Showroom Condo with Flexible
For Sale
$1,195,000
4420 N Clark Street #GF, Chicago, IL 60640
Commercial condominium with separate metering, multiple entrances, finished bathrooms, and potential for three suites.
Property Size4,000 SF
Price / SF$298.75
Days on Market41
Property Features for 4420 N Clark Street #GF
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
6
Property subtype
Commercial
Zoning
RTAIL
Additional Details
Frontage
40 ft
Taxes and HOA fees
Annual Taxes
$29,305
Building Details
Building Size
4,000 SF
Year Built
2008
Stories
1
Units
1
Listing Agency:
Mark B. Weiss Real Estate, LLC
(773) 871-1818
Listed By:
Mark Weiss · License #471007694
(773) 871-1818
Source:
Ozmentrealestate
Added: Jul 7
Changed: Aug 15
Last Checked: Aug 15 at 1:51PM
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 Mark B. Weiss Real Estate, LLC
Investment Insights
Based on property information with market context.
This showroom-oriented commercial condominium contains 4,000 SF in a single existing space with a layout that can be divided into three areas. Three entry doors and three separately metered sections support the subdivision concept, while three finished bathrooms include one full bath with a tub and shower. The space also features 10' clear ceilings, modern track lighting, a security system, and a kitchenette. Potential uses identified for the property include showroom and creative fitness applications.
The property is located at 4420 N Clark Street #GF in Chicago's Andersonville/Uptown Corridor and offers 40' of frontage on Clark Street. Ownership includes 4 deeded indoor spaces and 2 deeded outdoor spaces. Built in 2008 and designated RTAIL, the condominium combines existing commercial improvements with a flexible interior configuration.
The property is located at 4420 N Clark Street #GF in Chicago's Andersonville/Uptown Corridor and offers 40' of frontage on Clark Street. Ownership includes 4 deeded indoor spaces and 2 deeded outdoor spaces. Built in 2008 and designated RTAIL, the condominium combines existing commercial improvements with a flexible interior configuration.
Key Highlights
- 4,000 SF commercial condominium showroom space
- Potential subdivision into 3 spaces with 3 entry doors and separate metering
- 3 finished bathrooms, including one full bath with tub/shower
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
$55,339
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
4.63%
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%
$1,106,780
$1.1M
Cap Rate 7%
$790,557
$790.6K
Cap Rate 9%
$614,878
$614.9K
Market Conditions
NOI Build-Up for 4,000 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
$86.4K $21.60/SF
− Vacancy
−$7.3K −$1.84/SF
EGI
$79.1K $19.76/SF
− OpEx
−$23.7K −$5.93/SF
NOI
$55.3K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /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%
$1,106,780
Cap Rate 7%
$790,557
Cap Rate 9%
$614,878
Alternative Uses
Best Use
Retail
$790.6K
$691.7K – $922.3K
NOI $55,339 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,019 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,049
Businesses Nearby
93k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 37%
Groceries 35%
Office Supplies 13%
Dining 13%
Aldi
Groceries
32,487 visits/mo
0.4 miles
Staples
Office Supplies
12,326 visits/mo
0.2 miles
Mobil
Shops & Services
7,262 visits/mo
0.5 miles
7-Eleven
Shops & Services
7,133 visits/mo
0.1 miles
BP
Shops & Services
6,740 visits/mo
0.5 miles
Demographics for 60640, IL
65,941
Population
40,850
Households
1.6
Avg Household Size
38
Median Age
63%
College-Educated
92%
High-School Grad
2.4 sq mi
ZIP Area
27,475
Density / Sq Mi
$71,030
Median Household Income
$59,264
Median Earnings
$1,374
Median Rent
$363,300
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Showroom - Commercial condominium with separate metering, multiple entrances, finished bathrooms, and potential for three suites.
Where is this showroom located?
The property is located at 4420 N Clark Street #GF Chicago, IL.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 4,000 SF commercial condominium showroom space; Potential subdivision into 3 spaces with 3 entry doors and separate metering; 3 finished bathrooms, including one full bath with tub/shower
