12619 Lincoln StCalumet Park, IL 60827

Property Details for 12619 Lincoln St

Year built

1972

Lot size

0.13 AC

Property size (Sq ft)

5,150 SF

Property type

Garden apartment buildings

APN

25-30-418-043

APU

2530418043

Description

This exceptional multifamily investment opportunity presents two adjacent, two-story brick buildings totaling 15,000 square feet on a 0.26-acre lot in Calumet Park, Illinois. The property comprises sixteen residential units: eight two-bedroom/one-bathroom and eight one-bedroom/one-bathroom units, offering 13,500 square feet of net rentable space. Built in 1972, the property boasts a strong 7.83% cap rate and a Net Operating Income (NOI) of $101,789, with an asking price of $1,300,000 ($81,250 per unit and $96.30 per square foot). Ten parking spaces are available for residents. The property benefits from a prime location along S Lincoln Street, within a dense residential neighborhood and conveniently close to major commercial corridors like W 127th Street and Western Avenue, offering easy access to numerous retail amenities, restaurants, and public transportation, including Metra Electric and Rock Island District lines, CTA and Pace bus routes, and Interstate 57. The property's strong demographics, with over 132,700 people within a 3-mile radius and an average household income exceeding $77,538, contribute to its high rental demand. Each unit features individually metered electricity (tenant-paid), while the landlord covers heat, hot water, and water/sewer. The brick construction ensures low maintenance and durability. Significant value-add potential exists due to below-market rents. This property represents a compelling investment opportunity in a thriving, high-demand market.

• CAP approach

  CAP return

  Valuation

  6%

  $2,052,278

  6.5%

  $1,894,411

  7%

  $1,759,096

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,039,721

  Geo Method

  $1,039,721

• Alternative Use

  Use

  Valuation

  Residential

  $1,894,411

  Hospitality

  $1,735,270

  Educational

  $1,443,724

  Medical

  $1,493,376

  Retail

  $2,245,794

Location Insight

City

Calumet Park

County

Cook

State

Illinois

Latitude

41.6642

Longitude

-87.6679

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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