Description

Jones Lang LaSalle Americas (Illinois), L.P. (“JLL”) is delighted to introduce 1970 N Lincoln Ave (“The Property”), a rare mixed-use opportunity situated at the highly coveted intersection of Lincoln Ave, Armitage Ave, and Sedgwick St in the heart of Chicago’s premier Lincoln Park neighborhood.

The Property consists of nine (9) loft-style apartments sitting above approximately 10,000 SF of prime retail space. The residential component features an attractive mix of one- and two-bedroom homes with a large average floor plan. The Property’s 10,000 SF retail component presents a compelling blank-canvas opportunity for a new owner. Positioned on one of Lincoln Park’s most visible and heavily tracked corners, investors have the ability to modernize the retail space, attract new tenants, and take advantage of significant leasing upside through strategic repositioning.

1970 N Lincoln Ave offers investors the rare opportunity to acquire a trophy mixed-use asset with demonstrated residential mark-to-market rents, retail repositioning upside, and an irreplaceable location within one of Chicago’s most sought-after neighborhoods.

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Attributes

Number of units

Occupancy

100%

Year built

1904

Retail

10,075 SF

Media

Investment Highlights

Dynamic Live, Work, Play Location
Incredible Walkability (94 Walk Score); Countless Dining, Shopping & Grocery Options
Easy Access to Chicago’s Top Employers Through Nearby Public Transportation

Trophy Lincoln Park Corner Asset
Desirable Unit Mix of 1- and 2-Bedroom Units, with a Large Average SF Floorplan
Rare Opportunity to Restore an Active Streetscape Presence at One of Lincoln Park’s Most Recognizable Corners

Value Creation Upside
Fully Vacant ±10,075 SF Ground-Floor and Lower-Level Commercial Space Offers a Blank Slate for New Retail
In-Place Residential Rents Are Several Hundred Dollars Below Submarket Averages, with Meaningful Upside as Units Turn