Chicago, IL 60618 4357 N Lincoln Avenue # C

Perfect commercial condo opportunity for an investor or owner/occupier. The unit is already nicely built out and currently tenanted with an arts and crafts business. B1-2 zoning which permits a variety of retail uses. Tenant pays $3,150 / month until 10/31/26 and $3,200 / month between 11/01/26 - 10/31/27. There is an option to renew for an additional 3 years at 5 per cent more than the prior year. Tenant pays for all expenses other than Mortgage, Property Tax and HOA. Low HOA fees currently $85.90 per month. Current passing income implies a cap rate around 7 for 2025. However, property taxes were successfully appealed as of January 2025 and assessed value dropped to $56,250 from $99,251. This implies a material decrease in 2024 property taxes when second installment finally arrives. This lifts the pro forma cap rate to 8 to 9 based on pro forma NOI.