6222 N Lincoln Ave - Storefront FOR SALE


Chicago, IL 60659
$895,000 USD
321-695-2324
6222 N Lincoln Ave, Chicago, IL for Sale
$895,000 USD
Storefront - FOR SALE
1/9
null | 12.38% Cap Rate

6222 N Lincoln Ave
Chicago, IL 60659


HIGHLIGHTS

  • GREAT STREET LEVEL WITH EXCELLENT EXPOSURE

OVERVIEW

Owner motivated to sell at the right price, will entertain a reasonable offer. The building is occupied by a Furniture Store since 2004 paying below market rents. Current Market rate 25 PSF. The year to year lease terminates September 30th 2025. This lease can be terminated sooner with reasonable notice to the tenant. Buyer can negotiate the lease or terminate the lease as desired. The site has 2 Tax PIN numbers. For developers, it is a goldmine, can build up to 5 stories, 18 residential units and 4 commercial/retail units. Up to 7 angled parking by Bernard street is permissible. City zoning is anxious see new development, will cooperate to get maximum FAR.

FOR SALE DETAILS

PRICE

$895,000 USD

PRICE/SF

$173 USD /SF

CAP RATE

12.38%

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

LINCOLN BUILDING

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

undefined, Restaurant, Medical

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1976

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,200 SF

ZONING

B3-2, Chicago

APN/PARCEL ID

13-02-206-001-0000,13-02-206-002-0000

ASK ABOUT THIS PROPERTY

Abdul MathinBlackMINEMore Info
321-695-2324

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Abdul MathinBlackMINEMore Info
321-695-2324

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.