Property for Sale: 44 W Lincoln, Chicago Heights, IL 60411

$915,000
$915,000
44 W Lincoln, Chicago Heights, IL 60411
$915,000
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Price:
$915,000

Type Commercial
Year Built 1920

City Chicago Heights
County Cook

MLS 12132732
Status Active
Pleased to present an exceptional investment opportunity located at 40-44 W. Lincoln Highway, Chicago Heights, IL 60411. This offering comprises two prime retail/office properties: a 5,600 square foot building at 44 W. Lincoln Highway and a 1,000 square foot building at 40 W. Lincoln Highway, combining for a total rentable building area of 6,600 square feet. The properties sit on a substantial land area of 21,687 square feet and are zoned R-4, making them versatile for various commercial uses. An investor has the opportunity to backfill these spaces at a competitive lease rate of $15.60 per square foot NNN, thereby transferring the responsibility of property taxes, insurance, and common area maintenance (CAM) reimbursements to the tenants. This strategic leasing approach is projected to generate a pro forma year 1 net operating income (NOI) of $94,710, with an anticipated increase to $97,284 in year 2. The property is attractively listed at $915,000, offering a pro forma year 1 cap rate of 10.35%, which is expected to rise to 10.63% in year 2, presenting a lucrative return on investment. Market Highlights: Chicago Heights is a vibrant market with a strong economic foundation and robust commercial activity. The property benefits from an average daily traffic count of 22,780 vehicles per day (VPD) on W. Lincoln Highway and Aberdeen Street, ensuring high visibility and accessibility for tenants and customers alike. This high traffic volume significantly enhances the potential for foot traffic and business opportunities for any tenant occupying the spaces. The local demographic profile further strengthens the investment appeal. Within a five-mile radius, the average household income is $80,152, indicating a stable and affluent consumer base. Additionally, the area boasts an impressive consumer spending power, with total consumer expenditures reaching $1.658 billion within the same five-mile radius. This high level of disposable income and consumer activity underlines the area's economic vitality and potential for sustained business success. Chicago Heights is strategically located within the greater Chicago metropolitan area, providing convenient access to major highways and transportation networks. This connectivity not only benefits local businesses but also attracts a diverse tenant mix seeking to capitalize on the region's economic growth and commercial opportunities. Investment Potential: This investment not only promises strong financial performance through strategic leasing and tenant cost-sharing but also benefits from its prime location on Lincoln Highway, a major thoroughfare in Chicago Heights. The high traffic volume, affluent local population, and substantial consumer spending power create a fertile environment for business growth and tenant success. By acquiring this property, investors will be positioned to take advantage of the area's dynamic market conditions and secure a high-performing asset with excellent income potential and favorable lease terms. This offering represents a unique opportunity to invest in a property with robust financial projections, strategic location, and significant market demand in the thriving Chicago Heights area. Don't miss out on this opportunity to acquire a property with strong income potential and favorable lease terms in a bustling and economically vibrant community.

Lot & Building Features

Construction Brick
Cooling None
Tax Year 2023
Lot Dimensions 21687 ft

Price History of 44 Lincoln, Chicago Heights, IL

Date Name Price Difference
12/31/1969 Listing Price $915,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.
Photo of Nancy Hotchkiss
Direct: 312-339-3405
Office
3580 W 95th Street
Evergreen Park, IL 60805
708-422-0011
Listed by Keller Williams ONEChicago, Anthony Hardy & Travis Montgomery
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20%
1%
6.75%
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44 Lincoln (MLS #12132732) is a commercial listing located in Chicago Heights, IL. This property was listed on 08/07/2024 and has been priced for sale at $915,000.

Nearby zip codes are 60422, 60430, 60461, 60466 and 60475. This property neighbors other cities such as Flossmoor, Olympia Fields, Park Forest, South Chicago Heights and Steger.

Midwest Real Estate Data

Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation.

All information provided is deemed reliable but is not guaranteed and should be independently verified.

Listing information courtesy of: Keller Williams ONEChicago