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$ 2,450,000
Est. payment | /mo
9,910 SqFt
$ 2,450,000
Est. payment | /mo
9,910 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 9,910 sqft
Price per Sqft $247
MLS Listing ID 12346625
Year Built 2000
Annual Tax Amount $43,335
Tax Year 2023
Lot Dimensions 25 X 125
Property Sub-Type Mixed Use
Property Description
Rarely available is a fully stabilized mixed-use property at 2636 N. Lincoln Avenue, delivering an immediate 6.5 cap rate in Chicago's premier Lincoln Park neighborhood. This exceptional 9,910-square-foot building features three luxury apartments and ground-floor retail space leased to a law firm, with a brand-new 5-year lease that includes annual increases. With a clear path to a 7.0 cap rate by simply bringing Units 3 and 4 to current market rents, no renovation needed. Eight dedicated parking spaces provide additional value in this high-demand location. Comprehensively updated in 2016, this turnkey property offers both stable income and appreciation potential in a high-barrier-to-entry market. Just steps from the Diversey CTA Station, Fresh Market, Trader Joe's, and more, elevate your portfolio with this premium asset in one of Chicago's most affluent neighborhoods. This is truly one of a kinda investment, with every neighborhood amenity at your fingertips!
Location
State IL
County Cook
Area Chi - Lincoln Park
Zoning COMMR
Interior
Cooling Central Air, Central Individual
Flooring Carpet, Wood
Fireplaces Number 3
Fireplace Y
Exterior
Utilities Available Electricity Available, Natural Gas Available, Sewer Connected, Water Available
Building
Dwelling Type Mixed Use
Water Community Water
Level or Stories 4
Structure Type Brick,Concrete,Block,Masonite,Brick Veneer,Fl Brick/Stn Veneer,Combination
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Matthew Neistat • Jameson Sotheby's Intl Realty
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Sarah Leonard
Broker | Owner