3812 N Clark St - Storefront Retail/Residential FOR SALE


Chicago, IL 60613- Lakeview
$2,200,000 USD
312-269-0220
3812 N Clark St, Chicago, IL for Sale
$2,200,000 USD
Storefront Retail/Residential - FOR SALE
1/4
null | 6.84% Cap Rate

3812 N Clark St
Chicago, IL 60613
Lakeview


HIGHLIGHTS

  • Leased to MedMar Chicago on a net-lease; minimal landlord responsibilities
  • Strong hedge against inflation; 2% annual rental increases
  • Favorable B3-2 zoning, allowing for apartments above the ground floor
  • Ability to convert building to mixed-use with apartments once lease term ends
  • Placed in high traffic corridor of Clark St. which sees approximately 9,426 VPD
  • Located in an affluent area of Chicago with over 252,267 residents with an average household income of $156,600

OVERVIEW

Quantum Real Estate Advisors, Inc. (“QREA”) has been retained to exclusively offer for sale a 3,224 square-foot single-tenant two-story retail building located at 3812 N Clark St., Chicago, IL. The free-standing building is leased to MedMar Chicago and is on a 10-year net-lease, which commenced in January of 2017 and features (2) 5-year options with 2% annual rental increases. The building & tenant are currently “dark” however the tenant is still paying rent, per the lease. A new owner can potentially renovate this building into a mixed-use property once the current lease expires. The current zoning for this property is B3-2, which allows for ground-floor retail with apartments permitted above the 1st floor. This favorable zoning allows a new owner many different possibilities of how to maximize value and cash flow. The site benefits from excellent visibility in addition to being located directly on the major north/south retail thoroughfare of Clark St., which sees over 9,426 VPD. Additionally, the site is located just 2 blocks north of Wrigley Field, which had over 2.7 million in attendance for the 2023 season. The asset is located in an affluent area, with over 252,267 residents and an average household income of $156,600 within 2 miles of the site.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$733 USD /SF

CAP RATE

6.84%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1914

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,125 SF

ZONING

B3-2

APN/PARCEL ID

14-20-110-032-0000

ASK ABOUT THIS PROPERTY

Chad FirselQuantum Real Estate Advisors, IncMore Info
312-269-0220

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Chad FirselQuantum Real Estate Advisors, IncMore Info
312-269-0220

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.