3810-3812 W. Lawrence Ave
Mixed Use | 10,000 SqFt
Marketing description
A 10,000 square foot, two-story retail/office storefront property situated on heavily-trafficked Lawrence Avenue is for sale. The ground floor of the property is divided into two units. Each space is improved with a retail and warehouse area and includes an overhead door, which allows for indoor parking. The second floor is partially updated and could be used as an office or converted into residential. Excellent frontage on a main thoroughfare with strong pedestrian traffic makes this offering perfect for a user, developer or investor.
The subject property is situated on Lawrence Avenue in the Albany Park neighborhood of the Northwest side of Chicago. This location is one of the prime commercial arteries with a recent surge in development in the area as several older properties have been razed and new mid-rise multi-family structures have been constructed.
Investment highlights
- 10,000 SF two-story retail/office building
- 6,000 SF ground floor retail space, currently divided into two spaces
- 4,000 SF second floor office space
- In-place gross income: $68,664
- Possibility to redevelop second floor for residential
- 50’ of frontage on Lawrence Ave.
- Close proximity to public transportation and I-90/I-94 expressway
- Nearby attractions: Northeastern University, North Park University, Swedish Covenant Hospital, Walgreens, Mariano’s, Family Dollar, numerous restaurants and shops
- Traffic count: 20,704 vehicles daily
- Lot size: is 50’ x 125’
- Zoning: B1-2
- Taxes (2022): $40,287.43
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