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$694,000
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Property Description
Exceptional mixed-use investment opportunity in the heart of Chicago's highly desirable Lincoln Square neighborhood! Located at 5051 N. Lincoln Ave., this versatile property features a prominent street-facing storefront/office space, making it ideal for an owner-user, small business, or income-producing commercial tenant. The residential component includes a cozy 2-bed/ 1-bath apartment on the first floor and a well-appointed spacious 2-bed/ 1-bath apartment on the second floor, offering excellent rental income potential or flexible owner-occupancy options. The full-length basement spans the entire footprint of the building and features shared laundry with a washer and dryer, abundant storage space, and endless possibilities for additional utility or workspace. Outside, enjoy a large private backyard with a generous patio area-perfect for entertaining, relaxing, or outdoor gatherings. The property is complete with a detached two-car garage, providing valuable off-street parking, additional storage and potential rental income. Situated on bustling Lincoln Avenue, this property offers outstanding visibility and is just steps from Lincoln Square's renowned restaurants, cafes, boutique shopping, parks, and public transportation. Whether you're an investor seeking strong income potential or an owner looking for the perfect live/work opportunity, this unique property offers exceptional versatility, multiple income streams, and an unbeatable location in one of Chicago's most sought-after neighborhoods.
Full Property Details
Full Property Details for 5051 N Lincoln Ave
General
- Price: $694,000
- Taxes: $12,187 (2024)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12711405
- Updated: 7/28/2026
- Added to Site: 29 day(s) ago
Interior
- Interior Features: Basement, Laundry Room
Additional Information
- Security/Safety: Other, Carbon Monoxide Detector(s)
Location
- Area: CHI - Lincoln Square
- County: Cook
- Driving Directions: Lincoln Ave, north of Winnemac
- Location Details: Chicago North
Heating & Cooling
- Cooling Type: Central Air Conditioning, Window Unit(s)
- Heating Type: Forced Air
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Foundation: Concrete Perimeter
- Stories/Levels: 2
- Square Feet: 2,950
- # of Stores: 1
- Year Built: 1906
- Built Before 1978: Yes
Unit Information
- Units w/Refrigerators: 2
- Units w/Range/Oven: 2
- # Dryers: 1
Lot Features
- Lot Size (Sq. Ft.): 3,500
- Lot Dimensions: 25 x 140
- Zoning: COMMR
Financial Considerations
- Security Deposit: Other, Carbon Monoxide Detector(s)
- Assessment Year: 1906
- Tax Amount: $12,187
- Tax Year: 2024
Disclosures and Reports
- Property ID: 13124070110000
Listed by Charles Rutenberg Realty
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Schools
Schools serving 5051 N Lincoln Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Budlong Elementary School 2701 West Foster Avenue, Chicago, IL 60625 | K-8 | 0.3 mi |
Amundsen High School 5110 North Damen Avenue, Chicago, IL 60625 | 9-12 | 0.6 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 5051 N Lincoln Ave
Date
Details
Price
Change
Source
7/22/2026
Listed
$694,000
—
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 5051 N Lincoln Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$12,187
—
$56,000
2%
2023
$12,187
3%
$55,000
—
2022
$11,805
2%
$55,000
—
2021
$11,544
15%
$55,000
27%
2020
$10,053
-1%
$43,227
-11%
2019
$10,187
2%
$48,570
—
2018
$10,001
-4%
$48,570
4%
2017
$10,444
7%
$46,617
—
2016
$9,733
14%
$46,617
—
2015
$8,542
18%
$46,617
19%
2014
$7,260
2%
$39,132
—
2013
$7,117
127%
$39,132
124%
2012
$3,140
—
$17,499
—
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 5051 N Lincoln Ave
5051 N Lincoln Avenue, Chicago, IL 60625 (MLS# 12711405) is a Commercial property. 5051 N Lincoln Avenue is currently listed for $694,000 and was received on July 22, 2026. Want to learn more about 5051 N Lincoln Avenue? Do you have questions about finding other Commercial real estate for sale in Lincoln Square? You can browse all Lincoln Square real estate or contact a Coldwell Banker agent to request more information.

