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$ 694,000
Est. payment | /mo
2,950 SqFt
$ 694,000
Est. payment | /mo
2,950 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 2,950 sqft
Price per Sqft $235
MLS Listing ID 12711405
Year Built 1906
Annual Tax Amount $12,187
Tax Year 2024
Lot Dimensions 25 X 140
Property Sub-Type Mixed Use
Property Description
Exceptional mixed-use investment opportunity in the heart of Chicago's highly desirable Lincoln Square neighborhood! Located at 5051 N. Lincoln Ave., this versatile property features a prominent street-facing storefront/office space, making it ideal for an owner-user, small business, or income-producing commercial tenant. The residential component includes a cozy 2-bed/ 1-bath apartment on the first floor and a well-appointed spacious 2-bed/ 1-bath apartment on the second floor, offering excellent rental income potential or flexible owner-occupancy options. The full-length basement spans the entire footprint of the building and features shared laundry with a washer and dryer, abundant storage space, and endless possibilities for additional utility or workspace. Outside, enjoy a large private backyard with a generous patio area-perfect for entertaining, relaxing, or outdoor gatherings. The property is complete with a detached two-car garage, providing valuable off-street parking, additional storage and potential rental income. Situated on bustling Lincoln Avenue, this property offers outstanding visibility and is just steps from Lincoln Square's renowned restaurants, cafes, boutique shopping, parks, and public transportation. Whether you're an investor seeking strong income potential or an owner looking for the perfect live/work opportunity, this unique property offers exceptional versatility, multiple income streams, and an unbeatable location in one of Chicago's most sought-after neighborhoods.
Location
State IL
County Cook
Area Chi - Lincoln Square
Zoning COMMR
Interior
Cooling Central Air, Window Unit(s)
Fireplace N
Building
Dwelling Type Mixed Use
Structure Type Brick
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Listed by Peter Faehnrich of Charles Rutenberg Realty