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.