4611 Lincoln AveChicago, IL 60625

Property Details for 4611 Lincoln Ave

Year built

1924

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.07 AC

Property size (Sq ft)

3,605 SF

Property type

Residential income properties

Property subtype

Residential income homes

APN

14-18-117-003

APU

1418117003

Description

This exceptional Class A creative office building, designed by the renowned Louis Sullivan and built in 1922, presents a unique investment opportunity. Located at 4611 N. Lincoln Avenue in Chicago's desirable Lincoln Square neighborhood, this property boasts 5,030 square feet across a single building. A significant renovation was completed in 2007, maintaining the building's historical charm while incorporating modern amenities. The property offers a Net Net Net (NNN) lease structure for multi-tenant occupancy. The current Net Operating Income (NOI) is $86,057, resulting in a 4.78% capitalization rate. The asking price is $1,800,000. Conveniently located near the CTA Western Brown Line 'L' station, this property benefits from excellent public transportation access, as well as proximity to a variety of shops and restaurants. The building includes two parking spaces. Architectural plans for a potential third-floor addition are also available, offering significant expansion possibilities. This is a rare chance to own a piece of architectural history in a vibrant and thriving Chicago neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $1,345,604

  6.5%

  $1,242,096

  7%

  $1,153,375

• Comparable approach

  Method

  Valuation

  Relative Method

  $727,804

  Geo Method

  $727,804

• Alternative Use

  Use

  Valuation

  Residential

  $1,242,096

  Hospitality

  $1,137,753

  Educational

  $946,597

  Medical

  $979,152

  Retail

  $1,472,485

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9653

Longitude

-87.686

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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