structure. The address is 2470 N Lincoln Ave, Chicago, IL 60614.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6510732
    Latitude
    41.9268625

    Comparable in this City

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      Prime Retail Space in Chicago

      Retail space in the heart of Old Town, Chicago.
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      Retail Space for Lease

      Retail space available for lease at 2653 N Clark St.
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      Retail Space with Outdoor Courtyard

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      Prime Lincoln Park Retail Opportunity

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    Similar Nearby for Lease

    • $14 SF/Yr
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      Retail Space in Lincoln Park

      1,745 SF retail space in Chicago's west Lincoln Park.
      1700 W Diversey Pkwy, Chicago, IL 60614
      View Details
    • Contact for pricing
      3,679 SF

      Restaurant Space Available for Lease

      3,679 SF fully built-out restaurant space for lease.
      2756 N Pine Grove Ave, Chicago, IL 60614
      View Details
    • Contact for pricing
      8,415 SF

      Prime Retail Space in Chicago

      Retail space in the heart of Old Town, Chicago.
      1608-1620 N Wells St, Chicago, IL 60614
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease at 2653 N Clark St.
      2653 N Clark St, Chicago, IL 60614
      View Details
    • $45 SF/Yr
      6,816 SF

      Retail Space with Outdoor Courtyard

      6,816 SF retail space with a 2,200 SF courtyard.
      658 W Belden Ave, Chicago, IL 60614
      View Details
    • $14 SF/Yr

      Retail Space in Lincoln Park

      1,745 SF retail space in Chicago's west Lincoln Park.
      1700 W Diversey Ave, Chicago, IL 60614
      View Details
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    2470 Lincoln Ave
    Chicago, IL 60614
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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