NEW! Buy and sell safely with virtual options - Learn More
About the Listing 10317 - 1007612
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.
Listing Highlights for 4357 N Lincoln Avenue C
Status
Active
Days on Site
13
Property Type
Commercial Sale
MLS ®
12506614
Year Built
2014
Total Square Footage
5,750
Lot/Acreage
0.07
County
Cook
Area
CHI - North Center
Interior Details
- Bedrooms: 0
- Bathrooms: Full
- Appliances:
- Air Cond: Central Air
- Heating: Central Heat/Indiv Controls,Forced Air,Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: COMMON
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $12,241
- Taxes w/Assessments: N/A
- Tax/Property ID: 14183050411001
- Tax Year: 2023
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Listing Location
Questions About..
4357 N Lincoln Avenue C Chicago, IL 60618
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
