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1/23
$1,550,000
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Property Description
Prime Business Opportunity in the heart of Lakeview! Ideally located on bustling Lincoln Avenue, this marble and brick two-story commercial building is perfectly positioned to benefit from high foot traffic and a vibrant mix of residential and commercial activity. Zoned B1-3, the property offers over 8,700 square feet of stunning open-concept space, plus a full unfinished basement. Each floor spans approximately 4,350 square feet with soaring 9+ foot ceilings (higher due to drop ceiling), large windows that flood the space with natural light, and modern LED lighting throughout. The second floor is accessible via an interior staircase or a separate front entrance, providing the flexibility to accommodate two distinct businesses. Thoughtfully designed for functionality, the building features oversized front display windows facing Lincoln Avenue, hardwood floors, two front entrances, two rear exits, bathrooms on both floors, locker rooms with showers on the second floor, ample storage, and multiple office spaces. The property is equipped with four HVAC units (installed in 2021 and 2017), four condensers (2022 and earlier), three electrical panels, and two hot water tanks. Recent improvements include tuckpointing in 2020, a new sump pump in 2017, a rebuilt exterior back wall in 2009, and a roof tear-off in 1996 with ongoing maintenance. Currently operating as a yoga, meditation, and martial arts studio, this space offers incredible versatility and is ideal for a variety of uses, including retail, spiritual center, banquet halls, pet supply stores, wellness studios, co-working spaces, salons, spas, art studios, galleries, event venues, fitness centers, preschools, dance studios, or gyms. This is a rare chance to acquire a prime property in one of Chicago's most dynamic neighborhoods and bring your entrepreneurial vision to life.
Full Property Details
Full Property Details for 3121 N Lincoln Ave
General
- Price: $1,550,000
- Taxes: $56,573 (2023)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12504538
- Updated: 11/2/2025
- Added to Site: 82 day(s) ago
Interior
- Interior Features: Common Exercise Room(s), Basement
- Flooring: Carpet, Wood
Additional Information
- Security/Safety: Alarm on Site
Location
- Area: CHI - Lake View
- County: Cook
- Driving Directions: Belmont to Lincoln Ave, South to 3121. Enter at double glass doors.
- Location Details: Central Business District, High Traffic Area
Heating & Cooling
- Cooling Type: Central Air Conditioning, Ceiling Fan(s)
- Heating Type: Central Heat/Individual Controls, Gas, Ceiling Fans
Structural Information
- Construction: Other, Brick, Stucco, Stone, Combination
- Exterior Const.: Other, Brick, Stucco, Stone, Combination
- Sub-Flooring: Carpet, Wood
- Stories/Levels: 2
- Square Feet: 8,700
- Current Bldg. Use: Commercial
- Year Built: 1910
Lot Features
- Lot Size (Sq. Ft.): 4,350
- Lot Dimensions: FRONTAGE (ALONG LINCOLN): 50.1' DEPTH. SIDE LOT LINES: 88.8 FEET AND 92.5 FEET. REAR WIDTH: 37.1' AN
- Frontage: City Street, Alley Access
- Zoning: RTAIL
Financial Considerations
- For Sale/Rent/Lease: For Sale Only
- Security Deposit: Alarm On Site
- Assessment Year: 1910
- Tax Amount: $56,573
- Tax Year: 2023
- Pays Electric: 3070
Disclosures and Reports
- Property ID: 14291000110000
Listed by Baird & Warner
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Schools
Schools serving 3121 N Lincoln Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Burley Elementary School 1630 West Barry Avenue, Chicago, IL 60657 | K-8 | 0.2 mi |
Lake View High School 4015 North Ashland Avenue, Chicago, IL 60613 | 9-12 | 1.1 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 3121 N Lincoln Ave
Date
Details
Price
Change
Source
10/27/2025
Listed
$1,550,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 3121 N Lincoln Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$56,573
3%
$260,680
—
2022
$55,119
2%
$260,680
—
2021
$53,853
128%
$260,680
153%
2020
$23,606
-30%
$103,173
-36%
2019
$33,544
2%
$162,315
—
2018
$32,979
12%
$162,315
22%
2017
$29,402
7%
$132,675
—
2016
$27,399
9%
$132,675
—
2015
$25,119
10%
$132,675
12%
2014
$22,781
2%
$118,537
—
2013
$22,348
1%
$118,537
—
2012
$22,102
—
$118,537
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 3121 N Lincoln Ave
3121 N Lincoln Avenue, Chicago, IL 60657 (MLS# 12504538) is a Commercial property. 3121 N Lincoln Avenue is currently listed for $1,550,000 and was received on October 27, 2025. Want to learn more about 3121 N Lincoln Avenue? Do you have questions about finding other Commercial real estate for sale in LakeView? You can browse all LakeView real estate or contact a Coldwell Banker agent to request more information.

