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    7880 Lincoln Ave Skokie, IL 60077
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    7880 Lincoln Ave, Skokie, IL 60077

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    • Retail space
    • 0.14 lot acres
    For Lease
    View Listing →
    Mixed-Use Building in Skokie For Lease
    Contact for pricing
    5,000 SF

    Mixed-Use Building in Skokie

    Mixed-use building near Skokie's downtown entertainment corridor.

    7880 Lincoln Avenue, Skokie, IL 60077
    View Listing
    Property ID
    US28-1816098
    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

    • Jacob's Ceramic Studio, Inc. / Dental Office

    Property Details for 7880 Lincoln Ave

    Year built
    2000
    Lot size
    0.14 lot acres
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    10-28-210-017
    APU
    1028210017

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 31, 2019 $900,000 7880 N Lincoln LLC Zj & S Partners LLC Warranty Deed —
    Oct 6, 2014 $833,000 Zj & S Partners LLC Bletnitsky,jacob & Irina Grant Deed —
    Jul 14, 2009 — Jacob Bletnitsky — Trustees Deed · related $404k · American Chartered Bank
    Feb 7, 2006 — Jacob Bletnitsky — Deed Of Trust · related $2.3M · International Bank Of Chicago
    Jan 13, 2004 — Jacob Bletnitsky — Deed Of Trust · related $1.5M · First Bank & Trust Co Illinois
    Sep 23, 2003 — Jacob Bletnitsky — Deed Of Trust · related $1.5M · Builders Bank
    — — Jacob Bletnitsky — Deed Of Trust · related $327k · First Midwest Bank
    — — Jacob Bletnitsky — Deed Of Trust · related $295k · First Midwest Bank
    — — Jacob Bletnitsky — Deed Of Trust · related $250k · Albany Bank & Trust Co NA
    — — Jacob Bletnitsky — Deed Of Trust · related $454k · First Midwest Bank
    — — Jacob Bletnitsky — Deed Of Trust · related $350k · International Bank Of Chicago

    Description

    This exceptional 5,000-square-foot, two-story office building, constructed in 2000, enjoys a superb location in the heart of Skokie, Illinois. Situated at 7880 Lincoln Avenue, it offers unparalleled access to the vibrant downtown area, with its bustling Oakton Street and Lincoln Avenue/Niles Center Road corridor. The building's convenient proximity to key amenities is a significant advantage

    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
    Skokie
    County
    Cook
    State
    Illinois
    Longitude
    -87.7556
    Latitude
    42.0242
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $62,787
    $21,875
    $179,544
    $201,419
    -
    $87,500
    $718,176
    $805,676

    Comparable in this City

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      1.65 Acres

      4847 Old Orch Shopping Ctr

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      4932 Dempster St

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      4932 Dempster St, Skokie, IL 60077
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    • Value Estimation
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      3.16 Acres

      4901 Searle Pkwy

      STORE, RETAIL OUTLET
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    • Value Estimation
      $3,300,000
      1.81 Acres

      8030 Lamon Ave

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      View Details
    • Value Estimation
      $670,000
      0.09 Acres

      5360 Fargo Ave

      STORE, RETAIL OUTLET
      5360 Fargo Ave, Skokie, IL 60077-3250
      View Details

    Similar Nearby for Sale

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      Mixed-use brick building with storefront and residential apartment in Skokie.
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      View Details
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      Skokie Mixed-Use Building For Sale

      Two-story mixed-use building near Skokie downtown action and entertainment.
      7880 Lincoln Ave, Skokie, IL 60077
      View Details
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      Skokie Retail Building For Sale

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      Skokie Boulevard Retail Property

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      Move-in ready office/retail building in downtown Skokie with flexible layout.
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    Similar Nearby for Lease

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      3,793 SF

      Retail Space Near Old Orchard

      Retail spaces available near Old Orchard, Skokie, Illinois.
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      1,977 SF

      Skokie Retail Space For Rent

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      3,450 SF

      Retail Space on Touhy Avenue

      Retail spaces available in Skokie, high-traffic location.
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      3,450 SF

      Veterinary Space Available for Lease

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    Skokie, IL 60077
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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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    7880 Lincoln Ave, Skokie, IL, 60077
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