Automotive Shop with
For Sale
$1,100,000
6243 N Clark Street, Chicago, IL 60660
Commercial Sale, Chicago, IL
Property Size8,000 SF
Lot Size0.20 Acres
Price / SF$137.50
Days on Market30
Property Features for 6243 N Clark Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
Devon Ave. south on Clark St. to address. Peterson Ave. north on Clark St. to address.
Subdivision
CHI - Edgewater
Standard status
Active
APN
14051080370000
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
28385
Utilities
Cooling system
Central Air
Amenities
overhead garage doors
mezzanine
Building Details
Year built
1938
Floors in Building
1
Number of units
2
Building materials
Concrete, Brick
Listing Agency:
Century 21 Circle · Coldwell Banker Real Estate
(773) 465-4200
Listed By:
Mark Ahmad · License #471007186
(312) 513-4490
Added: Jul 28
Changed: Aug 20
Last Checked: Aug 26 at 6:06AM
MLS# 12717578
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 6243 N Clark Street in Chicago, this automotive property includes approximately 8,000 square feet of building area on about 6,000 square feet of land. The facility includes a south-side second-level mezzanine of approximately 2,000 square feet, providing dedicated storage space. Concrete and brick construction, central air conditioning, and two overhead garage doors shape the existing configuration, with each garage opening paired with its own pedestrian entrance.
The property has served for decades as a classic-car interior restoration, upholstering, and renovation facility. Its Clark Street setting places the building within the Edgewater, Uptown, East Rogers Park, and Andersonville commercial corridor. Loyola University campuses are within walking distance, while Lake Shore Drive and Sheridan beaches are a short distance away.
The property has served for decades as a classic-car interior restoration, upholstering, and renovation facility. Its Clark Street setting places the building within the Edgewater, Uptown, East Rogers Park, and Andersonville commercial corridor. Loyola University campuses are within walking distance, while Lake Shore Drive and Sheridan beaches are a short distance away.
Key Highlights
- Approximately 8,000 square feet of building area on about 6,000 square feet of land
- Approximately 2,000‑square‑foot second‑level mezzanine for storage
- Two overhead car garage doors, each with an independent pedestrian door
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,168
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,003,360
$1.0M
Cap Rate 7%
$716,686
$716.7K
Cap Rate 9%
$557,422
$557.4K
Market Conditions
NOI Build-Up for 8,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$75.4K $9.43/SF
− Vacancy
−$3.8K −$0.47/SF
EGI
$71.7K $8.96/SF
− OpEx
−$21.5K −$2.69/SF
NOI
$50.2K $6.27/SF
Area
Chicago, IL
Vacancy
5.00%
Lease Rate
$9.43 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,003,360
Cap Rate 7%
$716,686
Cap Rate 9%
$557,422
Alternative Uses
Best Use
Retail
$1.58M
$1.38M – $1.84M
NOI $110,678 @ 7.0% cap · market cap 10.06%
Second Best
Industrial
$716.7K
$627.1K – $836.1K
NOI $50,168 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$3.77M
$3.30M – $4.40M
NOI $264,038 @ 7.0% cap · market cap 24.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,494
Businesses Nearby
153k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 70%
Shops & Services 28%
Electronics 2%
Apparel 1%
McDonald's
Dining
28,639 visits/mo
0.5 miles
McDonald's
Dining
17,391 visits/mo
0.4 miles
Dunkin' Donuts
Dining
12,163 visits/mo
0.4 miles
Starbucks
Dining
11,282 visits/mo
0.4 miles
White Castle
Dining
10,202 visits/mo
0.5 miles
Demographics for 60660, IL
42,534
Population
23,508
Households
1.8
Avg Household Size
38
Median Age
57%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
32,718
Density / Sq Mi
$66,206
Median Household Income
$46,871
Median Earnings
$1,286
Median Rent
$287,500
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Similar Off Market Nearby
- T & H Auto Services — 5743 N Broadway, Chicago, IL 60660
- Uptown Auto Services — 5745 N Broadway, Chicago, IL 60660
- Leo's Body Shop — 5971 N Ridge Ave, Chicago, IL 60660
- European Autohaus — 5981 N Ridge Ave, Chicago, IL 60660
- Peterson Car Care — 2002 W Peterson Ave, Chicago, IL 60659
Frequently Asked Questions
What type of property is this?
Auto shop - Concrete-and-brick facility with separate garage access and central air conditioning.
Where is this auto shop located?
The property is located at 6243 N Clark Street Chicago, IL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Approximately 8,000 square feet of building area on about 6,000 square feet of land; Approximately 2,000‑square‑foot second‑level mezzanine for storage; Two overhead car garage doors, each with an independent pedestrian door
