4001 North Lincoln Avenue, Unit 4015-37Chicago, IL 60618Price: $3,000,000

  • Price: $3,000,000
  • 57 Days on Market
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Federal 30-year interest rate: 4.31% last updated on Mar 14, 2019
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 9,800Square Feet
  • 2003Year Built

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7 retail storefronts (3 commercial condos, 9800 SF total) + 13-car commercial garage on ground floor of newer 5-story 39-unit mixed-use bldg at main intersection of Lincoln, Damen & Irving Park Rd in North Center. This is the most visible, highest quality construction, best positioned commercial space in this market with a strong mix of mostly long-term national and strong local tenants including Starbucks, Subway, Hair Cuttery, Club Pilates, Ruby Nails, Vertigo Holdings and a pending replacement for the US Bank space (6/7 spaces occupied on NNN leases). There is a CMBS loan with an outstanding balance of ~$2.5 Million at 4.77% with 7+ years remaining on the term that must be assumed, so this could be purchased for approx. $500,000 in cash (17%); 8.8% CAP rate over next 5 yrs, 13%+ ROI on cash. Nearby businesses include CVS, Wintrust Bank, MB Financial Bank, AT&T, T-mobile, Swedish Covenant Immediate Care, Chicago Title, and numerous neighborhood businesses.

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Listed by Scott Fithian of The Lord Companies L.L.C.

Based on information submitted to MRED as of March 18, 2019 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.  MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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