Building:
Single-story brick building with storefront entrances on both Lincoln and Greenview Avenues:
• 3,926 SF store on 4,248 SF lot with entrances on both Lincoln Avenue and Greenview Avenue
• Excellent visibility with frontage and extensive signage available on both Lincoln and Greenview streets
• 10’+ ceilings with skylights
• 42’ wide virtually column-free space on Greenview side.

Tenant:
7.5+ years remaining on 10-year NNN lease with SpaceTime Tanks (http://chicagofloatationtanks.com/), the premier
Floatation and Relaxation Center in Chicago. SpaceTime Tanks has been in business in Chicago since 1982 and is
the longest running Floatation Center in the country. They are investing over $600,000 ($150/SF) in improvements
in the space.

Location:
This site is located in the heart of the Lakeview commercial district just north of the intersection of Lincoln, Barry and
Greenview, 1 block south of the main 6-way intersection of Lincoln, Belmont and Ashland. The property extends
from Lincoln Avenue to Greenview Avenue, with entrances on both streets. The Paulina Brown line CTA station is
located 3 blocks north. Nearby businesses include Starbucks, Home Carpet One, Bakin’ & Eggs, Chicago Pizza,
Gymboree, several gyms and rehab facilities and numerous local businesses.

Demographics: (2018)                   1.0 mile                3.0 mile
Population                                        66,769                  502,717
Households                                       31,493                 241,927
Total Daytime Population                  59,453                 407,419
Average Household Income              $145,521             $104,838
Median Household Income                $115,757             $76,051
Median Home Value                          $547,196             $385,444

Traffic Counts:
• 13,000 vehicles per day (VPD) on Lincoln Ave, 34,385 VPD on Ashland, 19,200 VPD on Belmont
• 2nd busiest CTA bus route (#9) in the city goes down Ashland with nearly 9 million rides per year.

Zoning: B1-3

Pass-through Expenses:
This is a full NNN lease. Tenant is responsible for 100% of the building’s real estate taxes which were $17,851 ($4.55
/SF) in 2018 and Common Area Maintenance (CAM) expenses (including building insurance) which are approx.
$1.50/SF. Tenant is also responsible for the gas, electric and water utility bills for the Premises.

NOI $72,600/yr with 3.0% annual escalations ($80,650/yr. average)

Sale Price: $889,000 ($227/SF) - 8.2% CAP rate on current income, 9.1% on lease term average
Scott Fithian
Direct: 773.404.4314
Fax: 312.944.3759
scott@lordcompanies.com
CROSS STREETS:  LINCOLN & GREENVIEW
FULLY LEASED FREE STANDING BUILDING
FOR SALE
NEIGHBORHOOD: LAKEVIEW
3113 N. LINCOLN
THE LORD COMPANIES, L.L.C.
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