2448-2462 N Lincoln Ave
Chicago, IL 60614

Greenstone Partners, as the Exclusive Investment Advisor, is pleased to present the opportunity to acquire the first-floor condominium interest at 2448 & 2462 N Lincoln Ave (the “Property” or “Investment”), a three-tenant, 100% leased retail investment located 3 miles north of Chicago’s central business district in the coveted Lincoln Park neighborhood. The Investment consists of three first-floor retail units that have been vertically separated from the multifamily property above and are situated on two separate parcels: 2448 North Lincoln Avenue and 2462 North Lincoln Avenue, totaling 5,281 square feet of space. The 31-apartment unit building above the retail space, known as DUET, was built in 2018. Upon the new development’s completion, the retail portion was vertically subdivided from the apartments.
Boasting a 7.7-year weighted average lease term remaining, the Property’s tenants have been carefully curated to match the surrounding neighborhood demographics, including Play, a high-end toy shop focused on developmental growth; Junior Chefs Kitchen, which features specialized cooking classes and programs for children; and That Face Facial Plastic Surgery, a high-end facial cosmetic and reconstructive specialty medical clinic. In addition to the long-term leases, the in-place tenants all have rental escalations in the form of either 2% annual increases or 10% increases every 5 years.
The Property features 100 feet of prime frontage along the heavily pedestrian-trafficked Lincoln Avenue, a main thoroughfare through the Lincoln Park neighborhood. The Investment is located just 0.1 miles north of the Fullerton Avenue, Halsted Street, and Lincoln Avenue intersection, which experiences traffic counts exceeding 40,000 vehicles per day, and 0.2 miles from DePaul University’s Lincoln Park campus, which hosts 20,500 students. The Lincoln Park neighborhood is home to numerous acclaimed restaurants and bars, with notable retailers within immediate walking distance including Sweetgreen, Chipotle, Equinox, Velvet Taco, Pure Green, and Crumbl.
Located just 0.2 miles from the CTA Red/Brown/Purple Line ‘L’ station at Fullerton Avenue and along bus routes #8, #37, and #74, the Property is easily accessible via multiple modes of transit. It is considered a Walker’s Paradise (95/100) and Very Bikeable (88/100) by WalkScore.com.
The Property benefits from its location in Lincoln Park, a highly affluent neighborhood and Illinois’ #1 zip code for income. Within a 1-mile radius, demographics include an average household income of $144,000, a median home value of $608,000, and a population of 90,000 residents.