8348 Lincoln AveSkokie, IL 60077

Property Details for 8348 Lincoln Ave

Year built

1954

Lot size

0.07 AC

Property type

Retail space

APN

10-21-303-077

APU

1021303077

Description

This meticulously maintained, 1,200 square foot freestanding medical office building at 8348 Lincoln Avenue in Skokie, Illinois, presents a unique investment opportunity. Currently configured as a podiatrist's office, the single-story structure boasts a welcoming reception area and a spacious waiting room, complemented by four private offices and substantial storage space. The property's high-visibility location ensures excellent exposure, and ample parking is readily available for patients and staff. The NX zoning designation offers considerable flexibility, allowing for a variety of uses beyond medical practices. Potential uses include an outpatient clinic, professional office space, or even a retail establishment. Furthermore, the zoning allows for the possibility of developing residential units above the existing structure, significantly expanding the potential return on investment. This property is ideally situated in Skokie, offering convenient access to major transportation routes and a thriving local community. The building's excellent condition and versatile zoning make it an attractive prospect for both established businesses seeking expansion and entrepreneurs looking to establish a new venture. This is a chance to acquire a well-maintained property in a prime location with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,356,245

  6.5%

  $1,251,918

  7%

  $1,162,496

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,006,025

  Geo Method

  $1,006,025

• Alternative Use

  Use

  Valuation

  Residential

  $1,056,040

  Hospitality

  $967,327

  Educational

  $804,805

  Medical

  $832,483

  Retail

  $1,251,918

Location Insight

City

Skokie

County

Cook

State

Illinois

Latitude

42.033

Longitude

-87.758

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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