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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8046 Lincoln Ave Skokie, IL 60077

    • Retail space
    • 0.15 lot acres
    For Sale
    View listing
    $1,000,000
    Last Sale
    Mar 04, 2025
    $795,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2406979
    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.

    Current Use by Public Records

    • Retail space

    Property Details for 8046 Lincoln Ave

    Year built
    1954
    Lot size
    0.15 lot acres
    Property type
    Retail space
    APN
    10-21-413-019
    APU
    1021413019

    Description

    This exceptional investment opportunity presents a fully leased, four-unit retail building situated in the heart of downtown Skokie, Illinois. The property, located at 8046 N Lincoln Avenue, boasts a total of 6,326 square feet and sits on a prime corner lot, ensuring maximum visibility and accessibility. Currently enjoying 100% occupancy, the building features strong, reliable tenants, providing a consistent stream of income and minimizing management demands. Each of the four units is designed to attract and retain high-quality tenants, offering versatility for a diverse range of retail businesses. The vibrant and bustling location in downtown Skokie guarantees high foot traffic, ensuring consistent customer flow for tenants. This translates to a stable and lucrative investment, ideal for both seasoned investors seeking to expand their portfolio and those new to commercial real estate looking for a low-management, high-return property. The solid brick construction ensures durability and longevity, further enhancing the value of this exceptional investment opportunity. The asking price for this prime retail property is $1,000,000. This represents a compelling opportunity to acquire a well-established, income-producing asset in a thriving downtown location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Skokie
    County
    Cook
    State
    Illinois
    Longitude
    -87.755
    Latitude
    42.0277
    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
    $40,110
    $22,802
    $105,869
    $128,671
    -
    $91,208
    $423,476
    $514,684

    Comparable in this City

    • Value Estimation
      $280,000
      0.07 Acres

      8330 Lincoln Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.07 Acres
      8330 Lincoln Ave, Skokie, IL 60077-2436
      View Details
    • Value Estimation by Request

      5268 Lincoln Ave

      RETAIL STORES (PERSONAL SERVICES)
      5268 Lincoln Ave, Skokie, IL 60077
      View Details
    • Value Estimation by Request

      7554 Lincoln Ave

      RETAIL STORES (PERSONAL SERVICES)
      7554 Lincoln Ave, Skokie, IL 60077-3335
      View Details
    • Value Estimation
      $290,000
      0.43 Acres

      5313 Lincoln Ave, Unit 27

      RETAIL STORES (PERSONAL SERVICES) • 0.43 Acres
      5313 Lincoln Ave, Skokie, IL 60077-2009
      View Details
    • Value Estimation by Request

      4954 Main St

      RETAIL STORES (PERSONAL SERVICES)
      4954 Main St, Skokie, IL 60077-2516
      View Details
    • Value Estimation
      $305,000
      0.07 Acres

      4907 Oakton St

      RETAIL STORES (PERSONAL SERVICES) • 0.07 Acres
      4907 Oakton St, Skokie, IL 60077-2903
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Skokie Retail Space For Rent

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      Retail Space Near Old Orchard

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      Jack's Corner Retail Space

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      Skokie Retail Space Available

      Retail space in a prime Skokie location for lease.
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      Retail Space in Skokie

      Retail spaces available along a strong retail corridor in Skokie.
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    • Contact for pricing
      3,450 SF

      Retail Space on Touhy Avenue

      Retail spaces available in Skokie, high-traffic location.
      5201-5237 Touhy Ave, Skokie, IL 60077
      View Details
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    8046 Lincoln Ave
    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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