ON MARKET – MULTI-FAMILY
4600 N. Lincoln Ave. Chicago, IL 60625
PRICE
$8,400,000
NUMBER OF UNITS
27
CAP RATE
4.99%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale 4600 N. Lincoln Ave., a 27-unit mixed-use apartment building located in Chicago’s vibrant Lincoln Square Neighborhood.

The building is comprised of five (5) studio units, seventeen (17) one bedroom/one bath units, and two (2) two bedroom/one bath units. The property also features 5,890 square feet of retail space occupied by three (3) commercial tenants: Quality Optical, Inc.; You and Co. Nail Salon; and Fork, a critically acclaimed restaurant. The units feature predominately laminate countertops, white kitchen appliances, shared laundry, hardwood and tile flooring, and radiator heating.

4600 N. Lincoln Ave. provides investors with an opportunity to acquire a rarely available property located on the corner of Wilson and Lincoln Avenues, highly trafficked and thriving commercial thoroughfare. In addition, the building is located 0.2 miles north of Welles Park and 0.2 miles away from the Western CTA Brown Line Station. The property is ideally situated in the heart of the neighborhood, and residents benefit from a variety of local amenities including boutiques, restaurants, and bars.

LOCATION DETAILS

The Lincoln Square neighborhood is located on the north side of Chicago. Greater Lincoln Square encompasses the smaller neighborhoods of Ravenswood Gardens, Ravenswood Manor, Bowmanville, and Budlong Woods. The area has seen tremendous growth in the past decade as evidenced by much of the retail development along Lincoln, Damen and Lawrence Avenues. In many ways, Lincoln Square is a small town within the city. Lincoln Square is also home to Chicago's Annual "Chicago Folk & Roots" music festival and the "German-American Fest", among a variety of other more locally known festivals.

The property is centrally located within the neighborhood and benefits from the convenience of nearby retail on Lincoln and Wilson Avenues. Also located steps from several bus stops on Western, Montrose, and Lawrence Avenues and less than 0.2 miles from the nearby Western Brown Line CTA (L) stop

HIGHLIGHTS
  • Rarely Available Corner Mixed-Use Building in the Heart of Lincoln Square
  • Numerous Value-Add Strategies - Current Rents Approximately $250/Mo. Below Market
  • Convenient Location - 0.2 Miles to Western CTA Brown Line Station
  • 5,890 SF of Retail Space Occupied by Three (3) Commercial Tenants: Quality Optical, Inc.; You and Co. Nail Salon; and Fork, a Critically Acclaimed Restaurant
LISTING BROKERS
Kate Varde
Principal
773.305.4908
Rick Ofman
Director
773.305.4900