7370 Lincoln AveLincolnwood, IL 60712

Property Details for 7370 Lincoln Ave

Year built

1960

Lot size

0.85 AC

Property type

Retail space

APN

10-27-317-046

APU

1027317046

Description

This exceptional 14,076 square foot office building, constructed in 1956, presents a compelling investment opportunity in the thriving Lincolnwood, Illinois market. Strategically located just 15 miles northwest of Chicago, this property enjoys unparalleled accessibility via Interstate 90/94 and its proximity to Touhy Avenue ensures high visibility and significant daily traffic—an estimated 12,500 vehicles pass by daily. Currently configured as a five-unit office space, the building includes 28 on-site parking spaces. A substantial 5,500 square foot rear lot offers additional parking or outdoor storage potential. The property's unique layout offers significant upside. Approximately 9,000 square feet of the building could be easily converted back into warehouse space, creating a highly sought-after flex office building. This conversion would capitalize on the limited availability of flex office space in Lincolnwood and surrounding areas. The warehouse area features 16-foot ceilings, two loading docks, and one overhead door, all of which could be reactivated to enhance functionality. The current owner occupies a portion of the office space and is open to remaining as a tenant or vacating upon sale to an owner-occupier. This presents a flexible scenario for the new owner, allowing for immediate occupancy or the opportunity to lease the space to generate rental income. This property is priced at $1,950,000.

• CAP approach

  CAP return

  Valuation

  6%

  $16,330,694

  6.5%

  $15,074,487

  7%

  $13,997,738

• Comparable approach

  Method

  Valuation

  Relative Method

  $12,113,656

  Geo Method

  $12,113,656

• Alternative Use

  Use

  Valuation

  Residential

  $12,715,894

  Hospitality

  $11,647,690

  Educational

  $9,690,742

  Medical

  $10,024,021

  Retail

  $15,074,487

Location Insight

City

Lincolnwood

County

Cook

State

Illinois

Latitude

42.0142

Longitude

-87.7434

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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