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71-75 Common Street, Lawrence MA 01840

Lawrence, MA 01840
$3,200,000
Est. $18,485/month
0.56
Acres
Residential
Type
12 hours 2 minutes
Time on Market
Active Listed Mar 18, 2026 • MLS# 73488625 Copied!

About this home

Northmarq is pleased to present the ICONO Development, a fully approved residentialdevelopment opportunity located at 71–75 Common Street and 37 Newbury Street in the heart ofdowntown Lawrence, Massachusetts. The project is approved for the construction of 60 market-rateresidential units set above a 55-car structured garage, combining modern design with functionalityto meet the growing demand for high-quality urban housing in one of the Merrimack Valley’s mostrapidly transforming cities.To the future owner’s advantage, the ICONO Development has been awarded a $2.5 millionHousing Development Incentive Program (HDIP) tax credit for calendar years 2025, 2026, and2027, significantly enhancing project feasibility and investor returns. This valuable state incentiveunderscores the City of Lawrence’s commitment to supporting new residential development in itsurban core and adds meaningful value to the project’s overall financial profile.

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Property Overview

Property Type
Residential
Listing Type
Land

Facts & Features

Home Facts

Type Land
Style Residential
Lot Size 0.56 acres

Interior

Heating None
Cooling None
Flooring None
Appliances None
Fireplace None
Basement None
Laundry None
Features None

Exterior

Construction None
Architecture None
Roof None

Parking

Features None

Utilities

Electric On-site
Water On-site
Sewer On-site
Gas On-site
Other None

Financial

Annual Tax $25,244
Assessed Value $1,371,000

Interior Features

Flooring:
Appliances:
Interior Features:
Windows:
Basement:
Laundry:
Security:

Construction & Materials

Structure Type:
Exterior Materials:
Roof:
Foundation:

Heating, Cooling & Utilities

Heating:
Cooling:
Hot Water:
Water Source: On-Site
Sewer: On-Site

Parking & Garage

Parking Features:

Location

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Neighborhood

71-75 Common Street, Lawrence MA 01840

Lawrence, MA 01840

Walkability

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Nearby Schools

School District
Lawrence School District local
D
🎓 Where Graduates Go Class of 2021
36% attend college
14% 4-Year 23% 2-Year 3% Out of State 2% Working
✓ School Safety 2024-25
2.2% Average
2.2% Suspensions 1.1% In-School
↓ 3.3% below state avg
E

Elementary Schools

3 schools
D
Oliver Elementary School
0.3 mi | #766 of 824 | Score: 31.2
Improved 48 spots from last year
-27 below state avg
469 students Less Diverse
Rising School
Grades K-04
B+
Community Day Charter Public School
0.4 mi | #125 of 352 | Score: 46.9
Dropped 12 spots from last year
-11.3 below state avg
1,200 students Less Diverse
Grades PK-08
F
School for Exceptional Studies
0.4 mi | #343 of 346 | Score: 17.7
Improved 40 spots from last year
-40.5 below state avg
118 students Less Diverse
Rising School
Grades PK-12
M

Middle Schools

3 schools
Esperanza Academy
0.1 mi
Grades 05-06
F
Oliver Middle School
0.3 mi | #346 of 352 | Score: 24.3
Dropped 28 spots from last year
-33.9 below state avg
348 students Less Diverse
Grades 05-08
Blessed Stephen Bellesini O.S.A. Academy
0.7 mi
Grades 05-08
H

High Schools

3 schools
B
Phoenix Academy Public Charter High School, Lawrence
0.1 mi | #182 of 346 | Score: 69.9
Same rank as last year
140 students Moderate
Career Tech Programs College Ready Curriculum
Grades 09-12
B-
RISE Academy
0.2 mi | #223 of 346 | Score: 66.7
Same rank as last year
74 students Less Diverse
College Ready Curriculum
Grades 06-12
B
High School Learning Center
0.6 mi | #172 of 346 | Score: 71.1
Same rank as last year
198 students Less Diverse
Career Tech Programs College Ready Curriculum
Grades 09-12
Learn about these ratings
School data provided by BMN Schools

Monthly Payment Calculator

Monthly Payment
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Principal, interest, taxes & insurance
Loan Amount
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After down payment
Total Interest
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Over life of loan
Total Cost
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Including down payment
%
Down: $0
%

Monthly Payment Breakdown

Principal & Interest $0
Property Tax $2,104
Homeowners Insurance $200
PMI (if <20% down) $0

Loan Summary

Total of 360 payments $0
Total principal paid $0
Total interest paid $0

Rate Impact

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Current Rate
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+0.5% Rate
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Payment Over Time

Interest
Principal
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
* Estimates only. Actual payments may vary. Consult with a lender for accurate figures.

Property History

Property Timeline

🏠
Listed for Sale
Mar 18, 2026
$3,200,000
Original listing

Price & Status History

Date Event Price Change
Mar 18, 2026 New Listing Added $3,200,000 —

Market Statistics

Time on Market
12 hours 2 minutes
Price per Sq Ft
$—

Tax History

Year Taxes Assessment
2025 $25,244 $1,371,000

Financial Details

Annual Property Tax
$25,244
Tax Year 2025
Assessed Value
$1,371,000

Listing Information

Listing Agent Michael Chase
Listing Office James M. Murphy
Agent MLS ID CN205201
Office MLS ID AN0933
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.

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Steven Novak

Steven Novak

BMN Boston Real Estate

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