Property Description

Exceptional mixed-use 4 unit investment opportunity in the heart of Lincoln Square! Situated on one of Chicago's most desirable commercial corridors, this fully occupied corner property features two oversized 3-bedroom apartments and two highly visible retail storefronts, creating a rare blend of stable income, future upside, and prime location. The retail component includes a prominent Lincoln Avenue storefront with a full basement and a long-term lease of $2600 extending through 2028, along with a Western Avenue storefront occupied by a long-term tenant who is prepared to execute a new three-year lease. Above the retail spaces are two spacious residential units: a 3-bedroom, 1.5-bath apartment on the second floor renting for $2600 with a lease through 06/2027 and a 3-bedroom, 1-bath apartment on the third floor renting for $2400 with a lease until 07/2026. Both apartments feature central air conditioning, in-unit laundry, hardwood floors, and beautiful original woodwork that reflects the character and charm Lincoln Square is known for. The property also offers the potential to create a rooftop deck above the Western Avenue retail space. Currently zoned B3-3, the property's lot and exceptional location may present future redevelopment potential, including a larger mixed-use or transit-oriented development (buyer to verify). The building is well-maintained, fully occupied, and generates immediate income, while the upcoming vacancy of the third-floor apartment in July 2026 provides a unique opportunity for an owner-occupant, value-add investor, or buyer looking to renovate and bring rents closer to market levels. Located within the highly sought-after Waters Elementary School attendance boundary, this property offers an added layer of appeal for future owner-occupants and tenants alike. Residents and tenants enjoy immediate access to some of Chicago's most beloved restaurants, cafes, shops, and neighborhood destinations. Gene's Sausage Shop & Delicatessen, Garcia's, Barba Yianni, Willow Cafe, Potbelly, Lincoln Square Athletic Club, and OrangeTheory are all just steps away. Commuters will appreciate easy access to the Western Brown Line station, multiple CTA bus routes, and the convenience of living in one of Chicago's most walkable and sought-after neighborhoods. Whether you're seeking a strong long-term investment, an owner-occupied opportunity, or a strategic redevelopment play, 4754 N. Lincoln Avenue offers an outstanding combination of location, income, future potential, and an unbeatable Lincoln Square location. Listing agent is related to the owner and has financial interest in the property.

Property Features

Local Schools