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19164331
19161518

5875 N Lincoln Ave, Chicago, IL 60659

TM
IL 471.019986
Imperial Realty Company
RS
IL, 00000
Imperial Realty Company
Listed by Imperial Realty Company
$3,127,000
688 days on market
Updated 7 days ago

Lincoln Office Building

Details
Property Type Office
Sub Type Traditional Office
Square Footage 35,282
Units 62
Price per SqFt $89
Buildings 1
Lot Size (SqFt) 28,272
Zoning B3-2
Sale Condition For sale by owner

Office | 35,282 SF

Marketing description

Four Tax Pins - #13-01-305-049 is 8,773 sf of land - #13-01-305-050 is 11,700 sf of land - #13-01-305-045 is 2,923 sf of land - #13-01-305-046 is 4,870 sf of land

B3-2 Zoning - Apartments permitted above the ground floor. - 50th Ward Debra Silverstein

90-day Out Clause - 56 out of 62 units in the building are leased. (94% leased) - Leases contain a substantial remodel out clause, demo clause and a relocation clause within the building

45 Private Parking Stalls - With overflow street parking along Lincoln & Richmond Street

Transportation: The CTA provides public transportation to the property with the #11 bus route and a one block walk to the #84 bus route. Wrigley Field is 4.2 miles southeast. Edens Expressway (I-94) is 2.3 miles to the west and a 6-minute drive. Lake Shore Drive (Rt 41) is 2.9 miles to the east and a 10-minute drive.

NEIU: (Northeastern Illinois University) is 1.1 miles to the southwest. The campus serves approximately 9,000 students

Demographics: Population in a 2-mile radius is 196,181 with 74,002 households while the population in a 5-mile radius is 957,827 with 383,557 households. Average household income is $96,035 and $105,453 respectively. There are 6,489 businesses n the 2-mile radius with 33,791 in the 5-mile radius.

Traffic: Traffic counts at Lincoln Ave and Richmond St are 29,589 vehicles per day

Investment highlights

• 35,282 square feet (including lower level) multi-tenant office building

• 28,272 square feet of land

• $85,002 property taxes (2023 payable)

• Stable operating building with short term leases with high renewal rates

• Public Transportation to the Front Door

• Across from Mather High School

• Just south of Peterson Avenue • Abundant Parking in rear

• Property is across from Mather Park with 4 tennis courts, 5 baseball field, playground, 2 basketball courts and a soccer field.

• Property is one block south of numerous restaurants along Peterson Ave including Walgreens, Chipotle and Potbelly

• Security cameras in building

Listing Contacts

TM
IL 471.019986
Imperial Realty Company
RS
IL, 00000
Imperial Realty Company
Listed by Imperial Realty Company

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