3722 N Lincoln Ave
Retail | 1,265 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the condominium interest in the first floor of 3722 North Lincoln Avenue on the border of the North Center and Lakeview neighborhoods of Chicago, Illinois (the “Property”). The Property contains a 1,265 square foot commercial condominium unit on the first floor of a four-story mixed-use building with residential condominiums. The Property includes one (1) deeded parking space at the rear of the building. The attractive and well-maintained building is positioned on a 0.08- acre parcel and is zoned B1-2 Neighborhood Shopping District, one of the most versatile zoning designations in the city of Chicago.
3722 N Lincoln Avenue offers the opportunity for an owner-user to occupy the Property or to lease the Property as an investment opportunity.
The Property is well-located along North Lincoln Avenue on the border of the North Center and Lakeview neighborhoods of Chicago, in a high-density, inner-urban core neighborhood on the north side of Chicago, directly south of Ravenswood, east of ST. Ben’s and north of Roscoe Village. The transit-oriented site is conveniently located seconds from the Addison “L” station on the CTA Brown Line (approximately 500 feet away). The high-demand for real estate in North Central and Lakeview make this a great opportunity for an investor seeking a stable investment Property with upside through the occupancy or lease-up of the vacant commercial unit
Investment highlights
THE ASSET: The Property is part of a four-story condominium development that was constructed in 2003. The brick building has residential condominium units on the upper floors and a 1,265 square foot vacant commercial unit on the first floor (the subject property). The commercial unit was previously leased by Curtain Couture. The building features an attractive architectural design and has been well-maintained. The Property includes one (1) deeded parking space at the rear of the building. A second parking space, not included in the offering, is also available – contact the listing agent for more details.
REPOSITIONING & VALUE ADD OPPORTUNITY: 3722 N Lincoln Avenue is in an attractive location with a strong consumer base. The Property is ideal for an owner- user, or a new owner can lease the building as is, taking advantage of the well- trafficked location. Additionally, the B1-2 Neighborhood Shopping District Zoning allows for a variety of permitted uses allowing for a wider range of tenants. Please contact the listing agent for more details.
TRANSIT ORIENTED LOCATION: The Property is conveniently located in between the Addison and Irving Park “L” stations on the CTA Brown line (Addison – 500 Feet, Irving Park – 0.5-miles). The Property is also just 1.4-miles from the Ravenswood Metra Station with service on the UP-N line.
The Property is convenient to Municipal Bus Stops along N Damen Avenue and W Addison Street.
HIGH-DEMAND URBAN LOCATION: The Property is located on the border of North Center and Lakeview, two of Chicago’s most popular and sought-after high-density neighborhoods. Located five miles north of downtown, the Property boasts a prestigious address on one of Chicago’s most well-known avenues, and is located near bars, restaurants, and shopping destinations on the Lincoln Corridor.
Located seconds from Trader Joe’s and 0.8-miles from Whole Foods as well as other retailers that help drive further traffic to the subject property.
Located 1.1-miles (5 minutes) from Wrigley Field, one of the city’s major hubs for jobs and entertainment.
More than 11,100 vehicles pass by the Property along N Lincoln Avenue.
EXCEPTIONAL DEMOGRAPHICS: An impressive 63,300+ people live within a 1-mile radius of the Property with an average household income of over $234,348. More than 559,300 people live within a 3-mile radius of the Property.
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