3812 N Clark St
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3812 N Clark St
3,000 SF 100% Leased Retail Building Chicago, IL 60613 $2,200,000 ($733/SF) 6.84% Cap Rate
Investment Highlights
- Leased to MedMar Chicago on a net-lease; minimal landlord responsibilities
- Favorable B3-2 zoning, allowing for apartments above the ground floor
- Placed in high traffic corridor of Clark St. which sees approximately 9,426 VPD
- Strong hedge against inflation; 2% annual rental increases
- Ability to convert building to mixed-use with apartments once lease term ends
- Located in an affluent area of Chicago with over 252,267 residents with an average household income of $156,600
Executive Summary
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.
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.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,000 SF
Building Class
C
Year Built
1914
Price
$2,200,000
Price Per SF
$733
Cap Rate
6.84%
NOI
$150,480
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.96
Lot Size
0.07 AC
Zoning
B3-2
Walk Score ®
Walker's Paradise (91)
Transit Score ®
Excellent Transit (78)
Bike Score ®
Very Bikeable (88)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 14-20-110-032-0000 | Improvements Assessment | $57,000 |
| Land Assessment | $57,000 | Total Assessment | $114,000 |
PROPERTY TAXES
Parcel Number
14-20-110-032-0000
Land Assessment
$57,000
Improvements Assessment
$57,000
Total Assessment
$114,000
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3812 N Clark St
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