3219 N Clark St Chicago, IL 60657
Mixed-use property with redevelopment potential in Chicago's Lake View.
Type:Office, Retail
Property size:
6,992 SFPrice / SF:
$286/SF- Added:
- Aug 16, 2024
- Days on Market:
- 615
- Last Refresh:
- Mar 17 at 1:26 pm
Property Features for 3219 N Clark St
General Information
- Standard status
- Active
- Size
- 6,992 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1925
Listing agent Tony Hardy License #IL 475.139834
Listing office KW Commercial Chicago - Lincoln Park
Listing date Aug 16, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial Chicago - Lincoln Park
Overview
Lake View Redevelopment Opportunity
Located in Chicago’s Lake View neighborhood, this property at 3219 N. Clark Street presents a redevelopment opportunity. Constructed in 1925, the Class C building features a gross leasable area (GLA) of 6,992 square feet. The property is suited for mixed-use investment, with the upper floors primed for conversion to residential apartments. The ground floor is currently occupied by a tenant. The 2nd and 3rd floors have the potential to transform into four 900-square-foot residential apartments. Each floor could accommodate two 2-bedroom, 2-bathroom units. The ground floor offers 3,300 square feet of medical office or retail space. The current tenant’s lease runs through December 31, 2027. Starting in January 2026, the base rent will increase. The existing lease provides an investor with the opportunity to generate consistent cash flow while obtaining plans and permits for renovations. Renovation work cannot commence until the tenant vacates the property. The ground floor is occupied by Blum Animal Hospital, part of the national VCA Animal Hospitals Inc. network. The property enjoys a location surrounded by shopping, dining, and cultural attractions. It offers visibility, foot traffic, and proximity to public transportation. The property combines the security of a long-term tenant with redevelopment potential. The mixed-use redevelopment offers diversified income streams. The phased renovation approach allows for cash flow during construction. The location ensures ongoing demand for residential and commercial spaces. The existing lease ensures stable revenue while providing time for the planned residential conversion.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
VCA Blum Animal ...
Veterinary Clinic
Julia Georgesen, DVM
Veterinary Clinic
Rubin Veterinary Services
Veterinary Clinic
Dann Robert Dr
Veterinary Clinic
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6506855
- Latitude
- 41.9406343
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with redevelopment potential in Chicago's Lake View.
Where is this mixed-use property located?
The property is located at 3219 N Clark St Chicago, IL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Prime Lake View location with high visibility and access to amenities.; Redevelopment opportunity to convert upper floors into 4 residential apartments, increasing property value.; Stable cash flow from long‑term lease with Blum Animal Hospital (VCA) through 2027.
