Mixed-Use Building Near Wrigley
For Sale
$1,050,000
3814 N Clark St, Chicago, IL 60613
Mixed-use building with store and apartments near Wrigley Field.
Property Size4,800 SF
Price / SF$218.75
Days on Market169
Property Features for 3814 N Clark St
General Information
Standard status
Active
Size
4,800 SF
Building Details
Year Built
1902
Listing Agency:
@properties Commercial
Listed By:
Stephen Grill
Source:
Bktchicago
Added: Mar 26
Changed: Sep 8
Last Checked: Sep 9 at 11:08PM
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 @properties Commercial
Investment Insights
Based on property information with market context.
This mixed-use building is located two blocks from Wrigley Field. The first floor is currently an owner-operated liquor and convenience store. Above the store, there are two apartments, each featuring 3 bedrooms and 1 bathroom. A two-car garage is included, which can be used by the owner or rented out for additional income. The property size is 4800 square feet. The business is sold separately.
Key Highlights
- Mixed‑use building near Wrigley Field
- First floor liquor and convenience store
- Two income‑producing 3‑bedroom apartments
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
$89,338
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
8.51%
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%
$1,786,760
$1.8M
Cap Rate 7%
$1,276,257
$1.3M
Cap Rate 9%
$992,644
$992.6K
Market Conditions
NOI Build-Up for 4,800 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
$126.7K $26.40/SF
− Vacancy
−$7.6K −$1.58/SF
EGI
$119.1K $24.82/SF
− OpEx
−$29.8K −$6.20/SF
NOI
$89.3K $18.61/SF
Area
Chicago, IL
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,786,760
Cap Rate 7%
$1,276,257
Cap Rate 9%
$992,644
Alternative Uses
Best Use
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,338 @ 7.0% cap · market cap 8.51%
Second Best
Mixed Use
$1.16M
$1.01M – $1.35M
NOI $81,000 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,423 @ 7.0% cap · market cap 15.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,733
Businesses Nearby
207k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Shops & Services 28%
Groceries 22%
Apparel 9%
Raising Cane's Chicken Fingers
Dining
36,207 visits/mo
0.1 miles
BP
Shops & Services
32,347 visits/mo
0.5 miles
Jewel-Osco
Groceries
30,208 visits/mo
0.3 miles
Chick-fil-A
Dining
19,353 visits/mo
0.4 miles
Whole Foods Market
Groceries
16,040 visits/mo
0.5 miles
Demographics for 60613, IL
53,048
Population
31,263
Households
1.7
Avg Household Size
34
Median Age
75%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
23,064
Density / Sq Mi
$91,351
Median Household Income
$68,713
Median Earnings
$1,616
Median Rent
$397,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with store and apartments near Wrigley Field.
Where is this mixed-use property located?
The property is located at 3814 N Clark St Chicago, IL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Mixed‑use building near Wrigley Field; First floor liquor and convenience store; Two income‑producing 3‑bedroom apartments
