4357 North Lincoln Avenue C, Chicago, IL, 60618

$360,000

About 4357 North Lincoln Avenue C

Perfect commercial condo opportunity for an investor or owner/occupier. The unit is already nicely built out and currently tenanted with an arts and crafts business. B1-2 zoning which permits a variety of retail uses. Tenant pays $3,150 / month until 10/31/26 and $3,200 / month between 11/01/26 - 10/31/27. There is an option to renew for an additional 3 years at 5 per cent more than the prior year. Tenant pays for all expenses other than Mortgage, Property Tax and HOA. Low HOA fees currently $85.90 per month. Current passing income implies a cap rate around 7 for 2025. However, property taxes were successfully appealed as of January 2025 and assessed value dropped to $56,250 from $99,251. This implies a material decrease in 2024 property taxes when second installment finally arrives. This lifts the pro forma cap rate to 8 to 9 based on pro forma NOI.

Additional Information: This property is located in the CHI - North Center neighborhood, IL. This 0 bedrooms retail/stores property is priced at $360,000.

Facts & Features

MLS® # 12506614
Price $360,000
Bathrooms 0.00
Taxes $12,241
Acres 0.00
Year Built 2014
Type Commercial Sale
Sub-Type Retail/Stores
Status New

Community Information

Address 4357 North Lincoln Avenue C
Area CHI - North Center
City Chicago
County Cook
State IL
Zip Code 60618

Amenities

Is Waterfront No
Has Pool No

Interior

Cooling Central Air
Fireplace No
Has Basement No

Additional Information

Days on Market 6
Foreclosure No
Short Sale No
RE / Bank Owned No
Taxes $12,241

Listing Details

OfficeBerkshire Hathaway HomeServices Chicago
Contact Info312-944-8900

Listing Map

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